Member Info for orslega

yes but their stated focus right now is oilsands....that is where they have spent the lion share of recent placing monies.......and that is where they see shareholder returns....

the advantage of being a private company - no rns and shareholders to worry about......quietly positioning themselves

Valkor have been busy with other oilsand interests

https://keyfactsenergy.com/news/6799/view/

Yep, the penny (or cent!) is beginning to drop.

Petroteq will bag many many times soon, imo

Yes - Suncor will do very nicely - a few billion $ is literally a drop in the ocean for them. Petroteq technology will answer all their critics. There are many at all levels.

Yes I have seen the Canadians are watching very closely on Petroteq developments - hope no one launches a bid too early......

Think about it - the only thing missing for Valkor is ownership of the intellectual property.

They hold a good deal of Utah oilsands, they are the engineering outfit that designed the plant, but they do not own the IP.

As the Petroteq technology is confirmed commercial Valkor (as well as others including Greenfield) will be paying large production royalties (and upfront licence fees currently $2M per plant for all newcomers) - so getting the IP will be the smart extra move. If not Valkor it will a large multi O&G player all of whom are looking for environmentally friendly projects exactly like this.

Not if but when.

Valkor is privately owned, not listed.

imo at some point Valkor will reverse into Petroteq - probably when Petroteq moves up to Nasdaq (stated plan). That will be an explosive transaction for Petroteq shareholders.

Very interesting indeed. But not purchased by Greenfield JV?

per link this land grab by valkor was back in January per that link -Steven Byle must have known then that the technology works - you don’t spend $650K as a punt - so that means they plan either develop themselves - unlikely or more likely grant sub licenses to others at a huge premium - when the Petroteq technology is confirmed as commercial all the surrounding Utah acreage value rockets. Then valkor get the engineering plant installation etc win win

Yes think link has been doing the rounds. This is all to do with the financial bond/surety. Note they confirm that the ore being used is from a third party site (the one Greenfield are still assessing).

The most interesting point is that Petroteq are planning to sell the sand.

Note also that the letter is dated 30/3/2020 - that is a typo - it should be 30/3/2021.

Yep, one of the key attributes of the Petroteq plant will be to produce a range of heavy oils but with very low sulphur - to meet different end user requirements - eg road paving, they have track history:

"The Company has received a payment of $96,500 from the State of Utah ?County Roads Department for delivery of heavy unrefined oil to be used in their road ?paving operations. In addition, the Plant has received an additional purchase order for ?a further $250,000 of the same product from the same state agency."

https://petroteq.energy/news/press-releases/detail/344/petroteq-reaches-new-production-milestone-of-300-bblsday

https://polaris.brighterir.com/public/quadrise/news/rns/story/xq6ndqr

It is expected that the enhanced POSP will restart after Easter, and that oil samples extracted from ore of the Potential Site will then be taken, assayed, and then shipped in April to the UK, to enable the Company to complete the necessary lab and pilot testing at the Quadrise Research Facility ("QRF") as planned. As previously noted, we anticipate being able to complete the MSAR® tests at QRF within three weeks of samples being received.

PQE RNS from a little while ago when Valkor invested:

“I have been working with Petroteq on their proprietary technology for a few years now, and my confidence in the platform and its capabilities have only grown. We look forward to completing the upgrade work and the design of the commercial scale plant over the next couple of months,” stated Steve Byle, CEO of Valkor Engineering.

Valkor team are big hitters. They know where this heading if they get this right.

Technology success will be another biggy to add to their already impressive CVs.

PQE RNS: when he invested a while back:

“I have been working with Petroteq on their proprietary technology for a few years now, and my confidence in the platform and its capabilities have only grown. We look forward to completing the upgrade work and the design of the commercial scale plant over the next couple of months,” stated Steve Byle, CEO of Valkor Engineering.

Yes Steven Byle via his company own 45M Petroteq shares - costing US$2.5M. Circa 12% of Petroteq.

George Stapleton (COO Petroteq) has recently invested $110,000 in buying Petroteq shares.

These are big statements that the technology works. Follow the money.

Current refinements by Valkor should confirm technology is a world first. Another few short weeks, in the scheme of a 7 year project, no problem. All involved no what the prize will be : )

And then Primula, Mr Potter will be able to tell his board - thank god we chose Valkor, lol

Primula - you make me laugh - why was the Greenfield JV set up then? Tomco provided the finance and Valkor the engineering expertise. Simples.

This is a very normal commercial relationship. All reporting requirements are set out in the JV Agreement , well there's a surprise, not.

Well Valkor have been working on this same Petroteq site for nearly 4 years. It just demonstrates that it has been a difficult nut to crack. But when it is cracked.........a world first. Worth the short extra wait.

vauch - that is a very old link - even though Utah press says otherwise. If you look on the Petroteq website you will see the the original release.

Yes the new heaters are currently being installed - production news next once all working as planned. Some people think this is just a "plug and play". Valkor have identified the engineering requirements and are currently sorting. Very confident.

Jakito - excellent post. Correct - the prize is huge - the extra wait is nothing in the scheme of the many years and many $ millions spent perfecting world first technology. Sit tight.

6 weeks is for the FEED report- production up and running should be just after Easter - so 7-10 days plant should be restarted as all equipment on site as per RNS.

That will be the next news - 250 bopd for 12 hour shift - so very soon in scheme of things.

People forget that this is a test plant, Valkor/Petroteq will want to ensure that the whole thing works - future licensing depends on it.