News soon28 Mar 2021 14:54
and when it comes (hopefully all good as expected) this headline from 3 years ago will be repeated but much louder - as tech now commercial : )
The Tech That Could Transform the Oil Sands Industry
"Ignored until the last few decades, geologists now believe that the world's oil sands could eventually yield a staggering 1 trillion barrels of oil worth up to $70 trillion. The oil sands in the Canadian province of Alberta alone have proven reserves equal to about 165.4 billion barrels.
The problem: traditional methods for extracting petroleum from oil sands, such as currently used in Canada, require using vast amounts of water and leave significant environment pollution in its wake. The process is so costly and destructive that many oil producers have now voluntarily abandoned it.
In contrast, Petroteq (PQE.V; PQEFF) has patented a revolutionary new "clean" technology that extracts 99% of the oil from dry oil sands - but without using water or leaving toxic chemicals and greenhouse gases behind. In fact, the only thing that Petroteq's new technology leaves is clean, dry sand.
Oil for a fraction of the current oilsands production cost
Even more amazing, Petroteq's new technology aims to keep the cost of extraction at rock-bottom prices, as low as $28 per barrel on large volumes - far below the prohibitively expensive and destructive oilsands extraction methods of the past. All this is not lost on experienced energy investors - such as the energy analysts at Deloitte. They see many reasons why Petroteq could quickly dominate the dry oil sands industry.
Patented technology available nowhere else.
First, Petroteq has an iron-clad lock on its revolutionary "eco-friendly" extraction technology. The proprietary process consists of a complex series of steps involving specialized solvents, milling and mixing, and clean extraction that leaves no residues.
The potential of this technology for licensing fees is enormous. The world's largest oil companies in places with large dry oil sands deposits could quickly use Petroteq's patented technology to begin extracting enormous amounts of oil.
This could potentially generate big dollars in licensing fees for Petroteq (PQE.V; PQEFF).
Already sitting on untapped oil reserves.
Petroteq has already purchased rights to exploit an enormous deposit of bitumen in eastern Utah, the equivalent of 87 million barrels of oil worth an estimated gross $5.2 billion if extracted at today's oil prices. This resource, much of it lying just below the surface, is located close to oil transportation facilities in Utah - itself a centrally located distribution point in the U.S."
https://www.prnewswire.com/news-releases/the-tech-that-could-transform-the-oil-sands-industry-849245638.html
Sign In
Follow the stocks
