Member Info for orslega

Petroteq are in the process of signing up frac sand sales as per RNS below, so expect news soon on that from.

"The Company has recently completed an evaluation of the clean sand tailings that are a byproduct of the oil extraction process. It was determined that 60-70% of the sand falls within a 40-140 mesh size range and has a crush strength exceeding 8,000 psi, giving the sand an 8K crush factor and confirming that the sand is suitable for use as a frac sand. The 20% of tailings grading larger than 40 mesh can be used as an aggregate for concrete. The Company is now working to develop sales channels for the frac sand and aggregate components of the tailings with a view towards maximizing the value of the clean sand tailings." https://ir.petroteq.energy/press-releases/detail/369/petroteq-energy-announces-that-testing-of-the-sand-tailings

Petroteq have announced that they are in the process of negotiating frac sand contracts- so expect news imminently.

"The Company has recently completed an evaluation of the clean sand tailings that are a byproduct of the oil extraction process. It was determined that 60-70% of the sand falls within a 40-140 mesh size range and has a crush strength exceeding 8,000 psi, giving the sand an 8K crush factor and confirming that the sand is suitable for use as a frac sand. The 20% of tailings grading larger than 40 mesh can be used as an aggregate for concrete. The Company is now working to develop sales channels for the frac sand and aggregate components of the tailings with a view towards maximizing the value of the clean sand tailings."

https://ir.petroteq.energy/press-releases/detail/369/petroteq-energy-announces-that-testing-of-the-sand-tailings

Frac sands can sell upto $70 per ton locally. I barrel of oil produces 1.7 tonnes of sand. Do the maths - the above news was a game changer. If oil prices hang around at these levels the sand (as a by product) becomes more valuable as a business. Add the oil and the sand per barrel sale = $100+. Quite extraordinary really.

comment about site in here:

https://www.londonstockexchange.com/news-article/TOM/placing-to-raise-ps3-5-million/14756302

after all this is what $1.5M of the placing monies were for:

"Approximately £1.5 million will be retained by the Company with the intention that it is used, inter alia, to facilitate the securing of a site by Greenfield for the first proposed commercial 10,000 bopd plant using Petroteq's Oil Sands Technology pursuant to the Petroteq Licence. Once a suitable site has been identified, the Company intends on providing a loan to Greenfield, which will be on the same terms as the Loan, which will be used to secure the site."

CEO Potter has been in Utah for most of January (and we've seen him in the proactive video with the Steve Byle et al)

Does anybody think he might (by now) have possibly located a suitable location? This para below was buried in the November Placing RNS - he certainly has had enough time to have a proper look/see and progress. Tomco has never said the site would be on acreage owned, which in any event is mostly oilshale, not oilsands. Whatever they were looking at back in November has a verified resource and current permit which would accelerate Tomco plans (assuming the current trial is successful). Interesting indeed but see little comment on this.

"Whilst there is no certainty that it can be secured, a potential site in Uintah County, Utah, USA, has been identified by Greenfield that the Board believes has a number of key attributes that make it attractive. These attributes include, inter alia, the required infrastructure to enable construction to commence quickly, the required permits, and the land containing appropriate resources. Further announcements will be made in this regard as appropriate."

Petroteq volume has been pretty small over the few trading sessions - the spread has been wide (I have been buying).

The share issues have been going on for ages but not on particularly favourable terms - keep in mind that is those lenders who have got the company to where it is now. If the current trials are successfully, you'll have no worries about the Petroteq share price. No worries whatsoever. Let's see.

They need 600 barrels first - not any old barrels - they have said they are taking this slowly/fine tuning to get quality production - when that’s sorted Qfi get the sample. That’s fine much better for all involved.

The important aspect now is that they gave consistent and quality production - that is the thrust and objective of these current trials. MSAR production testing is very much secondary, it will happen in good time.

Valkor will have a different priority right now - getting the plant up and running consistently first - MSAR testing secondary. The former is the key to unlocking commercial oil sands production.

Steven Byle is the reason why I increased my Petroteq position in last couple of months. Now that George Stapleton has also bought in demonstrates that the technology is on the cusp of being signed off as commercial - boom time.

Follower the insiders, these guys are smart.

https://www.valkor.com/current_projects/

Yes he/Valkor own 45,000,000 shares in Petroteq: well over 10% of the company.

https://www.globenewswire.com/news-release/2020/07/20/2064319/0/en/Petroteq-Announces-Significant-Insider-Investment-and-Shares-for-Debt-Transactions.html

"The willingness of Valkor to accept partial payment in shares is a huge vote of confidence by a sophisticated and capable technical partner and the Company believes it is a validation of the potential of the Company’s extraction technology at the Asphalt Ridge, Utah facility.

“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.

Do you know how many shares Steve Byle/Valkor own in Petroteq? Millions - wonder why that is? lol

The Chief Operating Officer of Petroteq Energy (PQEFF) is Buying Shares
Catie Powers- January 26, 2021, 9:00 PM EDT SHARE ON:
Yesterday, the Chief Operating Officer of Petroteq Energy (PQEFF), George T. Stapleton, bought shares of PQEFF for $60K.

Following this transaction George T. Stapleton’s holding in the company was increased by 222% to a total of $87.01K. This is Stapleton’s first transaction since reporting a Buy transaction on PTRC back in January 2010

https://s3.amazonaws.com/content.stockpr.com/sec/0001062993-21-000639/0001062993-21-000639.pdf

Validation that the plant is commercial - quite likely I’d say. News due anytime.

Yes Petroteq own the land and 100% of the technology- this is a test plant to prove the tech works - a world first process - years in the making - Tomco will then exploit the tech with a 10k bopd plant via Greenfield- on their own acreage at cost of $180M plant - take around 18 months to get going. Petroteq then receives royalties on all sales.

You can sign up for email alert news etc here

https://petroteq.energy/

They are listed on TMX Canada and OTC USA- you can follow their share price on their website as above.

Watch the share price of Petroteq over the next few weeks. It will be very telling, imo

Yep it’s quite extraordinary - following the recently announced testing results that sand in the ground at Asphalt Ridge is very valuable indeed - fracking sand (70%) and cement quality (30%) and as a by product. Oil is secondary frankly. Excellent.

Plant starts tomorrow- watch out for the off take agreements.

Petroteq RNS 22/12/2020:

George Stapleton, Petroteq COO, commented: "While we had hoped to restart the POSP last week, we should now be able to operate more or less continuously following the restart, without any planned Holiday shutdowns ahead of us. The test results obtained for the sand tailings are a welcome outcome. Any revenue received from the sale of frac sand and/or aggregate is expected to assist us in lowering the operating costs for the POSP, thereby providing higher than expected netbacks per barrel of oil produced."

https://ir.petroteq.energy/press-releases/detail/369/petroteq-energy-announces-that-testing-of-the-sand-tailings

oil is definitely the by product.....not reliant on oil prices anymore.....brilliant news...

that's big news - anybody worked out what the fracking sands are worth.........who needs oil, lol