Member Info for orslega

leaky ship.....

I didn't realise mayan were that close to listing on nasdaq, lol

Petroteq must be close to nasdaq listing based on the response to me from Simon in PQE Investor relations; this response was before the additional land/acquisition, so the looking forward to the latest reserve report.

28/3/2019

"Thanks for reaching out.

Early this year we conducted maintenance and upgrade work on the Asphalt Ridge facility to increase efficiency and maximize product quality. We experienced some weather delays in February, but expect to achieve 1,000bbl/day by the end of April.

In the next 60-90 days we plan to execute the share price consolidation, complete our uplist to NASDAQ and receive the latest reserves report.

I trust this answers your questions, but please don’t hesitate to contact us with anything further. Our latest investor presentation is available for download here.

https://content.equisolve.net/petroteq/media/a9bc1245c1b816150e14fa309f4aa53c.pdf

Best,
Simon"

Maybe that's why David Sealock moved - Chinese companies invested heavily in Sunshine Oil with no return - cash call after cash call, huge sums involved. (Hopefully Petroteq is close to getting out of that habit!)

"From 2008 to 2014, Mr. Sealock was the EVP of Sunshine Oilsands, and was promoted to President & CEO (Interim) from 2013 to 2014, where he managed daily operations"

helpful, a very informative post, thanks - take note imo.

"Just checkin in", why bother, you sold at a massive loss and now you blame others?

....obviously a pretty bitter ex investor - your decision to invest such a large sum of money and is now blaming others.

Hey ho, each to their own.

ps for the record that report - not mine - stated about a 20 fold increase; not sure where you get 30 from.....you must dyor properly as you'll get nowhere.

pps Mayan is a stonking BUY right now imo, guess you know that as that's why you're still hanging around here - but don't base your investment decisions on others...that never works.

Lets see at the next operational update.

From that report - this is where the serious additional shareholder returns will come from - their first deal is probably quite close given ongoing discussions with various interested parties:

Note also importantly PQE patent protection in US, Canada and Russia

https://petroteq.energy/technology/patent-protection

Licensing Potential

Better still, as the test phase ends and the operational one begins, Petroteq will also be able to start licensing its technology to other oil sands producers in Canada and beyond. Venezuela rivals Alberta in oil sand potential at 58 billion barrels trapped in the bitumen sands of the Orinoco Basin. And then there are over 40 billion in Kazakhstan, over 30 billion in Russia, and over 20 billion in the United States.

Markets open in US today. Bargain basement here. Tuck away until 2022 then $7-8 per share?

Page 9 - 20 x bagger?

https://mkt-petroteq.conversionir.com/asset/1:petroteq-report

Yep, based on last rns we should now be profitable. Slowly but surely. Good platform to bank reserves to enabling financing for further low cost workovers.

"The Company believes the Austin Field should stabilise at approximately 72 barrels of oil per day gross / 47 net, which approximates the Company's breakeven point of $65,000 per month (assuming US$62 WTI price) which is a discount to the current 6 month forward price of $64."

https://www.ptac.org/ptac-announces-new-vice-president-research-and-development/

small world....useful connection for exploiting Canada oils sands

https://www.cnbc.com/2019/04/17/oil-markets-brent-us-crude-inventories-in-focus.html

Happy Easter, enjoy the weather!

Mitch - see PQE RNS 31/3/2019

"With operations ramping up, the Company believes that it is now in a position to achieve the previously announced goals of 700 bpd in the next couple of weeks and 1,000 bpd within 8 weeks."

So yes we should hear - hopefully this coming week - they're doing at least 700 bopd

From report: massive opportunity- world waiting For confirmation that the technology is commercially viable, then off to the races imo

"Licensing Potential

Better still, as the test phase ends and the operational one begins, Petroteq will also be able to start licensing its technology to other oil sands producers in Canada and beyond. Venezuela rivals Alberta in oil sand potential at 58 billion barrels trapped in the bitumen sands of the Orinoco Basin. And then there are over 40 billion in Kazakhstan, over 30 billion in Russia, and over 20 billion in the United States.

US investor take re additional land resource purchase:

I agree with your assessment. If PQE management didn't think that the extraction process wasn't ready for prime-time and that they were not going to meet their production goals it wouldn't be prudent, financially, to spend their limited and precious cash reserves, that were needed in continually perfecting the technology, on buying up additional resource assets. This transaction tells me that PQE management and engineers are confident that they are on their way to meeting their production goals and it just continues to be a matter of staying on track to expand the plant's capacity to a level that is commercially viable in the eyes of the big institutional investors and the large exploration and production companies, in the US and elsewhere, such as BP, EXON, Chevron and Royal Dutch Shell or even the likes of Diamond-back and Continental. If these companies take an interest in this technology and realize the potential that it has to offer, especially as wells in the Permian and Bakan begin to decline in output then the value of the oil-sands reserves leases will explode as companies move in to stake their claims and snap up the leases at bargin basement prices. As additional leases become available it will be a case of too many companies chasing too few leases causing a rise in lease prices on a per acre basis. Small companies would be squeezed out of the bids because they just don't have the financial resources to compete with the big boys. By buying of leases, now, and ensuring a good solid reserve base PQE would be well positioned, firstly, in that they would already have the leases that they needed, going forward into the future to meet their production needs and, two, if they have a surplus of leases and did have to fund the company, due to unforeseen business events, they could sell some of their surplus leases, at a much higher value than what they paid for them, and capitalize the company. Utah would see a new gold rush, black gold that is and PQE would be the company, with their highly efficient extraction process, that would be the catalyst that gets the ball rolling.
Read more at https://stockhouse.com/companies/bullboard/v.pqe/petroteq-energy-inc#uwC5ZOhcFq1iQUGE.99

Drillingcrew very good find - only published couple weeks back.

Look at page 9 - I'll take $8 per share - i.e. X20 bagged from here in 2022.

Note that estimate is for production only - is does not reflect the very valuable IP right, JVs, Licensing. That's where the major uplift will come.

Looking forward to confirmation that they are doing 1,000 bopd now - that additional processing equipment looks awesome.

great spelling, iPhone eh

It's very noticeable if look at the volume between the last RNS and now that it is very small - infant mainly buys - this underpins a point made by helpful - the subscribers at the last placing are not hear for the short term and a miserly 10%.

Just need a few positive updates and we will see some decent market cap returning here. Confidence returning imo

MXO have changed their name to reflect initials of their new sheik investor.

Since Mayan have no intention to focus on Mexico opportunities - the reason for changing to Mayan, no doubt a name change may soon be in the offering.

Attis are now running the show here so who knows more success at Zinc Ranch may have their name in the running. Food for thought.

New stance being taken......under promise over deliver. Let's see.

And yes Zinc Ranch has been described at the jewel in the portfolio - Thom Board CEO of Attis will hopefully provide sparkling results:

"All of the technical information, including information in relation to reserves and resources that is contained in this announcement has been reviewed by, Mr Thom Board, a member of the Company's Technical Advisory Committee. Mr Board is a member of the Society of Petroleum Engineers who is a suitably qualified person with over 24 years' experience operating and developing oil and gas assets. Mr Board has reviewed the release and consents to the inclusion of the technical information."

yes interesting that the vendors for each 50% of the land interest are different.

Anyone notice the price has gone up quite a bit for the remaining 50%:

8/2/2019 they buy 50% for $10.8M ($1.8M in cash and $9M in shares)

16/4/2019 they buy remaining 50% for $13M ($1M cash ands $12M in shares)

Leave it any longer (ie when production hits 1,000 bopd +) up goes the price again - probably by a good deal more.

A good move.

Maybe that's a reason they have been stalling production until land grab sorted. Let's see.