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Helpful, agreed.

One thing struck me - Petroteq would not be spending huge sums of money on acreage unless they are confident that they can monetise the technology. That in commercial terms means at least 1,000 bopd for starters and ramping up production - they talk about moving towards 4,000 bopd toward the end of the year at AR. Then add in 2,000 bopd from PRS, latest land interests, a entirely separate plant/location.

So land grab is critical BEFORE announcing commercial production etc Otherwise they will paying significantly more for the acreage. Petroteq have not met any of their own time lines to date but it as long as they are now close - seems likely - could have worked in shareholders favour.

see admin have tidying up the board with the false accusations brigade : )

Expecting RNS from Mayan with the Petroteq news and who knows, our own operations.

Hi northfork, Mayan cannot be forced out - they are outright owners of just over 1M fully paid PQE stock - in addition they also have an option (with 3 year window) to acquire another 1M of PQE stock at US$0.90 - so as soon as the share price reaches 0.90c Mayan will be "in the money" on the 1M options - everything over 0.90c - because that's what we have to pay to get the stock - will be all profit.

I am expecting Petroteq share price to make a fast recovery - there are plenty of rumours around that they are now doing 1,000 bopd at their Utah test plant. When that is announced it will be a first of its kind - which imo will have a major impact on the share price i.e. the patented all green technology works in commercial environment. Their presentation released this week sets out plans to build on existing plant to ramp up production to 4,000 bopd. That sounds confident. Problem is, hence current lowly share price and shorting, no one believes it. Going to get very interesting.

For me the major attraction for investing is not the Utah production plans - very nice as it is - but the international JVs/licensing of their technology - that is where the big money is to made.

Oh I suppose as shareholders we could get forced out if a major appears and wants the technology so badly that they pay us an enormous sum of money. That would be nice.

...this article was posted last week by Petroteq (see second link down) on their media site: Canada is still struggling with oil sands - PQE must have their sights on a massive opportunity there:

https://www.rigzone.com/news/wire/oilsands_companies_throw_new_tech_at_old_foe-23-jan-2019-157987-article/

https://twitter.com/PetroteqEnergy/media

helpful - yes I quickly read and began to think that - so basically they issue a new presentation without a major land grab. Left hand - right hand.

Only Petroteq can do that. Who is charge of their PR?

So am expecting this presentation to be withdrawn and replaced with the correct version; Petroteq have form on that lol

they state they are producing a CPR this quarter - expect this to support a good part of the $30M funding/expansion.

Note also:

Nasdaq application submitted for potential listing 1H 2019 (this should attract new investors who won't invest in OTC/TSX - will also be more attractive for financing).

Long time coming but it looks like all coming together. Fingers crossed.

they have near term big plans - within next 7 weeks: see page 14 (the inference is that they are doing 1,000 bopd but yet to be confirmed - next week?)

Expansion to 4,000 bpd by 2019
• Expanding small capacity plant via additional plants and common feed conveyor system
• Raising $30mm of funding via equity and debt, expected in place by 1Q’19
• Engineering due to complete 2Q’19

Petroteq have released a new presentation yesterday - not sure why they have RNS'd that - this is after yesterday's acquisition; very ambitious plans, bodes well for Mayan investment

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

PQE up nearly 17% yesterday.

Catch up time has started.

Next news please.

What I also find very odd is that this RNS is so very different in substance to the $6M deal RNS announced before and then withdrawn.

So obvious observation ......is there another deal? Confused.com

Plot thickens as usual.

Don't think peeps have actually worked this through - as usual with Petroteq announcement not always clear but it looks like a great deal - US Oil spent a small fortune on these assets, circa $65M and failed; so Petroteq gain, massively:

"TMC will pay Momentum Asset Partners I, LLC, a Nevada limited liability company, total consideration of US$10.8 million, US$1.8 million payable in cash and US$9 million payable in shares, namely 15 million common shares of the Company, at a deemed value of US$0.60 per share, representing a premium of approximately 76% from the last closing price of the common shares."

So significant valuation being given to the deal by seller i.e. US$0.60 in shares - would accept this valuation if there was any concern that PQE could not deliver (using their technology).

Gross value:

According to a report titled “Evaluation of Contingent Resources” from Chapman Petroleum Engineering, Ltd. dated December 31, 2018 (the “Chapman Report”), the 50% interests in the P.R. Springs leases to be acquired by TMC are estimated to contain gross contingent resources of 45 million barrels of mineable oil/bitumen in place, with an “arithmetic average after risk” estimate, determined on a net basis (discounted by risk and royalty), of 20.38 million barrels of mineable oil/bitumen in place. Based on certain assumptions in the Chapman Report concerning forecasted oil prices and a recovery factor, the mineable resources that are attributable to the interests in the P.R. Spring lease to be acquired by TMC have an estimated “after risk” cash flow value of US$1.19 billion on an undiscounted basis, a cash flow value of US$153.2 million on a 10%/year discounted basis, and a cash flow value of US$86.2 million on a 15%/year discounted basis.

Read the Receivers report - it gives load of background details to the asset:

http://cfcanada.fticonsulting.com/usoilsands/docs/US%20Oil%20Sands%20-%20Teaser.pdf

Next week - I reckon - PQE announce continuous production, 1,000+bopd - then investors will work out what this acquisition is worth;

....been a while coming but Petroteq are about to hit many radars - not least Mayan sp : )

What have Petroteq acquired for $6M which they are very cagey about? It will be big news when we hear, officially, again, lol

A fresh and permitted RNS soon I wonder? After all the deal has been done, just getting Regularity approvals imo.

Couldn't make this up.

Should we be surprised. No.

Yanks bb reaction says it all really....

What just happened?

They release news that they're diluting us to the tune of 23 million new shares, to make a 6 million dollar purchase. But they provide no details of what we're buying. Then, 12 hours later, they issue a retraction (which requires halting the stock), saying that there is no deal in place after all.

What the heck is going on? Makes it look like amateur hour. C'mon Petroteq, get it together!

Read more at https://stockhouse.com/companies/bullboard/v.pqe/petroteq-energy-inc#r9ghOwt8amFBIZjv.99

for those wondering: game changer opportunity in Australia, proving up the technology opens many doors.....

"Although the primary focus is vanadium, the Company is also looking at options with relation to the petroleum in the shales; as such an MoU has been signed with North American based Petroteq, which has developed a proprietary solvent based technology for the low cost treatment of oil sands; QEM is looking at assessing the suitability of the process to treat the Toolebuc Formation oil shales which if successful could be a game changer in the region and allow for the financially viable extraction of the petroleum.

https://www.theassay.com/wp-content/uploads/2018/11/QEM_AX_IIR_181031.pdf

Or maybe a just a cock up

SHERMAN OAKS, Calif., Feb. 07, 2019 (GLOBE NEWSWIRE) -- Petroteq Energy Inc. (“Petroteq” or the “Company”) (TSXV:PQE; OTC:PQEFF; FSE: PQCF), retracts the press release issued on February 6, 2019 entitled “PETROTEQ ENERGY ANNOUNCES ISSUANCE OF SECURITIES.”

The February 6, 2019 press release was issued in error. The shares of Petroteq will be halted at the open of trading today on the TSX Venture Exchange and will remain halted until a correcting press release is issued later today.

Reason: At the Request of the Company Pending News

odds on 1,000 bopd is the news - (if true) they will have been running the plant at this level for maybe a week - so news will be slipping out; shorts have been closing, share price is ticking up.......

Once they can kick the naysers into touch with above news, proving up continuous 1,000+ bopd - that will be the significant turning point here - i.e. the technology works - many watching internationally on developments - it will also open the worldwide opportunities which they have flagged (and said are discussing)....ie JV production/licensing of tech etc etc

Fingers crossed.

must be soon - Company have stopped trading in the shares - better be fireworks soon! lol

https://uk.advfn.com/stock-market/TSXV/PQE/share-news/IIROC-Trading-Halt-PQE/79209895

ah - LSE site now working - it's been dead for hours, great platform, not!

Well odds on it is this land which has just been acquired - nothing heard since the snippet last July:

PETROTEQ SIGNALS INTENT TO SIGNIFICANTLY INCREASE ACREAGE AND RESOURCE

SHERMAN OAKS, CA, July 24, 2018 (GLOBE NEWSWIRE) -- Petroteq Energy Inc. (TSXV: PQE) (OTC: PQEFF) (FSE: PQCF) ("Petroteq" or the "Company"), a company focused on the development and implementation of proprietary technologies for the energy industry, is pleased to announce that it has signed a Letter of Intent to pursue additional acreage and resources in Utah.

RELATED LINKS
PDF Release PDF
Petroteq's Asphalt Ridge Facility
Petroteq's Asphalt Ridge Facility

Petroteq has reached an agreement with Mareton Alliance LP with a view to acquiring leases and resources within the Utah Oil Sands Region. These assets meet all of the criteria set by Petroteq’s Management and Board.

The Company believes that growing its asset base is crucial at this juncture. It is in the process of bringing its new facility in Asphalt Ridge up to its nameplate production capacity of 1000 bod.

David Sealock, Chief Executive Officer stated, “Growing our asset base is a key initiative that I have been pushing since my arrival at Petroteq this year. I know that our valuation will be driven by our production and technology, as well as our assets in the ground. The discussions with Mareton Alliance have the potential to significantly increase the resource assets on our balance sheet.”

The pricing and structure of the transaction have yet to be finalized, but Petroteq Management is confident that an attractive transaction can be structured. The Letter of Intent is non-binding and the transaction contemplated is subject to board and exchange approval.

yes, PQE was up 5% yesterday