Member Info for orslega

cheers - of course.

Hi Stuy - US markets are closed today, respect for Bush senior- so hopefully PQE not down 13% today lol Petroteq, like Mayan will have it’s day soon. Nothing announced about the consolidation so guess that and Nasdaq listing pending..... https://eu.usatoday.com/story/money/2018/12/03/stock-market-closed-december-5-george-h-w-bush/2192106002/

this morning

Bargain basement

"The SR should clear up a lot of the rumours that have been put about in recent months."

Precisely - what's there to talk about until we know the outcome.

Nothing new - they are looking for the right team to exploit assets:

RNS

"Charlie's role will be reviewed after the end of that period. Any new additions to the board and management will go through a rigorous selection process to identify persons with the appropriate skills to take the business forward."

I'm not blaming anyone - I am merely stating the AIM Rules/role of the Nomad.

If EG/CW have hoodwinked the Nomad - that is a very serious accusation to make indeed.

Would CW still be around if that were the case? Think about it.

I am very interested in the review.

Nomad has signed off every RNS.

Then you also have to ask what is the role of the company Nomad in any RNS announcements? The role of the Nomad is to seek evidential support of statements being made by the company before being released to the market.

So that never happened, very unlikely?

Even more so now the Nomad will be policing any statements in RNS that it can fully stand by.

well lets see what our asset review says; next week I expect

referencing Stockdale gas

But natural gas prices have had a big boost this last couple of months - just look at the graph : now is the time to monetise that gas - minimal costs to get production going, they said before that they were nearly ready. Hopefully the review will include what seems like a no brainer, even more so now with the price go NG gone up approx 50% since June.

https://www.nasdaq.com/markets/natural-gas.aspx

4/6/2018 RNS

Following evaluation by Mayan's technical team and consultation with local vendors, the Company has determined that on-site generation of electricity using gas volumes from the Escondido Sand formation is the most efficient and cost-effective course of action, requiring minimal additional capital expenditure

Initial production rate from this gas resource is anticipated to be significant and the Company believes that a sustainable rate of approximately 1.3 million cubic feet per day gas and 10-11 barrels of condensate per day is achievable with potential for further upside

A total of 20' of net pay estimated to contain 3 billion cubic feet of natural gas is considered to be recoverable (see announcement dated 26 April 2018)

Mayan is currently engaged in discussions with several municipal purchasers regarding a long-term contract including addition gas anticipated to be unlocked at the Stockdale Field as a result of the Company's planned development plans

The Company expects to realise pricing that will yield a premium to the spot price of the natural gas used to generate electricity if it were sold to a gas gathering / marketing company as is common practice in the United States

The production of this gas from the Morris #1 well will not generate any meaningful additional operating cost so this is exercise is expected to be highly economic

Necessary preparatory work needed to commence the generation of electricity from the natural gas discovery set to commence shortly; the Company shall update the market following commencement of production and any further material updates

mobgos: well thought out post - entirely agree with your view.

Thanksgiving today, US markets closed.

Tomorrow PQE to push through the required share consolidation (to meet Nasdaq listing requirements) and hopefully stop the rot.

SHERMAN OAKS, Calif., Sept. 26, 2018 (GLOBE NEWSWIRE) -- Petroteq Energy Inc. (the “Company”) (TSXV:PQE; OTC:PQEFF; FSE: PQCF), a fully integrated oil and gas company, is pleased to announce that it has called a special meeting (the “Meeting”) of shareholders to be held on November 23, 2018 for the principal purpose of seeking shareholder approval for a consolidation of its issued and outstanding common shares (the “Common Shares”) on the basis of one (1) post-consolidation Common Share for up to five (5) pre-consolidation Common Shares (the “Consolidation”). As announced on July 12, 2018, the Company has submitted its formal application to list the Common Shares in the U.S. on the NASDAQ Capital Market. The board of directors of the Company seeks to complete the Consolidation in order to meet the minimum bid price initial listing requirement for the NASDAQ Capital Market.

"The £203,213.94 proceeds will be allocated to the development of the Company's existing portfolio of onshore US oil and gas assets"

Still in business.

well if we have sold it should really have been RSN'd by now (maybe therefore we haven't but that seems unlikely)

Block RNS today:

Block Energy Chief Executive Officer Paul Haywood said: "The Georgian Government's Agreement with Exxon further validates the country's credentials as a secure and stable place to do business, and an emerging hydrocarbon jurisdiction in terms of naturally occurring oil and gas. Thanks to our positioning and excellent relationships in Georgia, we have already secured a high-quality asset base, which includes multiple low risk development opportunities as well as a huge gas discovery that we estimate is potentially worth US$600 million to Block. Having raised £5 million at the time of our IPO in June this year, we are well placed to play our part in realising the potential of Georgia's energy industry. Work is already underway at Norio to increase production to 150 bopd by Q1 2019, and we will drill sidetracks and test the gas discovery at West Rustavi shortly. With so much activity on the near horizon we look forward to a high-impact newsflow over the coming months."

Lets hope so.

Meanwhile Block sp roars away.....

The RNS issued in the UK this morning was the first of yesterdays RNSs for Petroteq.

The second RNS is in the post below, issued last night UK time. (so we'll see that here one tomorrow, lol)

I see that they have made a new advisory appointment, converted some debt to equity and are raising US $3M through a private placing.

The latest warrants to be issued are at US$1.50 - U$S0.60 higher that the US$0.90 warrants issued to Mayan. So we are on the right side.

I see also that they don't know yet what the proposed share consolidation is yet - due in 9 days time:

and vote upon a proposed share consolidation of one post-consolidation common share for up to ten pre-consolidation common shares (the “Consolidation”) for the purposes of meeting the listing requirements for the NASDAQ Capital Market. As announced on September 26, 2018, the Company had originally planned for a one for five consolidation but due to the pressure on its share price it is now seeking approval for up to ten in the event it is necessary to meet the listing requirements for the NASDAQ Capital Market. The Consolidation is subject to shareholder and regulatory approval, including the approval of the TSXV. Acceptance of the listing of the common shares is subject to approval, in part, based on the Company's ability to meet minimum listing requirements for the Nasdaq Capital Market. While the Company intends to satisfy all of the applicable listing criteria, no assurance can be given that its application will be approved.

Petroteq Provides Corporate Update :: Petroteq Energy Inc. (PQEFF)

https://ir.petroteq.energy/press-releases/detail/299

yep, the Nasdaq listing scheduled for next few weeks will open plenty of new doors.

"Additionally, the Company is working with several parties on identifying growth capital for the intended expansion of the Company’s Asphalt Ridge Plant."

Catch up time.