Member Info for orslega

TSX in Canada opens at 9.30am local time - so 2.30pm here in UK; will keep an eye on Petroteq, things starting to get interesting.

ps any newbies may not be aware that as UK investor you can easily buy Petroteq shares - put them in your ISA (or SIPP) for tax free growth : )

Mayan = 17.3% x 6M Petroteq shares and warrants, i.e. 1M of each

RNS detail

The Deloro investment in Asphalt Ridge has now been structured directly into the TSX and OTC listed entity, Petroteq Energy Inc. via the issue of listed equity and unlisted warrants. The first tranche funding of US$3.6m has been closed by Deloro in return for the issue of 6 million shares in Petroteq where a 4 month lockup applies, and 6 million warrants over Petroteq stock, exercisable at US$0.91 for 3 years which is subject to TSX approval. To complete the first tranche under the revised transaction Deloro has raised a further US$1.1m funds from existing Deloro unit holders to ensure it completes the first phase of funding under the re-negotiated agreement.  Mayan elected not to participate in the funding. Mayan's equity interest in Deloro following this capital raise is 17.3% (previously 17.6%).

No - the 17.3% is what we hold in Petroteq via Deloro.

I expect they will use Nasdaq to expand their shareholder base and raise more funds to increase production (one of their information said they would hope to increase production to 10,000 bopd - that won't be for a while though. But they have the resource.)

So I expect here will be some dilution but the important point is that Mayan have invested at the start - so low entry price - I would expect when they list on Nasdaq the Petroteq share price be at a considerable premium, way higher than current sp.

Talking about premium - Mayan now 11% - 50s arriving....very small spread, just 1% - buyers around.

Pretty certain they now meet Nasdaq Listing requirements. A growing share price will only strengthen their position.

Certainly be great for Mayan, Deloro et al PQE shareholders. That (as Petroteq state) should add significant value.

As Helpful has explained (he is an investor in Deloro) - Deloro will be liquidated soon - then Mayan will own their 1M shares and 1M warrants in Petroteq directly.

Thinking big. Unlocking shareholder value - Nasdaq next.

STUDIO CITY, CA, July 12, 2018 (GLOBE NEWSWIRE) -- Petroteq Energy Inc. ("Petroteq" or the "Company") (TSXV: PQE; OTC: PQEFF; Frankfurt: A2DYWC), a company focused on the development and implementation of proprietary technologies for the energy industry, has submitted its formal application to list the Company's common stock in the U.S. on the NASDAQ Capital Market.

"We believe up-listing in the U.S. from the OTC Market to the NASDAQ Capital Market will increase awareness of Petroteq in the financial community," said David Sealock, the CEO of Petroteq. "We believe that a NASDAQ listing will help unlock some of the shareholder value we are trying to create for our stakeholders. A NASDAQ listing should provide us with more liquidity and a larger pool of investors that use the NASDAQ Stock Market as a requirement for assembling a portfolio."

"Being in a position to list our common stock on the NASDAQ Capital Market reflects significant progress that we have made in building our financial and liquidity standards, strengthening our corporate governance, and positioning the Company for future growth and profitability," continued Mr. Sealock.

Acceptance for listing Company 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. During the NASDAQ review process, the Company's common stock will continue to trade in the U.S. on the OTC under its current symbol, PQEFF; in Canada on the TSX Venture Exchange under its symbol PQE; and in certain German markets in Frankfurt, Munich and Berlin under the symbol PQCF (WKN # A2DYWC).

"After months of testing, the plant is now TSX:PQE.V;OTC:PQEFF) new technology is vast.

Utah, Colorado and Wyoming together hold about 1.2 trillion boe in oil sands and shale, worth a combined $72 trillion at current market prices.

At today’s prices, and with Petroteq’s cheap methods, this huge deposit is ripe for safe, inexpensive exploitation. Oil sands owners should jump at the chance to utilize Petroteq’s methods and should deliver lucrative licensing fees in the process.

With licensing its technology, all Petroteq has to do is sit back and let the fees roll in.

Plus, there are more than 20 countries around the world with sizable oil sands deposits just like Asphalt Ridge. Canada alone has more than 100 billion BOE of oil sands, worth $6 trillion. Worldwide, oil sands deposits are estimated at 500 billion BOE.

Petroteq plans to license its tech to companies around the world, raking in hefty licensing fees and expanding its revenue base. But it will also expand its resource base on an opportunistic basis while prices are low. A recent press release announces a 7 million barrel resource acquisition. Expect it to acquire lots more oil sands property so that it can monetize its tech on its own as well."

Re last para they have added acreage since.

Yes I agree - once the technology is proven (very soon I hope) the licensing deals are going be worth millions.....

buying 0.48p

Looking strong

Ha - they copied my post first thing - gotta be ahead of the herd, lol

Align have a current target of 2.1p for Mayan.

SP looks poised to move - throw in some overdue news then MMs will have to let it go.

: )

but hardly surprising

Mayan have a paper profit of approx £262,000.

May RNS

The Deloro investment in Asphalt Ridge has now been structured directly into the TSX and OTC listed entity, Petroteq Energy Inc. via the issue of listed equity and unlisted warrants.   The first tranche funding of US$3.6m has been closed by Deloro in return for the issue of 6 million shares in Petroteq where a 4 month lockup applies, and 6 million warrants over Petroteq stock, exercisable at US$0.91 for 3 years which is subject to TSX approval.  To complete the first tranche under the revised transaction Deloro has raised a further US$1.1m funds from existing Deloro unit holders to ensure it completes the first phase of funding under the re-negotiated agreement.  Mayan elected not to participate in the funding. Mayan's equity interest in Deloro following this capital raise is 17.3% (previously 17.6%).

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Additionally, Deloro has the right until 13 June 2018 to invest a further US$2.4m in return for the issue of 4 million shares in Petroteq and 4 million warrants over Petroteq stock, exercisable at US$0.91 for 3 years.

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With the current strong oil price Deloro and Mayan see significant upside potential in the shares of Petroteq as they move through commissioning of the Asphalt Ridge plant. Production remains on target for 1,000 + bpd with ramp up commencing during May and June 2018. We note that Align research has recently valued Petroteq at US$3.98 per share.

We own approximately 1m Petroteq stock - 17.3% x 6M.

At Canadian $ closing if $1.62 that equates to £1m current valuation. This is for our fully paid Petroteq shares.

We also have 1m warrants in Petroteq at US$0.91 - converting back to Canadian dollars and then sterling means Mayan have a paperprifut of approx £262,000.

So both interests are worth today around £1.262M.

Align have a current valuation of US $4 per Petroteq share - this is for starters. As we know Petroteq plan then to ramp up production.

Mayan investment in Petroteq is going to be with a lot of money. Watch it fly when 1,000 bopd is announced - watching the last few days so action suggests news is close.

nice buying - very good timing imo.

meanwhile our investment in Petroteq marches on : )

Not so good - seller persists.

https://oilprice.com/Energy/Energy-General/90-Oil-Is-A-Very-Real-Possibility.html

Explains the reason why Eddie holding back production, lol Seriously though all these low cost low risk wells ready to kick start production and profitable were based on oil being at $30-35.

At current price Mayan is a no brainier. Transformation near term imo.

Ps see some US boards getting excited about our investment Petroteq. News on that soon looks likely.

Correct - also a large discount to Eddie's last purchase at 0.86p.

22/8 is the long stop date - hopefully it will complete before then:

Mayan (AIM: MYN), the AIM listed oil and gas company, announces that, further to its announcement on 25 June 2018, it has signed an amended Sale and Purchase Agreement with Smart Bit LLC ("Smart Bit"), to extend the time for completion of the due diligence and completion of the outstanding conditions until 22 August 2018.

Must be closing in on the initial 1,000 bopd. When that is announced - boom time.

Mayan have a significant investment in Petroteq (via Deloro).

1m seller hanging around....