oil sales4 Jun 2021 11:01
Got this back from Petroteq regarding potential sand sales.
Very encouraging to say the least.
My view is this tech will continue to improve as more money and research is put into it.
It will become a well-oiled machine I am sure, (excuse the pun) there are plenty of oil /tech engineers looking at this from 3 companies which is just what you need.
This could become one of the cheapest oil producers in the world.
I am not sure I have come across a greater investment opportunity that is staring me in the face . How they have pulled this off under the noses of billion-dollar companies involved in this space is remarkable. One reason might be, the top engineers of the big producers often leave and set up their own small companies. Is this what has happened.?
George Stapleton
Thu 03/06/2021 23:32
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To:
Cc: Alex Blyumkin
Depending upon ore saturation, we expect to produce roughly 1.5 tons of sand per barrel of bitumen produced. Approximately 65% of this sand falls within the desired standard 40-140 mesh range preferred for frac sand, so we should produce roughly 1 ton of frac sand per barrel.
Any revenue received from sand sales will act, in effect, as a reduction in operating costs. The estimated cost of production of $25-$30 per barrel is calculated without taking into account any reduction as a result of sand sale.
At present, we will work with a local drilling fluids company to screen and sell the sand, sharing the net proceeds. Assuming the san sells for $40-$60/ton net of transport, we hope to realize roughly $20-$30/ton.
Depending upon ore saturation, we expect to produce roughly 1.5 tons of sand per barrel of bitumen produced. Approximately 65% of this sand falls within the desired standard 40-140 mesh range preferred for frac sand, so we should produce roughly 1 ton of frac sand per barrel.
Any revenue received from sand sales will act, in effect, as a reduction in operating costs. The estimated cost of production of $25-$30 per barrel is calculated without taking into account any reduction as a result of sand sale.
At present, we will work with a local drilling fluids company to screen and sell the sand, sharing the net proceeds. Assuming the san sells for $40-$60/ton net of transport, we hope to realize roughly $20-$30/ton.
signature_1793273566
George Stapleton
Chief Operating Officer
Petroteq Energy Inc
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