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I believe we should all be hoping for the NFA scenario, under this scenario we can still produce till February 2024

No further activity ("NFA")

· Assumes no further investment in the Lancaster field, with Hurricane executing a wind-down of operations commencing when production from the field is no longer economic. Decommissioning would follow as soon as practical after production ceases
· Economic limit: February 2024 (at the forward curve1) with potential future recovery from the Lancaster field of 10.0 MMbbls (at 1 Jan 2021)2
· Based on the NFA scenario, the Company expects Lancaster field production to average 8,500 - 10,500 bopd in 2021, based on production from the P6 well alone on artificial lift via ESP and a 90% production efficiency estimate. Lancaster has averaged 11,100 bopd year to date and is currently producing from the P6 well at 11,700 bopd with an associated water cut of 28%.

The most likely scenario for the Company is that no further investment activity is sanctioned in the near term. This will require stakeholders to provide support and concessions, which will be required to extend the life of the field, but would not require further investment in the Lancaster field.

let's face it all private investors are waiting by the grace of crystal amber to do something. They are the only one's who can salvage something.

ENPNEW Logo
Petroteq Energy Announces That Production of Oil From its Oil Sands Plant has Recommenced After Implementing Certain Process Enhancements
ENP Newswire
29 April 2021, 1299 words, English,
© 2021, Electronic News Publishing. All Rights Reserved.

Release date - 28042021

Petroteq Energy Inc. ('Petroteq' or the 'Company') TSXV:PQE)(OTC:PQEFF) (FSE:PQCF), an integrated oil company focused on the development and implementation of its proprietary oil-extraction technologies, is pleased to announce that its oil sands plant at Asphalt Ridge (the 'POSP') has been restarted after a shutdown to allow for certain additional enhancements that were required to be made to the POSP in order to allow for a more efficient and optimised extraction process.

The required additional equipment has now been successfully installed and tested, and the POSP is again producing oil.

George Stapleton, Petroteq's COO, commented: 'After optimizing the extraction process following initial plant start-up, we determined that certain equipment additions would improve not only the process of extracting bitumen from the oil sands ore but also the removal of clay fines from produced oil. The required equipment has now been installed and commissioned, and we expect that the projected improvement in operating efficiencies will help support the third-party review of the commerciality of the extraction process. We will look to fine-tune the various plant systems with the view to increasing production rates and, if warranted by operational and economic conditions, moving to a two-shift operation. Much has been learned from operation of this demonstration plant and all of these lessons learned are now being incorporated into the Front End Engineering Design ('FEED') of a 5,000 barrel per day ('BPD') production train, which is currently underway.'

About Petroteq Energy Inc.

Petroteq is a clean technology company focused on the development, implementation and licensing of a patented, environmentally safe and sustainable technology for the extraction and reclamation of heavy oil and bitumen from oil sands and mineable oil deposits. Petroteq is currently focused on developing its oil sands resources at Asphalt Ridge and upgrading production capacity at its heavy oil extraction facility located near Vernal, Utah.

Petroteq believes that its technology can produce a relatively sweet heavy crude oil from deposits of oil sands at Asphalt Ridge without requiring the use of water, and therefore without generating wastewater which would otherwise require the use of other treatment or disposal facilities which could be harmful to the environment. Petroteq's process is intended to be a more environmentally friendly extraction technology that leaves clean residual sand that can be returned to the environment, without the use of tailings ponds or further remediation.

I understand that some would have not understood the conversion price yet, I very much doubt it's £2m worth of PI money.

I know there was 169,625,236 sold on Friday roughly equating to £2M, however people are saying that the Equity is worth around £2m so the share price will be 0.1p. My question is who is buying the other 163,247,109 on Friday which equates to roughly £2m as well. Clearly someone is still supporting the SP at 1p as surely there has to be some institution that bought £2m on Friday, I understand a portion of it may be private investors who bought in for a trade but it's highly unlikely that they bought £2m of them if it were to drop to 0.1p, a that's stupidity and b they would lose 90% overnight.

I wonder if Crystal Amber are supporting the 1p and they were buying / averaging down further on Friday ?

open to any other suggestions but I would not have expected 1p if the equity value was 0.1p on Friday, if that makes sense ?

In fact I would rather see it rejected and see a controlled winddown at this stage then give 95% to bondholders. Shareholders have got nothing to lose now. If 2020 has shown anything is that we need to be activists to drive change and the game should no longer be in favour of the big boys in this case the bondholders. I would happily support any other plans perhaps even a takeover as low as £100m but not this. Hope Crystal Amber come up with something and go with a fight and we as shareholders collectively will support them.

It will not be a good look on the OGA approving such deal which wipes shareholders like this. We should start a petition.

If the restructuring is done via the courts by passing shareholders it sets a dangerous precedent fo future shareholder security I hope the high court of justice lookout for shareholders the little guys and reject the proposals. We as private investors should write to the high court of justice ahead of 21st may perhaps alongside CA if they don’t have any other angle

It could be a combination of shorts closing and crystal amber averaging down further..

The late buys on Friday are roughly around 2% of the total shares in issue, I think the remaining shorts could have closed and they have bought back the shares ?

Shares bought (40,000,000) /( 2,000,000,000) = 2%

Current short position is 2.10%

Final results could be put in the next few days now that CPR has been realsed

It would not surprise me if CA continue to buy at current levels and average down and then try to muscle the board on the right direction.

Seems like things are making headway in Niger, pipeline works, ground facilities infrastructure all the pieces of the puzzles are now lining up

https://www.upstreamonline.com/field-development/petrochina-seals-700m-africa-ground-facilities-deal-to-help-keep-belt-road-on-track/2-1-983869

Niger - Projects - Oil - Pipelines
Global Energy Research
21 March 2021, 119 words, English,

The commissioning of new crude oil pipelines will enable the country to export crude oil to raise production levels.

Niger has signed an agreement with Benin for the construction of an oil pipeline linking the Agadem oil fields to the port of Cotonou to facilitate the export of crude oil. CNPC and WAPCO (West African Oil Pipeline Company) have undertaken the realization of the pipeline, which requires an investment of nearly US$4bn with around US$1bn financed by the CNPC. The work started in September 2019 and should be operational in January 2022. This pipeline was preferred over the originally planned pipe to the port of Kribi in Cameroon via Chad.

Strong evidence that a hostile takeover is incoming interesting to see how this narrative plays out but definitely feel that someone is preparing to swallow us whole. Question is what price 10p would seem reasonable strong cash and eventually will be equivalent to bond value. So if CPR is good and proves additional reserves and resource future upside for the purchaser plus tax losses which they can offset

Niger news has to be close, new presidency will like to see some expediaited progress to achieve their eventual goal

https://www.theafricareport.com/67978/niger-mohamed-bazoum-elected-president-beating-mahamane-ousmane/amp/?utm_source=twitter.com&utm_campaign=post_articles_twitter_24_02_2021&utm_medium=social&__twitter_impression=true

Brilliant find zengas 600MW capacity and currently running 225MW could double and we already supply them gas if they can get to fully capacity then they will need plenty of gas from us. Things get better here day by day

Brilliant news effectively we are now working with schlumberger in development of the asset. Could easily see previous highs of 14p in the next few sessions. More imminent news to follow now.

We all know about the oil at Agadem but we could also monetise GAS at the Agadem field. The potential here is massive watch this Space things are heating up in Niger

Niger - Projects - Electricity - Gas
Global Energy Research
7 February 2021, 70 words, English,
Copyright 2021 Enerdata s.a.s. - All Rights Reserved

There are plans to build a power plant to be supplied with gas from the Agadem field. The power plants could have a capacity of 500 MW (5 units of 100 MW), but so far there is no concrete project.

In addition, a 50 MW gas power plant is under consideration to be built in Diffa in the south east of the country.

Last Updated: 20200601

Enerdata s.a.s.

https://www.africaintelligence.com/oil--gas_exploration-production/2021/02/03/cnpc-silently-prepares-massive-battle-plan-for-agadem-crude-exportation,109640009-eve