Member Info for White-Wolf72

I got a dummy quote at 86.5 on the for all my holding so someone still wants shares.
I also think the MCAP is still low for this type of stock with this much interest.
We will see soon if the interest is still here.

Quoted share prices I've been getting this afternoon were all higher to sell than buy, how does that work and SP still went up.

Potential!! me thinks.

87 showing on Halifax

L2 showing support for a possible small rise but as always this depends on the buying and can go down Easily if sellers come in.

Wow, great press release and shows massive confidence.

I think with the time frame on the upgrades to the POSP mentioned in the RNS most traders/investors will still be trading covid stocks and think there's plenty of time to get in here later or just purely lack of sentiment.

I personally think it should be way north of where it is now, maybe 1.5 to 2.0 pence as a bottom figure but that's just my opinion.

Hopefully it will start to gradually rise now to a more realistic MCAP, possibly a few spikes along the way to a decent stable SP and then who knows what will happen when a stellar RNS drops.

I wouldn't want to chance being out of this when it happens. GLA

Good point Vauch.
Also profit from licensing, sales and operating of TurboShale.
Has anyone read if TurboShale has been offered as part of the Greenfield JV?

So Just to be clear:
1 We get 50% of Greenfield JV profits = profit
2 We get minimum 5% royalty from feed stock supplied from Tomco leases = profit
3 TurboShale comes online in 2021 for inaccessible oil sands and shale = profit
Add all this together = profit.
Well that sounds good enough for me!!!

Please correct me if I’m wrong but from what understand the Greenfield JV is a 50/50 with Tomco and Valkor. They then pay a licence and royalty fee to Petroteq and Quadrise for the tech and oil produced using their tech.
Other oil companies would then pay a royalty to Greenfield for producing oil from their feed stock in the plant built by Greenfield.
It is my understanding then that the oil owned by Tomco still 100% ours and that we pay a royalty to Greenfield for the production.

Forgot to mention the clean sand that is produced that also has the potential of being sold to the construction industry, another possible income stream from what is essential our waste product.

I think the environmental credentials is something that should be focused on more. The POSP is probably one of the most environmentally friendly ways of getting oil out of the ground.

No spewing oil, no tailing ponds no huge oil tankers to bring it to America, which is one of the largest consumers of oil in the world.

Very low sulphur content in the oil produced and the potential in the Quadrise MSAR technology for the reduction in emissions to meet new and upcoming stringent regulations.

Oil and fuel in the Marine, Industrial and power generation is still going to be required for many years to come and the cleaner and greener we can produce it and delivery it the more desirable and valuable it becomes.

All very positive IMO and very exciting times ahead!!

And not to forget the numbers - up to 10,000 BOPD per plant = approx 300 days @ at least $40 per barrel = $120 million per annum per plant.

Whats not to like about the future of this company.

Bloomberg recently reported on the sulfur content issue in refined products and fuels at https://www.bloomberg.com/news/articles/2019-08-28/sulfur-is-the-oil-industry-s-other-problem

Environmental, legal and competitive factors will continue to place enormous pressure on U.S. (and international) refiners to reduce or remove sulfur from the clean fuels and products they produce, as recently illustrated by the new international shipping standards (IMO 2020) requiring low sulfur fuels in marine vessels. Recent analyses conducted on crude oil produced from the Company’s Asphalt Ridge facility have confirmed a close to negligible sulfur content, which makes it a viable refinery feedstock for the ultra-low sulfur fuels increasingly mandated for the motor vehicle and shipping industries.

Currently, the international shipping industry uses about 5% of global oil production and the bunker fuel for ships is usually high in sulfur. Refineries around the world are not yet prepared to remove sulfur in the scale required to meet shippers needs. Therefore, Petroteq believes that its low sulfur heavy oil can fulfill this need and command a high price.

The Asphalt Ridge facility is the first commercial plant demonstrating this technology in the U.S., and to the Company’s knowledge, globally. The Company’s patented technology has already been licensed domestically, and the Company continues to explore up to 25 potential markets worldwide.

SHERMAN OAKS, Calif., Oct. 29, 2019 (GLOBE NEWSWIRE) -- Petroteq Energy Inc. (“Petroteq” or the “Company”) (TSXV:PQE; OTC:PQEFF; FSE: PQCF), an oil sands mining and production company having a proprietary technology that extracts hydrocarbons from oil sands without the use of water, is pleased to announce that the Company has achieved sales of high quality heavy oil from its Asphalt Ridge facility in Utah.

Three important characteristics in comparing the qualities of different crude oils are specific gravity (API gravity), the amount of base sediment and water (BS&W), and sulfur content. West Texas Intermediate crude oil (WTI) is perhaps the leading benchmark crude oil used in North America for pricing different crude oils, primarily because it has a relatively high specific gravity (between 37 and 42 degrees on the API scale), a fairly strict maximum BS&W content (< 1.0%), and a low sulfur content (0.42% or less by weight). Crude oils having a relatively low content are considered “sweet” while oil having a higher sulfur content are considered “sour”. Crude oils having characteristics or specifications that are comparable with WTI crude oil are often in demand by refiners and yield a higher price than crude oils having lower quality characteristics.

Using oil sands ores mined or extracted from Utah’s Asphalt Ridge area, the Company has the ability – at its Asphalt Ridge facility – to produce a crude oil that can range between a heavier oil and a medium oil in its specific gravity (i.e. an API gravity of 11 to 30 degrees), depending on refiner crude slate requirements and the refined products (i.e. lighter gasolines, medium distillates such as diesel fuels, or heavier oil feedstocks) they plan to produce. In addition, even though the heavy oil and bitumen contained in Asphalt Ridge oil sands deposits have a relatively low sulfur content, the oil produced at the Company’s Asphalt Ridge facility has an even lower sulfur content when compared with WTI crude oil. Finally, the oil produced from the Company’s facility now yields a BS&W content of about .003%, a spec that is almost 40% lower than the BS&W specification required by many of Utah’s refiners, pipelines and custody transfer operations.

Crude oil produced at the Company’s facility in Asphalt Ridge is considered a sweet medium to heavy crude oil since the sulfur content is typically below the spec for WTI, has very low BS&W, and can be customized to achieve a range of API gravities. Throughout the oil industry, the shift over the past three or so decades to cleaner fuels, particularly in the U.S., has made a low sulfur content the “silver bullet” in how crude oil is valued and priced and its use as a feedstock in refineries that are now producing low sulfur or ultra-low sulfur gasolines and diesel fuels to meet increasingly stringent environmental requirements for both on-road motor vehicles and (more recently) the international marine industry.

Hi Grumpy yes agree QFI is the only direct route to Marine fuel but the oil produced by Petroteq is very desirable by the refineries due to its very low sulphur content.

I was just saying it's not essential to Tomcos future as the POSP already produce excellent oil grades which are very desirable but agree that it would add significant value to our SP.

Hi Colin, yes MSAR is of added value.

Although is must be noted that the oil and fuel already produced by Petroteq can be sold direct to industry which is the beauty of there process

They can produce different grades which can be shipped direct without having to go to the refineries.

The Quadrise MSAR technology is a process which can be added to the POSP with several benefits:
1. This is an emulsified fuel which is diluted with water which makes the finished product more profitable.
2. Can also be sold direct.
3. Due to the water content it burns much cleaner hence more environmentally friendly which allows many big industries to meet upcoming emission regulations.

So although this process is not essential to the progress of the POSP, I agree this should add significant value to this share.

Yes I agree.

Valkor are not a fly by night company taking a pot shot at the oil industry.

They are bringing so much engineering experience and expertise to the Greenfield JV and as such adding huge value to Tomco that I am amazed that the SP is being held so low.

I think this joining of forces is a game changer and I for one am really looking forward to what is to come.

Hopefully we don’t have to wait too long for a progress update.

I think we also need to remember the future potential of our TurboShale RF as well, which is still to be field tested after the recent upgrades. This would allow for oil recovery not only from the shale but also from oil sands that are too deep to be mined.

John Potter, CEO, commented: "Continental Electronics have confirmed they are confident that on completion of the modeling work they will have identified the optimum design for the antenna and the transmission lines from the transmitter. This will allow the maximum power to be delivered by the antenna and so heat the shale formation in a more defined and efficient manner. The modeling will be invaluable moving forwards in optimising the antenna design. We, along with our partners, remain committed to the continuing development and are confident in the technology and its capabilities."

TurboShale update
Following the Company's announcement of 3 October 2019, the Company is pleased to confirm that Continental Electronics has completed its analysis of the antenna, as a result of which it has recommended a number of modifications to the setup of the antenna. These will be incorporated into a revised design of the wellhead for which the Company will be engaging a third-party engineering company. The revised wellhead will allow for a more efficient connection of the RF transmission line from the transmitters to the antenna, an integration of the nitrogen supply into the well via the antenna, to ensure its accurate delivery down the well, and a separation of the hydrocarbon recovery system from the antenna.
TurboShale RF Technology
With the completion of the field test of TurboShale's RF technology in September 2019 ("Field Test") on the Group's Holliday A Block, the Group progressed its assessment of its unconventional oil shale resources in Utah.

The lessons learnt from the Field Test and the expansion of the Group's advisory team, including IGES Inc. as the Groups Geological Services advisor, Matt Himes as the Groups Field Operations adviser, and the close support of Continental Electronics, meant the Field Test delivered significant data. Unfortunately, the main aim of the Field Test to recover enough oil for testing was not met, though sufficient evidence was generated to show the process did heat the oil shale. The analysis completed post the Field Test, with Continental Electronics, has determined the design improvements needed to the antenna and how these improvements can be implemented. However, with the global effects of the COVID-19 virus still developing, the Company has taken the decision to postpone the next test of TurboShale's RF technology. The Company will continue to explore its potential with laboratory-based testing until a further field test can, subject to funding, be planned and undertaken.

Cheers 600 and many thanks for your input.

You're welcome Sarir.

This is what I was hoping these boards where for, to help each other understand the potential
of this company with the facts that exist.

I have learnt quite a bit from some of the posts on here so glad I can add something too.

I know this paragraph currently limits the license to Utah but this statement would suggest this is plenty for now.

Utah has the nation’s largest deposits of raw oil sand, or bitumen — enough to produce as much as 15 billion barrels of oil and potentially more, according to the Utah Geological Survey.