Petroteq may be the first company of its kind with an environmentally friendly drilling system.
While climate change and the oil industry continue to butt heads, Petroteq Energy Inc. (US:PQEFF)(CAN:PQE) is focused on bridging the gap. Petroteq is focused on creating value through the development and implementation of proprietary technologies for the environmentally safe extraction of heavy oils from oil sands, oil shale deposits and shallow oil deposits.
The $350 billion energy industry is in the crosshairs.(5)
Climate change is a very real crisis that we are confronting as a human race. Politicians, environmentalists, and concerned citizens have become worried about the oil industry’s impact on the planet. There are concerns about air and water pollution, carbon emissions, and petroleum-based energy industries.
Governments around the world appear to have even started to call for fully replacing petroleum-based vehicles for electric vehicles. All in the name of saving the environment.
President-elect Joe Biden has also gone on record saying, “I would transition from the oil industry, yes…because the oil industry pollutes significantly.”(6)
He is not making this up. According to Earthworks:
However, not all drillers are running into this issue. In fact, there is one driller that has revolutionized a way to extract trapped oil in an ecologically-friendly way.
This method extracting oil may be the first of its kind in North America and perhaps the world. It could also help unlock trillions of dollars’ worth of oil around the world.
Petroteq is the only known company with ecologically-friendly technology to tap into trillions of barrels of “trapped” heavy oil in Utah, Colorado and Wyoming.
Petroteq has developed a unique, environmentally safe, continuous flow, closed-loop technology for extracting oil. They may be the first company of its kind in North America, as well as the world, that has been able to bridge the gap between big business and environmental consciousness.
In fact, the company’s Enhanced Oil Recovery (EOR) system can extract up to 99% of all hydrocarbons without releasing any greenhouse gases, or using water.
The licensing opportunities for its EOR closed-loop system are staggering as well.
The largest oil drillers in the world could use this very same system, and unlock trillions upon trillions of heavy oil locked away in oil sands.
However, the largest oil drillers on the planet won’t want this just because it’s environmentally friendly. It is extremely efficient and cost-effective as well. Petroteq Energy’s platform can produce oil for as little as $25 a barrel with plans of producing 5,000 bpd by the end of 2022.(9)
Somehow, this $9.86 million company’s stock is trading at less than 10 cents a share.
Utah may hold over 30 billion barrels of undeveloped oil sands resources. While states such as Texas and Alaska get the most attention as the energy powerhouses of America, Utah at the moment holds around 55% of the nation’s total oil sands deposits concentrated in eight major areas. With Utah’s oil sands as the potential life blood of domestic energy, Petroteq’s technology takes center stage.(10)
At the moment, Petroteq Energy is working to develop its oil sands plant in a remote stretch of desert known as Asphalt Ridge, with the goal of restarting in late November 2020.
In addition, a recent survey of the Petroteq lease properties identified three key areas where the oil sands ores appeared to have higher oil saturations than what was previously mined.
The areas sampled show very rich oil saturations ranging from 14 to 18 percent by weight. Ore with an oil saturation of 14 per cent contains roughly 0.8 barrels of bitumen per ton of ore.(11)
The area from which the samples were taken is estimated to contain approximately 60-70,000 tons of mineable ore. This is expected to sufficiently feed the Company’s oil sands plant at Asphalt Ridge for over three months at a production rate of 400-500 barrels per day.
After finding triple bottom support in recent months around $0.025, the stock catapulted to a high of $0.112. This is good for a return of approximately 348%. Not long after, Petroteq pulled back to a double bottom support at $0.04, where it has become technically oversold on relative strength (RSI) and on Williams’ %R on a two-year chart.
In addition, BarChart is showing bullish technical indicators on the stock. Most notably, Petroteq’s 20-100 day MACD oscillator, 20-200 day MACD oscillator, 50-day 100 day MACD oscillator, 50-150 day MACD oscillator, 50-200 day MACD oscillator, and 100-200 day MACD oscillator, are showing bullish signals. (Source 12)
Petroteq has advantageously positioned itself in this new energy era with a strong and experienced management team
Interim Chief Executive Officer, Chairman of the Board
Aleksandr Blyumkin, co-Founder and chairman of Petroteq Energy Inc., has a wide range of experience in the energy industry. After achieving significant success in downstream operations on several energy projects in Azerbaijan, Ukraine and the U.S., he recognized a worldwide need for a safe, environment-friendly oil sands extraction technology. After many years of technology research, Alex and his team discovered the origins of what is now Petroteq’s groundbreaking extraction technology.
VLADIMIR PODLIPSKIY, PHD
Chief Technology Officer
Mr. Podlipskiy has extensive experiences as a researcher in many senior science disciplines, involved in oil extraction technologies, car care, household consumer and cosmetic products and research into mould remediation products, all with a focus on the utilization of benign solvents/solutions.
DONALD CLARK, PH.D.
Donald Clark utilizes his knowledge of geological resource assessments to assist Petroteq in its oil sands leases and future resource property acquisitions. He also provides counsel on reviewing hydrocarbon reserves and resource reports, feasibility studies and NI 43-101 reports. Dr. Clark develops financial models and analyzes commodity price fluctuations, as well as operational and transportation costs of oil and natural gas leases.
R. GERALD BAILEY, P.E.
Dr. Bailey has over 50 years of experience in the international petroleum industry in all sectors, both upstream and downstream with specific Middle East skills and U.S. onshore/offshore sectors. Mr. Bailey is a current Director of Petroteq Energy, Inc. as well as its former CEO, he also serves an advisor to Petroteq’s Petrobloq project. He is currently the Chairman of Bailey Petroleum, LLC, a consulting firm for major oil and gas exploration and development corporations.
Mr. Abrams performs the duties of a financial advisor for Petroteq Energy Inc. He has sat on many corporate boards of a diverse range of public and private companies (established entities and start-ups) and has extensive experience in strategic planning, capital structure, public market launches and research. Mr. Abrams was the original seed investor for Akeena Solar (NASDAQ: AKNS) (2006 – 2010), assisting in the launch of an IPO, and was successful in multiplying its market cap 15 times in one year to $400 million.
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