Petroteq Energy Inc V.PQE.H

PQE sitting on a gold mine....UTAH Black Gold.

[hintonkid]

According to the PQE website Utah is sitting on about 32 billion barrels of non-conventional oil reserves.  Oil Sands.  Reserves that are not on the radar of many.  No one is protesting in Utah about dirty oil and there do not appear to be any of the other contriversial issues that the Fort MacMurray non-conventional oil reserves are plagued with.  Further to this, the USA is not as adverse to the construction of new pipelines as is occurring in Canada where such developement is blocked at every turn.

The USA does need non-conventional oil for some applications and if these oil reserves can be developed at far less cost then the Fort MacMurray reserves and using the technology, proven and available through PQE, that can process this oil cleanly and for around $18.00 to $20.00 per barrel which is far less than the $70.00 to $80.00 per barrel cost of the Fort MacMurray reserves, PQE will become the new darling of the US and world oil industry.  

In the new year PQE will embark on it's goal of producing 1000 boe/day of the Utah non-conventional oil reserves with a further goal of producing up to 5000 boe/day of the Utah non-conventional oil reserves.  By having an operational facility, producing this non-conventional oil at such a low cost in an enviromentally friendly way companies such as Exxon Mobil, Chevron and others will be able to see the process, first hand.  If they like what they see it could mean a major shift in investment away from Fort MacMurray and toward Utah which would be a tremendous loss for Canada and the Alberta economy in particular unless Canadian companies such as Suncor and Syncrude adopt this process as well and scrap their current methods of production that are costly and have a major stigma attached to the Oil Sands operations.  If they can do away with their massive lagoons, adopt the PQE technolgy that does not require large amounts of water, settling ponds or release emmissions into the air, produces oil for a low cost and leaves squeeky clean sand behind it would be a game changer and a revival for the industry in Alberta.  Additionally, Alberta and oil sands developers would be able to meet or exceed their carbon emmissions reductions and instead of the this oil being saddled with the 'DIRTY OIL' mantle it, too, could earn the 'CLEAN OIL' perception in the eyes of the world. PQE's technology offers salvation and  resurrection for the  Oil Sands and the Alberta economy and renewed investment in the province.