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Petroteq Energy Inc V.PQE.H

Alternate Symbol(s):  PQEFF

Energy Oil & Gas E&P
Petroteq Energy Inc. is a clean technology company. The Company is 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. The Company's subsidiary, Petroteq Energy CA Inc. (PCA), is engaged in the business of exploring for, extracting and producing oil and hydrocarbon products from oil sands deposits and sediments located in the Asphalt Ridge area of Uintah County, Utah. The Company specializes in oil production with ancillary offerings in mining and sand remediation. The Company's clean oil recovery technology (CORT) is used at its Asphalt Ridge Plant to extract and produce crude oil from oil sands utilizing a closed-loop solvent-based extraction system.


TSXV:PQE.H - Post by User

Petroteq Energy Inc
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Comment by BlueMetal75on Nov 12, 2019 8:16pm
129 Views
Post# 30342753

RE:NR: Petroteq Reports Planned Automation Completion Date

RE:NR: Petroteq Reports Planned Automation Completion DateLol, that didn't take long!

I posted this morning my question about how the Company would pay for the 3,000 bpd expansion at Asphalt Ridge. I expressed my preference to use debt, rather than dilution, to pay for it. I further added that perhaps the company was waiting to demonstrate steady production of 1,000 to the financial institutions, and then would seek out debt financing.

It wasn't an hour later that the Company released a PR, where (thankfully) they fully confirmed my speculations. Lol, I guess I'm psychic!

But the bottom line is that this is fantastic news for us. The Company stating that they will seek to use debt financing (instead of dilution) to pay for the production expansion is huuuuuuge! 
Bullboard Posts
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