Petroteq Energy Inc V.PQE.H

Nasdaq

[bmorganstock]

Petroteq Energy was producing 1,000 barrels of oil per day by the end of 2018 at the Asphalt Ridge facility.[11]On July 12, 2018 Petroteq Energy submitted an application to be listed on theNASDAQ.[12]In early 2020 during theCOVID-19 pandemicthe Asphalt Ridge plant in Utah was forced to scale back production and personnel due to problems with logistics. By September 2020 Petroteq Energy operations in Utah began to return to normal operations.[13]In July 2020 Valkor Engineering, a strategic partner of Petroteq Energy, and Aleksandr Blyumkin made an investment of $600,000 for 15 million common shares of Petroteq Energy.[14]Shares of a debt transaction of 45 million common shares was issued to Valkor Engineering in satisfaction of $1.8 million of $2.5 million owed to Valkor Engineering for previous engineering work.[15]