Post by
ScarletSpider on Sep 26, 2022 7:42pm
More and more it looks like Data Simulation
and from what I see no actual oil produced. People really have to read the press releases and see what is being stated because in none of the ones when looking for the fact oil has been produced to any extent I have yet to find it. If one goes back to August 2 2021 it says technology verified by third party engineering firm. If you read that news release it looks like the company was running variables based on design and numerical assumptions stating that theoretically the company can produce one barrel of oil at around $22 per barrel. If you flash forward to August 11th 2022 you see another release talking about the CORT and potential production based on engineering designs and number of potentially produced barrels of oil so I have been looking and yet to find that any oil has been produced but theoretically using equipment a specially formulated solvent that breaks down ores and leeches out the oil from the crushed and shaken ores through the process described and even illustrated theoretically as a projection all of these are viable. It is like if you watch Deadly Warriors and people test out all the weapons and strikes and run all the data through a computer that simulates battle between two opponents who is likely to win. The only difference here is so far I haven't found any actual oil produced to any extent so it looks like they are going on assumptions based on the breakdown of ores and projecting out the numbers. Now if I am wrong in what I have written and someone sees something else which shows that oil has been in fact produced due share from the actual petroteq news releases I will be interested in knowing as I know people are questioning the legitimacy. As far as whether the company is misleading well it is talking relative truths by this I mean given there are third party engineering teams verifying the tech works based on certain assumptions and only to the degree of those assumptions the tech is valid as to working however again so far I see no evidence of oil being produced to any degree so to that extent the claim that the tech works is not valid as in reality unless I am missing it I don't see any degree of oil actually produced. So this company so far is working in relative truths and I call a grey area. Until they actually show something beyond a hypothetical calculation based on simulations is going on there is no pragmatic oil production here at this time but this is not to say it can't happen. Now I am a lay person and don't know all these designs and whether they separate the oil from the ores when crushed heated shaked whatever all of that is along with the proprietary solvent breaking things down further so until they show this which is what the company is trying to get the plant up and ready for this is still all abstract and extremely high risk. I definitely will hold off buying anything else and I may now consider using some shares to trade vs pulling them indefinitely off the table. Unless I see oil being produced I will have to handle this holdings carefully. Like the other poster who said we need to see oil production to whatever level I fully agree. Having said this if the company believes the process can work sells it to others that also holds that view backs it and puts money into getting the plant going to get it done great. But honestly I don't see that leap right away what I see as more viable is for the company to use its solvent in existing oil production plants and going from there. Now what all these licensing to the person who has operations in Libya and Iraq is all about I am taking is for exactly what I stated they were of 2 million each and why would anyone pay that? This thing needs to be more clearly stated by the company just exactly what is going on here and if they are not spelling it out well we need to be aware exactly what is going and act accordingly. I am not here to say what people need to do with their shares or to promote not promote the company possibility I only came to share my thought as to whether legitimate or not all I can say is one has to be very careful with this company because clearly people may be expecting something and this may not be exactly that right now. Whether it gets there are not is another story but this is a very risky and speculative stock from what I begin to see more and more of. If this company actually produced some oil under controlled environments and looking to build on that that is one thing if not as to what I can tell that is another. In any case like I said I am not looking to post too much but thought to share this. If I missed any official news release where this company produced any oil to any extent and someone sees it in company press release not people talking about the company but actual press please do share I know I won't be the only one who will be grateful for that. I gave my opinion as to what I have gathered highly risky highly speculative stock. Good luck all.