Presidents' Open Letter to Shareholders

Petroteq Energy, Inc., Pioneering Technologies in the Energy Industry

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About Petroteq Energy Inc.

Petroteq Energy Inc. is a Canadian-registered holding company, publicly trading on the TSX Venture Exchange (Symbol: PQE) and the OTCQX trading platform (Symbol: PQEFF). Its offices are located in Toronto, Ontario, Canada, Los Angeles, California and its initial oil sands processing plant is in Vernal, Utah.

Petroteq is engaged in the development and implementation of its proprietary environmentally friendly heavy oil processing and extraction technologies. The proprietary process produces zero greenhouse gas, zero waste and requires no high temperatures. The Company is currently focused on developing its oil sands resources and expanding production capacity at its Facility at Asphalt Ridge, Utah. The Company also (i) owns a minority stake in an exploration and production play located in southwest Texas held by Accord GR Energy Inc., (ii) has a joint venture with Recruiter.com and Oilprice.com that provides internet based job placement and career services to the increasingly skilled and specialized energy sector, and (iii) is developing through PetroBloq an advanced blockchain solution for the energy industry, with a goal of optimizing petrochemical industry workflow processes.


PetroBloq

Blockchain for the Oil & Gas Industry

Petrobloq will be the first Blockchain based platform developed exclusively for the supply chain needs of the Oil & Gas sector.



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"Oil prices seemed to bottom out in early 2016...Have been more stable in 2017 as a result of two OPEC agreements to rebalance the market...2017 could be one of the best years to invest in oil stocks in quite some time" - Motley Fool


The Opportunity: Recovering Heavy Oil Has Been Difficult

In Utah, Colorado and Wyoming alone, there are 1.2 trillion to 1.8 trillion barrels1 of oil locked insand and shale
- U.S. Department of Energy


Existing processes require large capex/economies of scale, leave  vast tailing ponds that take  years for land reclamation


OUR SOLUTION: CLEAN TECHNOLOGY & OIL PRODUCTION


PATENTED CLEAN TECHNOLOGY

  • Modular and Small Foot print/capex
  • Produces no greenhouse gases
  • Requires no high temperatures/opex
  • No waste – leaves clean dry sands
  • Could be deployed worldwide
  • Could unlock global heavy oil deposits

HEAVY OIL PRODUCTION

  • 3,000+ acres leased in Utah
  • 87+ million barrels (bbl) of shallow high grade resource
  • Produced 10,000 at 250 bopd
  • Plan to relocate & debottleneck plant to 1500 bopd by Q1’2018
  • Goal: 5000+ bopd modules in 2019

PetroBloq

Blockchain for the Oil & Gas Industry

Petrobloq will be the first Blockchain based platform developed exclusively for the supply chain needs of the Oil & Gas sector.

Learn More




OTCQX:PQEFF
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TSX-V:PQE
CAD