Presidents' Open Letter to Shareholders
Petroteq Energy, Inc., Pioneering Technologies in the Energy Industry
About Petroteq Energy Inc.
Petroteq Energy Inc. is a Canadian-registered holding company, publicly trading on the TSX Venture Exchange (Symbol: PQE) and the OTC 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 is developing through PetroBloq
an advanced blockchain solution for the energy industry, with a goal of optimizing petrochemical industry workflow processes, (ii) has a joint venture with Recruiter.com
that provides internet based job placement and career services to the increasingly skilled and specialized energy sector, and (iii) owns a minority stake in an exploration and production play located in southwest Texas held by Accord GR Energy Inc.
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.
Oil Investment: The Time Is Now
Jan 28, 2016
"Oil is Dirt Cheap. Should You Start Buying?"
Sep 27, 2016
"Oil Production In U.S. To Soar Again Says Goldman Sachs"
Dec 27, 2016
"Why 2017 Is The Year To Invest In Oil Stocks"
Jan 11, 2017
"U.S. Oil Investment To Hit $61 Billion As Prices Surge"
Jul 5, 2017
"Oil Exports, Illegal For Decades, Now Fuel A Texas Port Boom"
"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