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Ian Jenkins

Ian Jenkins

Writer for Oilprice.com 

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BREAKING: New Tech Just Unlocked A Trillion Barrels Of Oil

oil storage

Breaking Update: Petroteq (TSX:PQE.VOTC:PQEFF)  has just announced a potentially game-changing update. The company has officially submitted an application to list on the NASDAQ Capital Market – a move that could prove monumental for this company-on-the-rise.

The earth’s oil sands deposits hold literally trillions of barrels of oil.

The problem has always been accessing this oil in a practical, clean and profitable way.

The traditional oil sands extraction methods are considered the dirtiest production method on the planet… and the most expensive, with breakeven pricing coming in as high as $75 a barrel.

Now, for the first time, a small company has taken the lead in this sector – with a proven, patented and potentially highly profitable oil sands processing technology.

Petroteq (TSX:PQE.VOTC:PQEFF), a small Canadian company working in the oil sands of Utah, has developed a breakthrough, closed-loop system, that extracts clean oil from dry oil sands – for as low as $28 a barrel in high volume settings– considerably cheaper than traditional methods.

Here are the 6 biggest reasons investors should consider looking more closely at this upstart company, and its breakthrough technology:

#1 Breakthrough Oil Sands Technology

The OPEC/U.S. energy war is heating up. Recently, American production of crude oil rose to an all-time high, surpassing 10 million bpd.

In February 2018, the International Energy Agency predicted that U.S. shale output could eventually meet all new global demand, thanks to its “extraordinary growth.”

Shale production continues to grow, and even an OPEC decision to boost output won’t slow it down.

Technology is key to this battle. The U.S. national interest is focused on increasing domestic production, achieving “energy dominance” and turning the U.S. into a major energy exporter.

Oil sands don’t seem a natural solution. They have a bad reputation: investors consider them dirty, expensive and environmentally damaging.

The tar sands of Canada are the most notable example of this.

Despite being one of the largest petroleum deposits on earth, many majors had to divest from their holdings as the oil price crash of 2014-2016 made production prohibitively expensive.

Petroteq (TSX:PQE.VOTC:PQEFF) is getting ready to change oil sands’ reputation, particularly for dry oil sands like those in the American west.

Technological advances such as their patented Liquid Extraction System will become a key focus for revolutionizing the economics of U.S. oil sands deposits.

Existing oil sands extraction technologies use tons of water and leave toxic trailing ponds. But Petroteq is different.

Petroteq’s system produces oil and leaves behind nothing but clean, dry sand that can be resold as frack sand or construction sand or simply returned to Mother Nature.

Better still - it is expected to achieve production costs of as low as $28/barrel for volume production.
This is how it works:

The end results? The extracted crude oil is free of sand and solvents and then pumped out of the system into a storage tank.

According to Petroteq Chairman and CEO Aleksandr Blyumkin, “no other company has what we have in this space.”

And, their technology is already proven in test results! Petroteq has already extracted 10,000 barrels of oil at their original plant.

After months of testing, the plant is now fully up and running. Petroteq expects to produce 1,000 bpd by the end of 2018 and double that next year.

The process recovered over 99% of the oil in the rock.

#2 Unlocking 1.2 Trillion BOE in the U.S. Alone

This tech could be the silver bullet needed to unlock the oil sands of Utah.

The state has more than half of all U.S. oil sands deposits: 32 billion barrels of oil equivalent (BOE) waiting to be extracted from 8 major deposits.

The deposits have access to fantastic infrastructure. Five major refiners are nearby, and truck routes can deliver product quickly to Salt Lake City.

Better yet, the oil is near the surface, reducing the risk of a “dry well.”

Until now, the major problem facing the oil sands was economics.

The price of oil was simply too low: Utah oil sands couldn’t compete.

But along came Petroteq, with its patented oil extraction technology, which could harness Utah oil sands for cheap.

Petroteq acquired Asphalt Ridge for $10 million, giving it the rights to exploit a huge deposit of an estimated 86 million boe of bitumen in eastern Utah.

At current oil market prices, the field’s oil has gross value of up to $6.2 billion. That’s huge news for a company with a $60 million market cap.

And now, the Asphalt Ridge facility is fully operational. Petroteq is ramping up to produce 1,000 bpd this year and expects to reach 5,000 bpd by the end of 2020.

But the real opportunity is bigger than that. The potential for mass application of Petroteq’s (TSX:PQE.VOTC:PQEFF) new technology is vast.

Utah, Colorado and Wyoming together hold about 1.2 trillion boe in oil sands and shale, worth a combined $72 trillion at current market prices.

At today’s prices, and with Petroteq’s cheap methods, this huge deposit is ripe for safe, inexpensive exploitation. Oil sands owners should jump at the chance to utilize Petroteq’s methods and should deliver lucrative licensing fees in the process.

With licensing its technology, all Petroteq has to do is sit back and let the fees roll in.

Plus, there are more than 20 countries around the world with sizable oil sands deposits just like Asphalt Ridge. Canada alone has more than 100 billion BOE of oil sands, worth $6 trillion.

Worldwide, oil sands deposits are estimated at 500 billion BOE.

Petroteq plans to license its tech to companies around the world, raking in hefty licensing fees and expanding its revenue base. But it will also expand its resource base on an opportunistic basis while prices are low. A recent press release announces a 7 million barrel resource acquisition. Expect it to acquire lots more oil sands property so that it can monetize its tech on its own as well.

#3 Petroteq Aims to Revolutionize Energy Supply Chains with Blockchain

Petroteq’s EOR technology isn’t their only licensing opportunity.

The company also plans to break out another game-changing technology: blockchain.

Nothing could transform oil industry supply chain management more than blockchain.

Supermajors like BP, Shell and Equinor are getting into blockchain, because they know it will make oil and gas trading easier—eliminating the middle men and bringing more efficiency to energy supply lines.

Petroteq has its very own blockchain subsidiary, PetroBLOQ, which is developing the very first blockchain-based platform exclusively for the oil and gas supply chain.

And it can be applied GLOBALLY, to the entire oil and gas chain, from well to tanker to gas pump.

PetroBLOQ is already attracting major attention:

It was cited by Geoffrey Cann, director at Deloitte specializing in oil and gas, as a contender for best blockchain tech in the energy sector.

In January 2018 PetroBLOQ reached an agreement with Pemex, the Mexican state-owned oil company. Petroteq plans on deploying its PetroBLOQ platform to the Pemex supply chain to radically improve efficiency.

Ultimately, if widely adopted, its blockchain platform could end up involved in every single transaction in the oil and gas supply chain—upstream, midstream and downstream.

#4 Management Has Major Skin In The Game

The management at Petroteq (TSX:PQE.VOTC:PQEFF) is head and shoulders above the rest: they know the energy world and the world of blockchain inside and out.

More importantly, they’ve got their own money in the game: they’re betting on themselves to win.

Chairman Alexsander Blyumkin has invested millions of his own money in the business, including an interest-free loan he used to get the facility at Asphalt Ridge off the ground.

Founder and CTO Dr. Vladimir Podlipskiy is a 23-year veteran in chemistry, R&D and manufacturing, and a chemical scientist from UCLA. He’s the oil extraction tech genius with a line-up of patents for everything from oil extraction and mold remediation to fuel reformulators.

President, Jerry Bailey has joined Petroteq after retiring from Exxon as president of the Middle East region. He has been the face of the company for a long time – often providing energy industry advice to CNBC, CNN and Fox Business.

Chief Geologist Donald Clark, PhD, is a geologist and consultant with a wide-range of publications. Even better, he’s a blockchain tech mastermind.

Now that the Asphalt Ridge facility is up and running, Petroteq has tons of additional interest from potential partners around the world and has plans to expand its advisory board.

Together, the management team at Petroteq combines the skills, experience and innovation necessary to bring the company’s ambitious plans to fruition.

#5 We’re One Flashpoint Away from $100 Oil

Oil prices have been ticking up for months. The supply glut is gone, and markets have tightened.

OPEC is considering a boost to production, but it won’t be enough to cover collapsing production in Venezuela and Libya. Petroteq’s resource is exactly the type of heavy oil that is needed in the market, as Venezuela’s production decline has refineries looking for more heavy oil. This void in the regional market might mean that Petroteq’s oil might sell on par or at a price very close to WTI.

New sanctions on Iran will cut into oil production as well.

Saudi officials are eyeing $100 for the Saudi Aramco IPO.

But it’s possible oil prices could scoot even higher, as production bottlenecks in the Permian Basin slow down the growth of U.S. shale.

Prices are pointing upwards, and that would make the Petroteq (TSX:PQE.VOTC:PQEFF) oil sands play even more valuable.

#6 Trump’s $1.7 Trillion Infrastructure Plan

Now is the time to pay attention to Petroteq (TSX:PQE.VOTC:PQEFF) for a single big reason - the likely imminent spike in demand for heavy oil.

President Donald S. Trump has announced a $1.7 trillion infrastructure plan.

Billions of dollars will be deployed to rebuild U.S. infrastructure and infrastructure construction requires exactly the kind of heavy oil that Petroteq can produce from oil sands. Petroteq is an approved government supplier – and may generate revenues by selling the raw bitumen ore to roadbuilders.

Petroteq’s mine has supplied regional players in the market for years!

This is a story of extracting costs targeted as low as $28 per barrel of oil… in a $74 world.

Not only that - but Petroteq is the only known company with the technology to tap trillions of barrels of “trapped” heavy oil in Utah, Colorado and Wyoming.

And now, their first production facility is up and running—proof that their revolutionary concept for extracting oil sands works.

The U.S. is positioned to become the world’s dominant energy producer. And it’s all thanks to innovation from companies like Petroteq (TSX:PQE.VOTC:PQEFF).

By. Ian Jenkins

**IMPORTANT! BY READING OUR CONTENT YOU EXPLICITLY AGREE TO THE FOLLOWING. PLEASE READ CAREFULLY**

Forward-Looking Statements

This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this release include that PETROTEQ will be able to produce oil as currently scheduled, at the rates of production announced and at the targeted low prices from its Utah property; that PETROTEQ will successfully develop a blockchain supply chain solution for the oil industry; that it will have customers and contracts for its supply chain technology; that oil will be as much in demand in future as currently expected; that PETROTEQ’s technology is protected by patents and that it doesn’t infringe on intellectual property rights of others; that PETROTEQ will find licensees for its technology and that it can patent its technology in many countries; that PETROTEQ’s technology will work as well as expected; that blockchain technology will help PETROTEQ create a supply chain management system which can handle all transactions; and that PETROTEQ will be able to carry out its business plans. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that the Company’s patents and other technology protection are not valid, patents may not be granted in countries where PETROTEQ wants to license its technology; production of oil may not be cost effective as expected, technology development costs may be much higher than expected, there may be construction delays and cost overruns at the production plants, PETROTEQ may not raise sufficient funds to carry out its plans, changing and increased costs for extraction and processing; technological results based on current data that may change with more detailed information or testing; blockchain technology may not be developed to be as useful as expected and PETROTEQ may not achieve its business plans; competitors may offer better technology; and despite the current expected viability of its projects, that the oil cannot be economically produced with its technology. Currently, PETROTEQ has no revenues.

DISCLAIMERS

PAID ADVERTISEMENT. This communication is a paid advertisement and is not a recommendation to buy or sell securities. Oilprice.com, Advanced Media Solutions Ltd, and their owners, managers, employees, and assigns (collectively “the Company”) has been paid by the profiled company to disseminate this communication. In this case the Company has been paid by PETROTEQ seventy thousand US dollars for this article and certain banner ads. This compensation is a major conflict with our ability to be unbiased, more specifically:

This communication is for entertainment purposes only. Never invest purely based on our communication. We have been compensated by PETROTEQ to conduct investor awareness advertising and marketing for TSXV:PQE and OTCQX:PQEFF. Therefore, this communication should be viewed as a commercial advertisement only. We have not investigated the background of the company. Frequently companies profiled in our alerts experience a large increase in volume and share price during the course of investor awareness marketing, which often end as soon as the investor awareness marketing ceases.

The information in our communications and on our website has not been independently verified and is not guaranteed to be correct.

SHARE OWNERSHIP. The owner of Oilprice.com owns shares of this featured company and therefore has an additional incentive to see the featured company’s stock perform well. The owner of Oilprice.com will not notify the market when it decides to buy more or sell shares of this issuer in the market. The owner of Oilprice.com will be buying and selling shares of this issuer for its own profit. This is why we stress that you conduct extensive due diligence as well as seek the advice of your financial advisor or a registered broker-dealer before investing in any securities.

NOT AN INVESTMENT ADVISOR. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.

INDEMNIFICATION/RELEASE OF LIABILITY. By reading this communication, you agree to the terms of this disclaimer, including, but not limited to: releasing The Company, its affiliates, assigns and successors from any and all liability, damages, and injury from the information contained in this communication. You further warrant that you are solely responsible for any financial outcome that may come from your investment decisions.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. Investing is inherently risky. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell securities. No representation is being made that any account will or is likely to achieve profits similar to those discussed.




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Trending Discussions

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  • Bill Ballou on July 09 2018 said:
    Interesting but needs explanation for increasing daily production. 5000 bpd will not produce major earnings. Perhaps I suffer from skepticism, but I recommend caution with this one.
  • Susan Hicken on July 10 2018 said:
    Pointless to say they can extract it without releasing greenhouse gases when burning it will sure release them. Good idea, but we need to get away from fossil fuels not ways to get more fossil fuels.
  • John Marsunda on July 10 2018 said:
    1000 bpd? 2,000 bpd by 2020? You are a long way off from being profitable or contributing to any oil shortage. The Saudis just raised their production another 1 million bpd to try to stabilize prices...1,000 or 2,000 bpd will not make a penny's difference in US oil prices.
  • ed nichol on July 11 2018 said:
    I don't why it took so long. There are a half dozen solvents that evaporate completely that will do the job. It also means that there could almost be 'back yard' style refineries anywhere in the world. It would change all control from the big guys. I keep getting a feeling that the next big move in the New World Order is at hand. Energy backed by the war machine has prevailed and this might be part of the move to eliminate the war machine.
  • William Collins on July 11 2018 said:
    Just do it and forget about the "greenhouse gasses." Why should the oil industry, including oil producing countries, be constrained by a fraudulent theory. There is no "settled science" as the environmental left would have people believe. There are many scientists, etc., who disagree with this fraud.

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