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Tech Breakthrough Could Clean up Oil's Dirty Image
[November 29, 2017]

Tech Breakthrough Could Clean up Oil's Dirty Image

LONDON, November 29, 2017 /PRNewswire/ --

The jury is in on global oil dominance: The U.S. is poised to become the definitive leader, driven by unparalleled technological advances that could lead to growth of 8 million barrels a day by 2025.
The judge is the International Energy Agency (IEA), and the ruling is clear: The U.S. oil boom was just getting started with fracking. The next phase is phenomenally high-tech, and should turn the U.S. into a net exporter of fossil fuels. Commentary today includes: PDC Energy, Inc. (NASDAQ: PDCE), RSP Permian, Inc. (NYSE: RSPP), Encana Corporation (NYSE: ECA), National Oilwell Varco (NYSE: NOV), Transocean (NYSE: RIG)

And the tech doesn't get much higher than a breakthrough that can take the 'dirty' out of the oil sands production process and unlock trillions of barrels trapped in the sands in Utah, Colorado and Wyoming.

But that's just where the dominance starts: The tech may be licensed globally where countless trillions of barrels of oil are waiting to be tapped into without leaving behind a toxic tragedy everywhere from Canada and Venezuela to Kazakhstan, Nigeria and Angola-as well as a handful of high-profile venues in between.

The technology is proprietary and patented, and it is expected to produce oil at around $22 per barrel, leaving clean, dry sands and without using all the water that is crucial to dry states.

The company behind it is Petroteq Energy Inc. (PQE.V; PQEFF), and it's where North American oil gets another advancement which could form the backbone for Phase II of the oil boom.

And beyond market-defying $$22 oil production costs, and technology that renders dirty oil sands production clean, the upside in rising oil prices, increased heavy oil demand and global licensing opportunities ring loudly with people who are paying attention.

Here 5 reasons to keep a close eye on Petroteq Energy Inc. (PQE.V; PQEFF)

#1 The Key to Trillions of Untapped Barrels of Oil

Petroteq already has a significant claim to fame: Its patented oil extraction technology is the first ever to generate sales from Utah's massive heavy oil resource.
Existing oil sands extraction technologies use tons of water and leaves behind toxic trailing ponds. Petroteq's system produces oil and leaves behind nothing but clean, dry sand that can be resold as fracking sand or construction sand or simply returned to Mother Nature.
In tests to date, it extracts over 99% of all hydrocarbons in the sand, generates zero greenhouse gases and doesn't require high temperatures or pressures. For Utah's 32 billion barrels, this tech is the Holy Grail.
The end result? The extracted crude oil is free of sand and solvents and then pumped out of the system into a storage tank.
The only other place that has oil sands tech is Canada, and it doesn't compete. It's designed for wet oil sands and Petroteq is after the dry oil sands bonanza.
"The wet tech kills the environment," says Petroteq Chairman and CEO, Aleksandr Blyumkin, "But we use green additives that allows the sand to be removed in a very clean manner. No other company has what we have in this space."

#2 New Production by February, 2018 at Market-Defying $22 per Barrel Production Costs

Utah, Colorado and Wyoming represent over 1.2 trillion barrels of oil equivalent in oils sands and shale, and Petroteq is uniquely positioned to use its proprietary tech to tap into this resource and contribute to the U.S. energy independence equation in a significant way.
Utah alone is home to more than half of all U.S. oil sands deposits, and the Unitah region has been producing oil since the 1950s. It's got more than 32 billion barrels of oil sands waiting to be extracted from 8 major deposits. It's also got fantastic infrastructure, with 5 major refiners with truck routes to Salt Lake City, and a royalties set-up that makes great sense for operators.
And it's right here-in Asphalt Ridge-that Petroteq has 87 million barrels of oil equivalent.
Even better, this is heavy oil-producing oil sands that can be accessed directly from the surface, so there's no risk of running into a 'dry well'.
Better still, costs to produce are expected to come in at only $22 a barrel.
With one plant, Petroteq (PQE.V; PQEFF) says it's potential is $10 million a year in profit with $20-$30 per barrel production costs at today's oil prices.
Now the modular plant has been moved even closer to oil resources and is being reassembled. New production will launch in early 2018, and the goal is 5,000 bpd in 2019 at a cost of production of as low as $18 per barrel. And there's potential, says Petroteq, to achieve 30,000 bopd with proven reserves.
Demand is expected to be voracious with oil that comes in at a $20 discount to WTI. And that's just the oil from a single plant: This story gets much bigger if you read on.

#3 Global Licensing Opportunity with 12 Hot Oil Sands Countries

Oil sands has long been sidelined because it's dirty. So, proprietary technology that can extract oil sands without leaving behind toxic trailing ponds is highly sought after.
This is far from a simple story about another small-cap oil producer. Petroteq's technology could generate millions in licensing fees around the world, and it is eyeing the opportunity to file patent in all countries with oil sands reserves.

This technology is aimed to be deployed to cleanly unlock oil resources representing hundreds of millions of barrels of oil around the world. Licensing is a revenue stream that can flow to Petroteq (PQE.V; PQEFF) with no associated capital expenditure.
Worldwide, the licensing opportunities are vast, with over 12 countries home to major oil sands deposits.
Fortunes can be built on licensing fees, and Petroteq could have this segment cornered.
There's even more upside beyond global licensing: Petroteq's technology can be used for remediation, cleaning the tailing ponds created by traditional extraction methods for oil sands.

#4 Petroteq Thinks Big Picture with Blockchain Deal

Petroteq tech visionaries won't be left out of anything. That's why they're also moving fast on the hottest industry the world has seen in a century: Blockchain technology, the backbone of cryptocurrency, and soon it could be the backbone of energy trading.
There is no industry that will remain untouched by the Blockchain revolution, and energy is no exception. It could make oil and gas trading phenomenally easier, and supermajors like Shell, BP and Statoil are hot on its trail.
Blockchain will make energy trading efficient and transparent, and it will save oil and gas companies money in the process, so Petroteq (PQE.V; PQEFF) is poising itself as one of the earliest energy entrants on this revolutionary playing field.
The company is in the process of signing an agreement with First Bitcoin Capital, which specializes in crypto currency and Blockchain development. The visionary small-cap will be licensing the blockchain built by IBM and will use this to make it industry-specific, giving the entire spectrum of oil-from upstream to downstream-access to massive data.
The product is expected to be finished in 6 months, and when it's unleashed it is intended to be a free, open-source Blockchain for massive oil trading data.
Petroteq's masterminds have already been busy courting major energy players on multiple continents to get involved.
Bitcoin might be worth over $8,000 per coin, but the real cryptocurrency is data-and this could be a gold mine for the energy industry.

#5 Visionary Team with Impeccable Timing

This management team is savvy and forward-thinking. That's why it sees the opportunity not only in producing the first clean production process for oil sands, but also in licensing its proprietary tech worldwide, and embracing the even bigger picture-blockchain.
And Petroteq (PQE.V; PQEFF) is hoping to position itself as a sort of "Google" of the energy industry, at a time when oil prices are on the upswing and demand for heavy oil is set to rise.
When the Saudi Crown Prince arrested key members of the royal family on corruption charges last week-all of them his rivals - oil shot up. West Texas Intermediate (WTI) spiked more than $2 a barrel, closing around $57 a barrel-a nearly two-year high.
It's a good time for heavy oil, too. Billions of dollars will be deployed to rebuild U.S. infrastructure and it requires exactly the kind of heavy oil that Petroteq is scheduled to start producing again in February, 2018.
The U.S. over-supply of oil is ending, according to Forbes.
U.S. production growth has focused on light oil, and heavy oil is in strong demand, particularly on the Gulf Coast, where the billions of dollars put into heavy oil refineries means it needs a lot of oil to feed them. The discount for heavy oil is disappearing.
That's why Petroteq Chairman and CEO Aleksandr Blyumkin is pumping millions of dollars into his company, including an interest-free loan to expand production at its Temple Mountain, Utah, facility.
It's a superbly timed vision backed by an oil extraction tech genius, Dr. Vladimir Podlipskiy-a UCLA chemical scientist with a slew of patents behind him. The team also features another technology giant, President Dr. R. Gerald Bailey, a former Exxon president of Arabian Gulf operations.
By February 2018, when production is expected to resume from the relocation of their modular facility, Petroteq may be in the investor spotlight. And when Blockchain technology related to oil data is unleashed in about six months, it may change again. When this breakthrough tech starts licensing globally, it will be a great day for Petroteq and its shareholders.

Other oil related stocks to watch closely:

PDC Energy. (NASDAQ: PDCE): PDC Energy, Inc is an independent exploration and production company. With operations in Colorado, Texas, and Ohio, the company is well represented throughout the United States.

RSP Permian, Inc. (NYSE: RSPP): RSP Permian, Inc (NYSE: RSPP) is an independent oil and natural gas company based in, you guessed it, Texas. The company's corporate headquarters are located in Dallas while its primary operations are located in the Permian Basin of West Texas. No stranger to the scene, RSP is well established in one of the hottest drilling locations on the planet.

Encana Corporation (NYSE: ECA): Encana saw its share price fall on the back of disappointing third quarter results, but markets can often overreact in earnings season and there is no doubt that the general trend is up in today's energy markets.

National Oilwell Varco (NYSE: NOV): At over $31 its stock isn't cheap, but this is still a good price, and National Oilwell Varco is sure to play a role in the coming oil market recovery when offshore rigs are reactivated-especially since it controls some 80 percent of all drilling-related equipment on rigs.

Transocean (NYSE: RIG): This offshore rig giant has had a tough year in one of the sectors hit hardest by the oil price crash, but it may well be time to get back in here as its stock price looks to have bottomed out and be trending upwards again. It is safe to say that RIG has survived the worst, and with a new CEO on board it looks to be turning things around.
By. Charles Kennedy


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 and at the targeted low prices from its Utah property; 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 achieve its goals; 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, PETROTEQ may not raise sufficient funds to carry out its plans, changing 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 assist PETROTEQ achieve its goals; competitors may offer better technology; and despite the current expected viability of its projects, that the oil cannot be economically produced on its properties. Currently, PETROTEQ has no revenues.


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