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Petroteq PQE (TSX) 40c (Canadian)


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Petroteq have patented an environmentally safe extraction method - The Clean Oil Recovery Technology (CORT) of heavy oils from oil sands, oil shale deposits and shallow oil deposits. Basically they suck the oil out of the sand and leave only clean pure sand as a byproduct. They reckon this method costs between $22 and $38 per barrel. They have some land in Utah which they are currently extracting 1,000 BOPD which they plan to increase to 4,000 in 2020 and 8,000+ by 2022. At 5,000 BOPD they see just short of US$30m EBITDA. Current MCAP is £40m.

Their runway is potentially extended by licensing out CORT for land remediation.

The chart has formed a lovely base at 20c before moving up to 40c currently.



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