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What was that you were saying...something about $1.50 by the end of Feb 2020? Same old junk stock promoting bullsh*t. God bless you and your penny stock portfolio.
Hahaha, bless your heart old timer. If you want to keep riding the pump and dump penny stock waves, more power to you. Maybe if you keep sniffing Slickosia's butt, he'll bring you on as an intern in one of his fake offices in Irvine. I hear it's a really easy job. You just have to sign up a bunch of fake accounts on investorshub and pump his stock.
You want a good laugh? Do some real research on VIVK and Nicosia. You won't be able to stop laughing.
Hahaha, purchase the company? After you do that, I have some property at the north pole I'd like to sell you.
How much is VIVK paying you?
Having personally spoke with Slickosia and one of his underlings...I find this board hilarious.
Swagman...or should I say David Sealock?...thanks again for your continued delusions of grandeur.
Have a Merry Christmas!
Here's an interesting discussion about Petroteq found on oilprice.com
https://community.oilprice.com/topic/6714-petroteq-issues-shares-to-insider-dilutes-the-common-stock-again/
Much more informative than the bullsh*t the paid stock promoters keep flooding this board with.
Their "plant" is at the mining location on Highway 45. The location you see at the west end of 1500 S belongs to another company.
Here's a map linking the current Petroteq site (the location south of Vernal on highway 45) to the original MCW/Petroteq site off highway 121.
https://www.google.com/maps/dir/40.4464905,-109.6292818/40.3368446,-109.4875486/@40.3709325,-109.5796727,16029m/data=!3m1!1e3!4m2!4m1!3e0
If you drew a diagonal line directly between the two, it would follow along Asphalt Ridge. They have built up more structures on the current site since this satellite photo was taken.
I'm not sure what the status is of the original location off 121. I've seen trucks coming and going when I've driven by. I know they got in trouble for not making lease payments awhile back.
Well said. Also, the flashy advertisement videos they make a couple times a year are questionable.
I've mentioned several times on this board that I live just a few miles from their plant. I drive by every now and then, and see very little activity. I've spoken with the Utah Division of Oil, Gas, and Mining, and no one over there seems to know how to verify whether Petroteq is actually selling any oil like they claim. Since it's an oil sands lease, they are only reporting the ore that they've mined, not what amount of oil has actually been produced. With traditional oil companies, every barrel of oil gets reported. Seems like a huge problem to me. I've also contacted SITLA (who manages the state lands that Petroteq has under lease) and they told me that there is actually no mining activity on the state lands...only on the private leases that are adjacent...I believe the private lessor is out of Reno, NV. Therefore, I wasn't able to verify any royalties were actually being paid to SITLA/Utah. Also, I'm no expert on investigating a company's financial statements, but when I looked at Petroteq's earlier this year, they looked pretty awful.
I've personally done business with Vivakor and the people behind it. It was comical. Atlanta1 knows what he's talking about.
I would not be surprised at all to see a PETROGOLD or similar division. Another company that was at one time (and may still be) a "partner" with Petroteq is Vivakor. They also like to tout their proprietary oil sands extraction technology and top secret solvents. I personally did some work for Vivakor. It was one of the sketchiest dealings I've ever been through. Vivakor also has a precious metals division called Viva Ventures. Its CEO is a notorious promoter of questionable businesses (you'll find some discussion on him on investorshub). The hilarious thing about the job I did for Vivakor was they hired me to vet another individual miner who was trying to sell them on some BS mining claims near Petroteq's facilities that expired decades ago. Not sure what it is about the extraction industries that attracts these types...but I supposed it's been going on forever.
US Oil Sands is another example. They couldn't even pay their bill to local hotels in the Uinta Basin.
SCAM. The short answer is Petroteq is a borderline scam. They are following the same path as other oil sands companies that have come and gone in the Uinta Basin. A lot of BS. A lot of paid stock promotion. Not a lot of results. I've followed them for 5-6 years now when they were MCW. Most of the posters you see on this forum are paid stock promoters or robots trying to pump up the stock. It's comical.
Another string of robot posts. Drove by petroteq's site twice last week. An absolute grave yard.
Sounds like they are following the example set by US Oil Sands before they went bankrupt!
Haha, those paid stock promoters sure are persistent with recycling old news.
What happened to the 1000 barrels a day they've been forecasting for years now?
This looks like a carbon copy of US Oil Sands which was also operating in the Uinta Basin in the past several years. They went bankrupt a few years ago. I believe the assets were then acquired by a new company whose sole shareholder was a major shareholder in the original company.
There will always be shills, paid stock promoters, and people with their heads buried in the sand, haha.
Taking it a little personal, huh Swagman? David Sealock, that you?
Haha, drove by the Petroteq location 4 times this week. Completely ghost town.
Nice background on Petroteq f/k/a MCW and other local failure U.S. Oil Sands: https://srsroccoreport.com/biggest-breakthrough-energy-investor-warning/
If Petroteq wants to be a legitimate company, maybe they could start with spending less time making these cheesy promo videos that reek of BS. Also, stop the posts by obvious paid stock promoters.
Look at the other oil sands outfits that have been in the Uinta Basin, and the history of oil sands extraction in the Uinta Basin. Look at the promoters behind some of those other companies. There's a pattern of operations that somehow hang on by a thread for several years before fading away. Petroteq appears to be on the pathway to be the next.
Haha, the paid promoters or robots are out in force these last few days.
Just want to add, I spoke with both the Utah Division of Oil, Gas and Mining (UDOGM) and the State and Institutional Trust Lands Administration (SITLA), and neither knew of any way to verify the production claims of Petroteq. The only "production" that is monitored is the amount of ore mined. SITLA says the "production" activities really aren't taking place on their leases...the "production" is taking place on the private lease which is right next to the SITLA leases. I'm pretty sure I know who the private lessor is (a guy/company out of Reno, NV). So, perhaps they might be getting royalties and production reports. The other possibility would be obtaining information from Utah taxing authorities...but I don't think they would just hand that info over to the public.
Haha, I was gonna say...definitely a paid stock promo.
Drove by 930 am. Saw two guys standing around one of the conveyors. Couldn't see if anything was actually moving on the conveyors. It's not that far from the road, by the way it's laid out it's hard to tell if anything is actually going on there. Maybe if I get bored, I'll drive up Asphalt Ridge (land formation that runs SE-NW near their plant) and fly my drone over, haha.
I'm off work today. I'll drive by and see if what's cooking out that way.
Another thing to note is that the article only says 10000 bbls "produced." Not "produced and sold."
Except there is no way to verify that these production numbers are authentic...at least not with the Utah Division of Oil, Gas, and Mining. All they report is the amount of ore mined. Traditional oil and gas producers report the barrels produced to the Utah Division of Oil, Gas, and Mining. They might report something to SITLA, but only part of their leases are on SITLA land. The other part is private.
Just drove by their location, and the place was a ghost town. Must be spring break.
I've personally done "business" with VIVK. The main guy I dealt with seemed honest enough at times, but I got the feeling he was getting caught up in something he didn't totally agree with...the top guy, who many on this forum refer to as Slickcosia, seemed pretty shady. He's been in trouble with the feds recently for peddling BS dietary supplements. It's hilarious that he goes from diet pills to oil sands. You can't make this shit up.
Of all these oil sands companies in the Uintah Basin, the one that seems the most legit is Enefit, the Estonian company.
I live in Vernal. I've seen other oil sands companies come and go, and I've talked to older residents that have seen previous waves of oil sands companies come and go. They are total scams! I made a small investment in PQEFF about 5 years ago when it was MCM. It sounded like an interesting company with some promising technology. I've lost about 99% of the value of the investment, haha. I've also watched as US Oil Sands, another company operating near Vernal, go under. Same story. Promising technology and assets, but never actually produces anything. Same type of shady background characters when you look into who is behind the company. Can't even pay their bill to local hotels, so they offer stock in exchange, then the company tanks. I've personally done "business" with another oil sands company that supposedly has connections with PQEFF (I work in the oil industry). The people I dealt with were definitely shady. Of course when it came time to pay the bill, they disappeared. I had to track down personal email addresses, phone numbers, other places of business and home addresses to finally put enough pressure on them to pay up. Same story..."offices" located in Las Vegas and Southern Cal that are just BS answering services. These guys are masters at making people think they are just one big break away from successful operations, but it's all just smoke and mirrors. All positive media coverage is paid for by the company itself.