Petroteq Energy Inc (PQEFF)

[Tkrtape]

There are major currents running against this company, which show no signs of abating anytime soon.
Despite its unique technology and low cost structure for extracting oil, the current price of WTI will prevent any institutional bank funding and any
Potential licensing deals. The profit margins just aren't there to put new money into this technology with oil
Routinely below $45.00 WTI.
Further, this company is dribbling more OS each month or two, now close to 80 million.
Expect a reverse split of anywhere between 1:5 to 1:10 by June if bank funding does not come through
For a 2,500 bpd extraction plant. Due diligence has taken much more time than MCW ever expected on this project and is further hampered by correct range of WTI.
Also, the company is too cash strapped to meet their timeline on
Finishing a much needed 250 bpd capacity addition to their current plant. If oil prices held in the high 30's
They could at least get to cash flow positive at 500bpd.
It's the worst time possible for MCW
To try and make a go of it. I also think that many conventional oil companies have found ways to extract oil at equivalent costs to MCW, so I find it highly questionable about any claim that they are the lowest cost producer in America.
They need to show that a 500 bpd plant can produce cost effectively at
Less than $26 per barrel, otherwise they are going to be stuck in this
Virtual oil producing jail indefinitely.
This company could have hit a home run 5 years ago, now it's unlikely they will get to 1st base.