Petroteq Energy Inc. Stock Analysis PQE.H.V

Petroteq Energy, Inc. is a holding company, which engages in the development and implementation of proprietary oil sands mining. The company is headquartered in Sherman Oaks, California. The company went IPO on 2008-08-06. The firm is focused on the development, implementation and licensing of a patented, environmentally safe and sustainable technology for the extraction and reclamation of heavy oil and bitumen from oil sands and mineable oil deposits. The firm's subsidiary, Petroteq Energy CA Inc. (PCA), is engaged in the business of exploring for, extracting and producing oil and hydrocarbon products from oil sands deposits and sediments located in the Asphalt Ridge area of Uintah County, Utah. The firm specializes in oil production with ancillary offerings in mining and sand remediation. The firm's clean oil recovery technology (CORT) is used at its Asphalt Ridge Plant to extract and produce crude oil from oil sands utilizing a closed-loop solvent-based extraction system. The technology can be applied to both water-wet deposits and oil-wet deposits-outputting high-quality oil and clean sand.