NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V:
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Posted On: 05/09/2019 4:38:05 PM
NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) Increases Oil Sands Resource by Strategic Acquisition
Oil and gas industry technology developer Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF) recently announced that it is strategically expanding its oil sands resource through the execution of a definitive agreement to acquire an extra 50% of the operating rights and interests concerning oil sands in the state of Utah, under U.S. federal oil and gas leases. An article discussing the agreement reads, “The U.S. federal oil and gas leases encompass approximately 8,480 gross acres (4,240 net acres), the company said in a news release (http://nnw.fm/3OE9i). This acquisition, as well as the previous one carried out by Petroteq for 50% of the operating rights and interests under the same lease, will give the company 100% of the operating rights for oil sands development. . . . As per the acquisition terms and conditions, Petroteq’s wholly owned subsidiary, TMC Capital LLC, will acquire Petrollo LP Corp. – a Nevada corporation with an undivided 50% interest in the operating rights under a federal oil and gas lease located in P.R. Springs and five federal and oil gas leases located in the Tar Sands Triangle.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Oil and gas industry technology developer Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF) recently announced that it is strategically expanding its oil sands resource through the execution of a definitive agreement to acquire an extra 50% of the operating rights and interests concerning oil sands in the state of Utah, under U.S. federal oil and gas leases. An article discussing the agreement reads, “The U.S. federal oil and gas leases encompass approximately 8,480 gross acres (4,240 net acres), the company said in a news release (http://nnw.fm/3OE9i). This acquisition, as well as the previous one carried out by Petroteq for 50% of the operating rights and interests under the same lease, will give the company 100% of the operating rights for oil sands development. . . . As per the acquisition terms and conditions, Petroteq’s wholly owned subsidiary, TMC Capital LLC, will acquire Petrollo LP Corp. – a Nevada corporation with an undivided 50% interest in the operating rights under a federal oil and gas lease located in P.R. Springs and five federal and oil gas leases located in the Tar Sands Triangle.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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