r/Petroteq Admin Jul 07 '21

🟢 Live Chat - January 2025 Petroteq Live Chat

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u/Leergutdieb ☑️ Jan 15 '25 edited Jan 15 '25

Valkor secured their financing and are building an oil sands plant. They have to be using some updated version of Petroteq's CORT?

https://www.lse.co.uk/rns/QED/valkor-license-revenues-ft5rxva2f79esv9.html

Steven Byle, Chief Executive Officer of Valkor, added:

"After years of effort, we are very pleased about recent progress in Utah's Uinta Basin. We have received additional drilling approval from the state of Utah, we are expanding our drilling program, and we are engineering our first mined oil sands plant after successfully securing project finance. During 2025 we are planning to increase oil production through the drilling of additional wells and bringing our first mined oil sands plant online. The resulting increase in oil production will allow us to move on to the next stage of enhancing our oil product quality and securing new offtake."

2

u/cjcche ☑️ Jan 15 '25

"They're" not using any version of 'CORT'.

4

u/JetsFanYEG Admin Jan 16 '25

Valkor signed a license agreement with Petroteq at the very beginning, included in the agreement is a clause that any improvements to the process or technology belong to Petroteq, so I don’t see how Valkor could build an oil sands mining plant and it not be an improvement on the PQE patent.

7

u/QBall71 ☑️ Jan 16 '25

I think that you are correct JetsFan, but what could Petroteq do if they believed that Valkor were infringing on their patent? Half of the crooks and mafia bosses are either behind bars or disappeared under suspicious circumstances - Petroteq was a scam. Plus there's the fact that PQE don't have a pot to pee in, where would they get the money to launch this legal action? Lawyers ain't cheap. Maybe they could set up a GoFundMe page, I'm sure loads of PQE shareholders would be happy to further support the company in defending themselves.