- An obscure Swedish company has issued notice of a public tender for up to 200 million shares of Petroteq Energy at a price equivalent to approximately $0.58 per share.
- The unusual and mysterious proposal has dramatically increased trading volume and awareness of Petroteq on Reddit.
- More fundamentally, the company has slashed G&A by more than 50% and seems to be making progress in establishing production at its pilot plant in Vernal, Utah.
- Establishing that the pilot plant can consistently produce saleable product is the key to sustainable share price performance.
- The identified potential supports a value of $0.17 to $0.29 per share.
For further details see:
Petroteq Energy: Valuation Update And Comments On A Peculiar Proposal