Are we seeing a breakthrough for the shares of Petroteq Energy Inc. (OTCMKTS: PQEFF)?

The shares of Petroteq Energy Inc. (OTCMKTS: PQEFF) have evolved considerably in recent days, surpbading the major moving averages of the stock market in a clear increase in the volume of transactions. The recent move also represents a break back above the $ 1 / share level we are entering midweek.

To help foment this move, the company has just announced an agreement with Cavitation Technologies, Inc. (OTCQB: CVAT) (Berlin: WDC), a company providing highly scalable and cost effective solutions to various industries processing fluids. According to the release, "the companies have entered into a licensing agreement to test its equipment during oil production for the efficiency of the workflow and to reduce the cost of production obtained through the process of extraction of the sands bitumen from Petroteq. "

Petroteq Energy Inc. (OTCMKTS: PQEFF) presents itself as a company engaged in the development and implementation of its proprietary environmentally friendly heavy-oil extraction and extraction technologies .

The proprietary process produces zero greenhouse gases, zero waste and requires no elevated temperature. The Company is currently focused on developing its oil sands resources and expanding its production capacity in Asphalt Ridge, Utah.

The Corporation also holds a minority interest in an exploration and production facility in southwestern Texas. GR Energy Inc., (ii) has a joint venture with Recruiter.com and Oilprice.com that provides internet placement and career services to the increasingly skilled and specialized energy sector, and (iii) PetroBloq Develops Advanced Blockchain "Petroteq is a fully integrated oil and gas company that focuses on the development and implementation of a new patented technology for oil extraction. The Company has environmentally friendly and sustainable technology for extracting heavy oils from tar sands, oil shale deposits and shallow oil deposits. Petroteq is engaged in the development and implementation of its patented environmentally sound heavy oil processing and extraction technologies. Our proprietary process produces zero greenhouse gases, zero waste and requires no elevated temperature. Petroteq is currently focusing on the development of its oil sands resources and expanding the production capacity of its Asphalt Ridge heavy oil extraction facility located near Vernal, Utah. The Company also owns a minority interest in a piece of exploration and production located in South West Texas owned by Accord GR Energy Inc. In addition, the Company, through its wholly-owned subsidiary, exclusive PetroBLOQ LLC, seeks to develop the first blockchain platform created exclusively for the needs of the oil and gas supply chain.

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"We are excited to partner with CTi. With our newly renovated site, we are now exploring opportunities to make our products more profitable and efficient. We believe that it is important to engage in the innovation of our R & D with other compelling technologies that have the potential to generate scalable solutions within the company. industry, "said David Sealock, CEO of Petroteq

. Chief Technology Officer Roman Gordon said, "Over the last decade, we have introduced our proprietary technology into a number of different verticals while building partnerships with industry leaders. This agreement gives our companies the opportunity to develop and implement technologically advanced processes that will significantly improve efficiency over conventional methods while increasing margins and profitability. "

There is a cash reserve ($ 110K), balanced by about $ 5.2M in short-term liabilities, the company is pre-income at this point, and this can be a very interesting story. we look forward to updating it soon. Sign up for ongoing coverage on PQEFF $ stock shares, as well as other hot stock options, get our free newsletter today and get our next selection of snacks!