Oil-sands recovery by solvents has just done a licencing agreement requiring the licencee to commit to a $20 million plant,

The oil-sands recovery technique patented by folks connected with Petroteq, incorporated in California, having Canadian engineers, and a backstop financier an oil dealer in Ukraine, now is starting to move into the big-time.  Petroteq has inked a licensing agreement that requires a total $2 million license payment plus requires the licencee to commit to sourcing $30 million as capital to get started on a mining and extraction plant.  When this kind of money is cast about, it would seem that there is movement in this technology. 

When the solvent recovery system is cycled through, what the extractors are left with is a heavy oil, or bitumen. The question then arises as to how this product is marketed: either as heavy oil, or mixed with a cutting oil to dilute the material, or mixed with a carrier (such as plastic pellets or "resin") to enable use as a boiler fuel, or for transport with the pellets removed at destination. Or perhaps upgraded and refined on-site, the finished distillates then removed and sold. At this point, nobody knows.  Sure gets interesting!

I shall be watching the progress of Petroteq.  It should be noted that the stock has been substantially diluted with shares issued on the cheap, so if you are thinking in terms of investing, be careful to do a thorough diligence. 

https://ir.petroteq.energy/press-releases/detail/319

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(edited)

38 minutes ago, Jan van Eck said:

The oil-sands recovery technique patented by folks connected with Petroteq, incorporated in California, having Canadian engineers, and a backstop financier an oil dealer in Ukraine, now is starting to move into the big-time.  Petroteq has inked a licensing agreement that requires a total $2 million license payment plus requires the licencee to commit to sourcing $30 million as capital to get started on a mining and extraction plant.  When this kind of money is cast about, it would seem that there is movement in this technology. 

When the solvent recovery system is cycled through, what the extractors are left with is a heavy oil, or bitumen. The question then arises as to how this product is marketed: either as heavy oil, or mixed with a cutting oil to dilute the material, or mixed with a carrier (such as plastic pellets or "resin") to enable use as a boiler fuel, or for transport with the pellets removed at destination. Or perhaps upgraded and refined on-site, the finished distillates then removed and sold. At this point, nobody knows.  Sure gets interesting!

I shall be watching the progress of Petroteq.  It should be noted that the stock has been substantially diluted with shares issued on the cheap, so if you are thinking in terms of investing, be careful to do a thorough diligence. 

https://ir.petroteq.energy/press-releases/detail/319

VAPEX or Vapor Extracion with Solvents have been around for some time, however as you say they are constantly improving the techniques, will be interesting to see how for they go as it’s all based on a favorable oil price.

The biggest issue is what to do with the feedstock once you have mined it, the process is highly toxic and uses inefficient processes to free the heavy oil by hydrocracking etc which further increases its carbon footprint and requirements of energy to carry out said refining.

All the same good to see that even the oil sands market is being considered as viable. Canada needs it and probably holds the worlds biggest reserves that if exstractable will put Canada up there with KSA in oil reserves.

Edited by James Regan
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2 minutes ago, James Regan said:

VAPEX or Vapor Extraction with Solvents have been around for some time,

James, this seems to be a technique that uses a combination of liquids rather than a vapor.  The liquids act as solvents, dissolving the bitumen from the sand, leaving nice clean sand behind  (which itself has a market, although how much money can be in it is another issue).  I have been looking at the patent and it makes interesting reading!  I think these guys are onto something.  Cheers.

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10 minutes ago, Jan van Eck said:

James, this seems to be a technique that uses a combination of liquids rather than a vapor.  The liquids act as solvents, dissolving the bitumen from the sand, leaving nice clean sand behind  (which itself has a market, although how much money can be in it is another issue).  I have been looking at the patent and it makes interesting reading!  I think these guys are onto something.  Cheers.

Jan would be great to see this tech evolve and give the oil sands a good rep, many out there want to see it vanish but the potential is just to massive to turn a blind eye and forget it exists.

Keep us posted👍🏻

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Alberta bitumen does not require solvents to extract the bitumen. I am not an expert on the scientific terminology but I remember reading it had to do with the way the bitumen bonds to sand particles and water molecules saturated in the mixture makes it possible to separate using only steam. I also remember the article saying alberta bitumen is unique and other bitumen deposits in other places do require solvents.

 

It must work good because the "dirty tailing  ponds" everyone talks about are full of white sand that looks like  a florida beach.  That is the coarse tailings anyway. The medium and fines look like mud. 

 

 

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38 minutes ago, Keith boyd said:

Alberta bitumen does not require solvents to extract the bitumen. I am not an expert on the scientific terminology but I remember reading it had to do with the way the bitumen bonds to sand particles and water molecules saturated in the mixture makes it possible to separate using only steam. I also remember the article saying alberta bitumen is unique and other bitumen deposits in other places do require solvents.

 

It must work good because the "dirty tailing  ponds" everyone talks about are full of white sand that looks like  a florida beach.  That is the coarse tailings anyway. The medium and fines look like mud. 

I've studied the science and have dealt with Petroteq.  The problem with solvent techniques always comes down to recovering the solvent, which generally costs 3x what the bitumen is worth per barrel. I wish them luck but am unconvinced. 

Keith, you're further correct that the bitumen is different. Petroteq has land in Utah that is better suited, because the oil sands are oil wet, versus the Canadian sands which are water wet. The water interferes with the solvent. 

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27 minutes ago, Ward Smith said:

Keith, you're further correct that the bitumen is different. Petroteq has land in Utah that is better suited, because the oil sands are oil wet, versus the Canadian sands which are water wet. The water interferes with the solvent. 

The question then arises if that water component can be independently extracted by exposing the wet sand to vacuum. You should be able to pull the water (moisture) out of the mix quite rapidly, effectively a form of flash distillation.  That would really open the flood-gates. 

It is my understanding that Petroteq, either directly or indirectly, has leases on reserves of some 3 billion barrels of oilsand oil in Utah.  That is a lot of oil!  Should keep them busy for a while.

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