Executive Summary
Petroteq Energy Inc ($PQE: TSXV), earlier known as MCW Energy Group Limited, is a company engaged in oil sand mining and processing operations in the USA. The Company has mineral lease agreements covering approximately 1,671.91 acres in the Asphalt Ridge area of Utah. These leases give Petrotec the right to mine, extract, and produce petroleum, associated hydrocarbons, and minerals from the oil sands, including heavy oil and asphalt. $PQE share price closed at $0.015 on Dec 26, 2023, indicating stability in the stock market and had a market cap of $13,380,782.
Petroteq Energy Inc. was founded in 2010. It is headquartered in Sherman Oaks, California. In May 2017, the company changed its name from MCW Energy Group Limited to Petroteq Energy Inc. In addition to oil sands operations, Petroteq Energy is also involved in developing a blockchain-based supply chain management platform for the oil and gas industry. The platform aims to improve transparency, efficiency, and security in industry supply chain processes.
Introduction
Petroteq is a clean technology company. It is focused on developing, deploying, and licensing green, sustainable, and patented technologies for the extraction and recovery of heavy oil and asphalt from tar sands and recoverable oil reserves. This versatile technology can be applied to both water-wet and oil-wet reservoirs and provides high-quality oil and clean sand. Petroteq’s process is aimed at a more environmentally friendly extraction technique, leaving clean residual sand that can be sold or returned to the environment without the need for tailing ponds or further remediation.
Problem Statement
The global mining market size grew from $2022.6 billion in 2022 to $2145.15 billion in 2023, at an annual growth rate of 6.1%. However, Petroteq Energy Inc. shares were not performing as per expectation. As a professional stock promotion and IR company, we use to analyze such projects to what can drive growth in the stock market. At that time the shares of the company were trading at very low prices and the share price of the company was displaying huge volatility in the stock market. Though the company’s trading volume was relatively good, the selling demand for the shares was very high. $PQE shares didn’t have enough buying demand. In such a situation driving investments for the company by implementation of IR strategies was a challenge.
Problem Identification and Methodology
We as a professional IR firm took a deep look at the company’s financial fundamentals and compared it with stock performance. After preliminary analysis, we discussed with Petroteq’s officials and proposed an IR plan to be implemented to raise its share buying demand. After getting a proposal like this from us, the company officials were surprised and analyzed the proposal. They also inquired about our credentials. After satisfaction with our stature and credibility, they agreed with us. Implement strong IR strategies and online marketing campaigns such as Investor Communication and retargeting, social media promotion, Investor and Community Relations, video production, and YouTube promotion.
Solutions Implemented
After a meeting with our IR team members, we started social media campaigns on different platforms to promote the company, its shares, and products/services to the prospective investor community along with paid ad campaigns to drive enough leads. IR strategies such as Chat Room Management, email marketing, and Influencer Marketing were galvanized to create a “wow factor” for the company.
Results & Outcomes
Strong social media campaigns and dedicated IR strategies started to deliver results after a month-long effort. First thing, we noticed that share price began to stabilize and volatility reduced. There was a positive investor sentiment for the company in the stock market leading to strong buying demand. Thanks to the sustained effort of our IR and social media team who made things possible at the earliest.