re: Pqeff: The Future of Refining Sand Wells

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Pqeff

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We successfully completed construction of a 500 bpd oil extraction plant;

We sold our first commercial license to Greenfield Energy LLC for $2,000,000 plus a 5% continuing royalty;

Extensive testing of samples of heavy sweet oil produced by Greenfield Energy LLC using our CORT process at Quadrise Fuels International plc's research facility in Essex, England, has confirmed that the samples are amenable for use in the production of a low viscosity oil-in-water emulsified synthetic heavy fuel oil utilizing Quadrise Fuels' MSAR® and bioMSAR™ technologies;

We have analyzed and tested the clean sands produced as a byproduct of the CORT process, and have determined they can be sold as a resource to different industries, including for use as a potential frac sand;

We have received a FEED (Front End Engineering Design) study for a 5,000 bpd oil extraction plant. This study was prepared by Crosstrails Engineering LLC;

We have received a third-party technical evaluation for a 5,000 bpd oil extraction plant. This evaluation was prepared by engineering firm Kahuna Ventures; and

Barr Engineering, through close collaboration with the Petroteq team, is working on a full set of permits and mining plan for the 5,000 bpd plant.

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