Petroteq has been successfully using our system to scam investors and residents of Vernal Utah for years. The Utah Division of Oil Gas and Mining has finally ended the NOI permit at TMM Asphalt Ridge and ordered Petrorteq to begin reclamation in April 2022 that was to be completed by July 30 2022. It is unclear if they have done any reclamation.
A February 4, 2022 letter from Asphalt Ridge Inc of Reno Nevada indicates that Pertoteq has been evicted from their mine site at Temple Mountain for non-payment of rent. Asphalt ridge Inc. is the owner of the land where Petroteq was operating their project. The termination of Petoteq’s right of Entry onto the property effectively terminates their mine permit at Asphalt Ridge outside of Vernal Utah.
I have been warning folks that this project is a scam for several years. The company run by Aleksandr Blyumkin has had name changes and multiple partners throughout the life of the project which was permitted in 2013. During the time they were operating as MCW they were evicted from land held by SITLA.
In June 2022 the SEC filed cease and desist proceedings against Petroteq.
They are ordered to correct the fraudulent statements in their SEC filings and pay these fines:
Petroteq shall pay civil penalties of $1,000,000 to the SEC in 4 installments within, 10 days, 180, days, 270 days, and 364 days of the court order on June 13 2022.
Aleksandr Blyumkin shall pay civil penalties of $450,000 to the SEC on a similar schedule.
The connection should be made that David Sealock was the CEO of Petroteq from March of 2018 until 2020 when he left Petroteq and bought the bankrupt “US Oil Sands” tar sands strip mine at PR Springs which was called “2020 Resources”. Now it is called “Sky Quarry” owned by David Sealock who moved from Canada to Salt Lake City to run the Sky Quarry scam.