Over the course of the past week, the Petroteq Energy Inc (OTCMKTS:PQEFF) stock has delivered gains of 330% and this morning the rally in the stock continued as it clocked gains of another 45%.
There has been no fresh news regarding Petroteq this morning. However, the rally in the stock was triggered last week after the integrated oil firm announced that processing work has recommenced at the oil sands plant located at Asphalt Ridge.
It was a major development for the company considering the fact that operations at the plant had been suspended following a cessation order from the Department of Oil, Gas and Mining of Utah on May 14, 2021. The work at the plant had been suspended by the authorities since Petroteq had been processing offsite oil sands ore there.
However, that had not been mentioned in the Notice of Intent from the company. On May 31, the company also announced that it has continued to get queries from its shareholders in Europe in relation to the offers for acquiring their outstanding shares. An offer had been published in the official publication of the magazine named Bundesanzeiger, which is published by the Department of Justice and Consumer Protection of Germany.
 Stock Hits Another New Highs: How far can it Go?){kind=link}