If you are on the hunt for oil company stocks at this point in time then it might be a good move to consider taking a look at the Petroteq Energy Inc (OTCMKTS:PQEFF) stock. The company, which is involved in implementing its patented oil extraction and remediation techniques, saw its stock jump by as much as 6% yesterday following a key announcement.
Yesterday, the company provided an update with regards to the filing of the Form 10Q in relation to its quarterly report and other related documents for the period that ended on May 31, 2021. In its update yesterday, Petroteq noted that it believes that it is going to be able to file the requisite documents by August 13, 2021.
It is a significant development considering the fact that back on July 16 this year; Petroteq had announced that it was going to be able to file those documents by September 10, 2021. After Petroteq had a round of equity as well as debt financing, the current financial situation of the company appear secure.
These are all positive developments for Petroteq and it seems that the market has taken notice as well. It remains to be seen if the stock can maintain the momentum.