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From the LSE BB for Tomco
genty1974
Posts: 67
Price: 1.475
No Opinion
RE: whats cooking?
Today 12:39
expect a licensing deal here with petroteq and tomco i have got both in my locker now hold a fair amount of #PQE shares and the re rate is only just starting for both.. very cheep for both , petroteq will take a 5% royalties on the billion dollar oil asset that tomco have.. load up
It looks like Tomco thinks it has 1.6/1.7 billion barrels of oil. The radio tech they are testing obviously won't do the job. Maybe add this to the list of third party plants along with QEM.
So that that would be Valkor, QEM and Tomco with plants.
DYOR
I think having their own plant they can (physically) show how the technology works, and having production of 1,000BOPD in its self is a money spinner especially when they will get say $5+ above WTI.
I think they over promised, maybe didn’t have the tools or people for the job 18 months ago.
Thing is at this point and current SP it’s a great risk/reward play, it’s how I see it anyway. Far better punt than AOGL anyway...
https://twitter.com/Smudgedann/status/1198894506592161792?s=19
DYOR
My fundamental question is this: did they (mistakenly) call out the 1,000bopd because it is a sexy number that could excite investors or is it fundamentally part of the proof of concept. In other words, do they feel the technology is only proven if they demonstrate 1000bopd? Feels odd to me. If the technology is proven and the plant produces for example 750bopd, are we saying it is a disaster?
Find that really odd: my pov is that in this case, it’s merely an issue of capacity but the technology works.
Luther is correct - this will be the first commercial plant. Inflection point. Fingers crossed.
"The Company believes that the Plant may be the first commercial plant in the U.S. to demonstrate a technically and economically viable technology for the extraction and upgrade of crude oil from U.S. oil sands and bituminous sandstones. For more insight into the Company’s proprietary technology, referred to as a “Clean Oil Recovery Technology” or “CORT”, and the potential growth opportunities the Company may have using CORT, please watch the video entitled “Petroteq Vision”.
Petroteq say they have had many enquiries - international eyes are watching ; the big investor returns is in the Licensing/JVs.
“Technology advancement in unlocking the enormous deposits of global oil reserves has been our focus in achieving energy independence and economic expansion,” stated CEO David Sealock, “and Petroteq’s CORT (Clean Oil Recovery Technology) is a primary key to develop the tremendous surface mineable oil sands resources in the USA and internationally. Petroteq’s technology has the potential to open these resources to new development opportunities and with this should come tremendous value potential.”
They called the 1k BOPD target 18 months ago (and it’s been a hindrance tbh) so that’s why it keeps being mentioned. Was never going to straight forward as it’s something nobody else has achieved successfully.
The 1k BOPD shows the world the tech works. It’s why it’s so important they hit it and quick.
btw, where does this 1,000 bopd target come from/is based on? Feels to me it’s a bit of a red hearing in a sense that the technology doesn’t fall or stand with e.g. either 600bopd or 1000 bopd? Yet, if they don’t hit the 1000bopd, I fear it will keep haunting them. Or am I missing something?
thanks, Ors
Maybe the ramping was even too much for Twitter lol.
I did see it though and looks impressive, no idea if it’s impressive enough for 1,000BOPD. But I think it’s getting close to finding out how good/bad the tech is. They’ve had enough time and money, no more excuses.
Hoping they’ve cranked the work force into 24/7 production, should give 600BOPD+ straight off the bat.
it was a 1 minute video posted of the plant in full automation mode - impressive sight. Obviously someone broke the posting rules.
As announced previously they plan an investor update soon, production news etc in a conference call - that date will be released this week.
sorry, page doesn’t exist says Twitter (biting my tongue!)
https://twitter.com/PetroteqEnergy/status/1198563372108832770
The BOD has had to keep issuing shares because they are not generating income. If the share price were higher all they would be doing is issuing shares at a higher price. Now that the automation has been dealt with, we should have confirmation that this is a thing of the past. Next is for them to confirm either that they have moved to 24/7 working or when they will do so.
I think you're missing the point due to your deluded tunnel vision ramping. If there was a smidgen of interest, the BOD wouldn't have to keep diluting the shares to pay debt or refinance because investors would actually invest ergo the share price wouldn't be the dog diarrhea it currently is.
That's my last response to you because quite frankly you're not worth the time or effort.
Your original point was that no one was interested in the licensing, not what the share price currently is.
My apologies, due to the excitement of all this growing interest I must be reading the share price incorrectly. It must be $2.50 and not $0.25
QEM Quarterly report published 31/10
https://www.asx.com.au/asxpdf/20191031/pdf/44b3q1sz2w705q.pdf
Don't believe anything I say, read it for yourself.
DYOR
"Nobody is interested"
1. Investors are; the income from licensing will be a multiple of the income from its own production.
2. Valkor is: the solution is an engineering package that it is now marketing to third parties. The Valkor deal is a $2mil fee and 5% of the gross revenue less the water and solvent cost. Valkor is committed to funding at least one plant by December 20.
3. We already know that they are in discussions with multiple third parties including QEM. QEM have said that they have 583mil barrels in place at Julia Creek. QEM have said that the trials so far have been successful and the next step is for a bulk sample to be processed through Asphalt Ridge.
4. Steve Byle, who is the head honcho at Valkor,owns multiple oil sands assets.
All in the public domain.
DYOR
Licensing the technology is why the company was formed.
Just waiting on production numbers then there will be huge interest. Watch and see.
Licensing - of which nobody is interested and if the oil they extract is as diluted as the shares in issue, nobody ever will be.