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RE: Why the SP rise - with no production?Today 00:05
That's the way it should be that the monies received go to Greenfield or one of the companies working with them on this project.
Would be great to see an advance in the SP although I think the market is more cautious. IMO the plant needs to in full productivity to see advances over 1 penny. Markets move in mysterious ways, so you never know!
All oil and sand revenue to be retained in Greenfield.Sun 22:41
RNS Date: 1st June 2021
Snippet from RNS….
“Oil of sufficient quality and quantity has now been produced by the POSP to enable an initial shipment of 250 barrels of oil to be made. Greenfield is also working with a local specialist firm to identify potential customers for the processed sand. They have already taken an initial load of 40 tonnes and is anticipated to take a further circa 500 tonnes of processed sand over the coming weeks. All proceeds from the sale of oil and sand will be retained in Greenfield.”
Seems to be an unknown bonus, so thought I’d post it for all to see.
Let’s hope for a nice steady rise again and try to break 0.9 and dare I say it……maybe get to 1p and above. GLA
RE: Why the SP rise - with no production?Sun 18:55
The figures jotted down there by SF, I think look good as to what the site could bring in even on the smaller test pilot plant level if continuous. (not forgetting the price of oil is higher than $45 pb)
Still be nice to know how much they got ($$$'s) for the first sale of oil and the quantity, of course (key)
RE: Why the SP rise - with no production?Sun 17:55
I read it somewhere, in one of the last 5 RNS’s I’m sure that the income from the oil sales are going to greenfield. Don’t take my word for it though, always Do Your Own Research (DYOR)….as everyone knows.
RE: Why the SP rise - with no production?Sun 16:48
I think you’ll find Petroteq own the POSP and the technology so any regular income for Tomco will, at best, be a small share of the total. This is a pilot plant, utilised as a proving ground for the technology and to aid design of the new 5k plant Greenfield have in mind. So forget this plant as regular significant income for TomCo, that comes a long way down the line in 2024 when the new plant hopefully starts production.
RE: Why the SP rise - with no production?Sun 06:36
mitch, I seem to remember something of that nature, there was teething problems when they scaled up. They have been banging on about production targets for a while and rarely hear of them mentioning they have achieved them, until recently.
250 bopd constantly would also go along way in paying wages and towards teething problems 250 bopd x $45 (just for calc) = $11,250 x 5 days (mon -fri) = $56,250 and for 4 weeks = $225,000 Thats based on $45 pb
RE: Why the SP rise - with no production?Sat 22:19
I agree QS - the proof is in the pudding.
Isn't this the reason why PQE for which I also have shares, have taken time to get to this point, due to the R & D taking time to perfect or an additional piece of kit being added to allow the process to run smoother.
Correct me if I'm wrong in believing this, but I seem to remember one of the last adjustments being added because the plant didn't perform so well in colder weather when they scaled the plant up. So additional piece of kit was added to keep the temperatures more constant. Something like that.
RE: Why the SP rise - with no production?Sat 16:34
OiLynx - Yes everything looks great on paper, no denying that.
Now they have to put all those figures to the test and continually PRODUCE giving them, not first oil sales, BUT continuous Oil & Sand revenue. Saying that they could stock pile the sand and shift it say once a month or as preferred by the said buyer/s.
I wonder if there is a restriction on how much sand they can sell. Thinking along the lines of what's left after they extract oil and sell sand (in theory a big hole) - Just a mere thought, as any or all sands sales is a bonus.
RE: Why the SP rise - with no production?Fri 18:14
- First Oil Sales from Asphalt Ridge after Plant Mods & Consistent Production - Third Party Engineering To Certify Commerciality of Tech - Sand being Evaluated for Sale by Local Drilling Fluid Company - FEED 10k near Completion! https://twitter.com/PetroteqI/status/1403377880697028610
RE: Why the SP rise - with no production?Fri 13:11
The big question is today, will we hover at this level for a few days before slipping into the black hole or will we gain market sentiment taking us up and above .76 closing price for EoW, with exceptionally odd gains with little to no sales (C - i - B) . I think I'll take the first option. (I'm holding off with my next top up for 3 weeks - let the dust settle) . Grappa - you been peeping through my curtains again ! (you know so much)
RE: Why the SP rise - with no production?Fri 07:35
Guys stop replying to Quantumstar. He feeds off the replies. I stopped replying yesterday. He probably has no money and no wife and most definitely a keyboard warrior in his mummies house. Just ignore and the child will eventually get bored and go back to his toys.
Seems there was a lot of profit taking today, as well as some fairly large buy ins. The coming weeks are going to be interesting….seems an initial flurry of interest has dwindled, but will sentiment grow again??? I believe it will towards the end of the month, as we get closer to that RNS for the feed and who knows what other RNS gems they might throw at us between now and then. GLA