The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Once operational, this will be Vivakor's first site to process tank bottom sludge and other oil-industry based waste. The plan for the facility is to recover the oil within the sludge utilizing its patented, environmentally-friendly RPC processing technology, which has been validated for the treatment of soil. Recent testing of the RPC technology at another site showed the treated soil Total Petroleum Hyrdrocarbons range was measured between 0.2% to 0.4%, which was well within the excepted range of TPH < 1%.
RPCs are designed, engineered and manufactured off site and then moved on site for construction and the Factory Acceptance Test.
Https://feeds.issuerdirect.com/news-release.html?newsid=8655565346819686
Vivakor Achieves Milestone for its RPC in Houston, Texas
Completed Factory Acceptance Test and Now Working Toward Commercial Operations
DALLAS, TX / ACCESSWIRE / February 5, 2024 / Vivakor, Inc. (Nasdaq:VIVK) ("Vivakor" or the "Company"), a clean energy technology company focused on the oil remediation and natural resources sectors, is pleased to announce the completion of the factory acceptance tests for its Remediation Processing Center (RPC) in Houston, Texas.
The tests were done in conjunction with RK Energy and checked out all the Control Logic, Operating Screens, PLC controls, Plant Interlocks and all plant equipment/instruments/devices.
This represents a major milestone in moving forward towards operation. The Vivakor team is pressing forward to gain the necessary permits and access to power for the site, which are the final steps needed to get the RPC into commercial operation.
Vivakor Chairman and Chief Executive Officer James Ballengee commented, "This is a significant milestone and provides support for some of the rationale behind our acquisitions from the summer of 2022, as we believed in the synergies between the RPCs and our oil and gas expertise. We have now successfully completed the onsite Factory Acceptance Tests (FAT) on our Remediation Processing Center (RPC) located in Houston, Texas, and look forward to moving this unit into commercial operation."
Ballengee, continued, "We are excited to establish this first-of-its-kind center for processing and recovery of tank bottom sludge and other oil-industry waste. Millions of tons of this waste are generated annually, just within the U.S. and are typically treated with hardening agents and disposed of in hazardous waste landfills. The goal of our facility is to process this waste and recover and recycle the embedded oil - reducing the need to drill for new oil and preventing the waste from ending up in landfills."
Vivakor previously entered into a 10-year Land Lease Agreement, under which the Company agreed to lease approximately 3.5 acres of land in Houston, Texas (commonly known as The San Jacinto River & Rail Park, 18511 Beaumont Highway, Houston, Texas). When the RPC's main plant is fully operational, Vivakor's expectation is for processing 700 to 900 tons of raw material a day for an average of 600 to 800 barrels of crude production on average and production of 100's of tons of clean solids with less than 1% Hydrocarbons per 24-hour day.
As plant wide construction and main power to the facility finalizes along with the construction completion of the Wash Plant, the RPC will be ready to perform its final tuning using cleaning fluids and raw materials fed to it by the wash plant/raw material handling side.
Once operational, this will be Vivakor's first site to process tank bottom sludge and other oil-industry based waste. The plan for the facility is to recover the oil within the s
I think it said in the license agreement someone else can construct the plant but it must be with the guidance of valkor,
Not to forget this agreement
Vivakor (NASDAQ:VIVK) Inc told investors it has signed a lease with Tar Sands Holdings II (TSHII) and an agreement with Greenfield Energy, which, together, are expected to provide it with multiple years of rich oil sands supply, along with access to world-class operational services.
The South Salt Lake City, Utah-based company said the multi-year lease allows it up to 2,000 tons per day of oil sand material, which is guaranteed by TSHII to be at a minimum of 10% hydrocarbon by weight, that is expected to produce up to 200 tons of asphalt cement per day when processed through four of Vivakor (NASDAQ:VIVK)'s patented Remediation Processing Centers (RPCs).
"Locking in a reliable supply of rich, raw oil sands was an important step in preparation to execute long-term sales contracts and prepare for the continual production and sale of asphalt at our Vernal, Utah facility," CEO Matt Nicosia said in a statement.
Scottish company
We wher told at last AGM plant build would be handled by a
8,632,909 Buy
Just gone through
Not sure if I could ever trust a word that Zac guy says, but I'll certainly take a 6000%+ increase, which would only be possible if funding was agreed in full and a zero percentage of Greenfield is sold off. If we got funding on the condition that we had to sell something like 80% or more of our stake in Greenfield, then id expect something closer to a penny at most. However, this is all (IF) the dream of any funding package actually sees the light of day any time soon, if at all.
Tomco prices target for next 12 months 5p +6000%
https://markets.investorschronicle.co.uk/data/equities/tearsheet/forecasts?s=TOM:LSE#:~:text=Share%20price%20forecast,the%20last%20price%20of%200.065.
With what quadrise said, valkors drilling permits due any day, and now Tomco energy director zac phillips posting on linkin , seems it’s all coming to a head
Zac has posted a few comments on linkin, may be nothing but you could read more into it seeing we are due funding ,
https://www.linkedin.com/posts/zac-phillips-oga_debtadvisory-oilandgas-oilandgasindustry-activity-7163897526197153792-
Not surprised by today's drop, day traders extremely impatient. I see the buys coming in now to scoop these up.
We're in the same situation we were on fridqay except the anticipated news is closer.
From the 6th Sept 2023 Zac Phillips, Tomco NED and funding guru said, ".. pursuing 3 or 4 active funding channels, ... getting close to the point at which we'll be executing exclusivity with one of those fundiung channels."
Then on Friday the quadrise presentation strongly suggested that the time has come.
Now today I note Zac Phillips, Tomco's non exec director and director of "Oil & Gas Advisors" (provides its Clients with bespoke finance management support) ... I note that Zac Phillips is posting very postively today just 7 hours ago, quoting Albert Einstein; "Strive not to be a success, but rather to be of value" .
Well well, that sounds like someone that believes he has derlivered some value.
Come on let's have the news!
Think profit takers gone, but of buying this afternoon would be nice
Well, I've gone from 82% down to 75% down, onlyna few hundred percentages rises to go before I break even lol. And I'd be very surprised if it went up again today, as no doubt there will be some profit takers on anyone who got in at these extreme lows, hopefully we get another random jolt near the end of the day like last time, can only dream.
Yep, let’s see if we get another wave of buying, my account showing 5% up, so tick up soon,
No news very good imo! Somethings brewing or brewed
And no update on landlords extension for Tarsands 2,
I personally think the funding news will come this week, imo
Well his last holdings RNS says
Resulting situation on the date on which threshold was crossed or reached
14.24%
454,033,065
That is currently worth £414,384
Imagine what it would be worth should TOM get funding and be successful with it's project!.
I think he will be supporting TOM until funding is secured.
Interesting pov. Makes a lot of sense if looking at it in lehmans terms. Apologies for being lazy but how much has he pumped in to date? It’s great to have such backing and the reduction in his last investment would suggest somethings a foot. Either that or he overdone it on the Xmas shopping?
We also know that TOM got £100,000 on 13/10/23 then another £50,000 on 02/01/24. If you work out the burn rate on the £100k it's 82 days, then the £50k would last 41 days which takes them to 7 days ago, but no further raise last week, not even another £50k from our very supportive shareholder.
So that to me says the deal sign off was so close last week that they decided not to get any more cash, or they will announce another £10k to £50k raise this week. I'd thus put the chances of an RNS this week at a high percentage chance.
Trio’s CEO, Michael L Peterson, stated: “We are extremely excited to be participants in the effort to develop the giant, world-famous and world-class Asphalt Ridge heavy-oil and tar accumulation into a highly profitable oilfield. It is excellent to be able to diversify our exciting portfolio of California opportunities with such a high-potential asset in Utah, especially one that will not require a lot of additional capital expenditures according to the operator’s development plan. Development is commencing now and, with success, the Utah asset may be cash flowing in mid-2024. We now have two major assets in our portfolio, the South Salinas Project in California and the Asphalt Ridge Project in Utah. We are diligently seeking to execute on our business plan to build cash-flow, ensure the success of the Company, and to increase shareholder value.”
If you read the bottom paragraph think Tomco are also tide in,
https://finance.yahoo.com/news/trio-petroleum-corp-announces-option-110000256.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cucmVkZGl0LmNvbS8&guce_referrer_sig=AQAAAHSKXu9T302rt286tAW3TweHvVHbLnFqAig-D0KlYFzp3L-AmGdzpnLAm7o_W_VxgjID91yMhEkLxjlvveoZVI61fEkHgn0vbg3LNe_Tr-J7wWOQwTBNsl5FbxqIw8BBw3xCzdQ2MyvyuRSHCf5ItDIKAwHN_zD4sCaFr5wTpCLr
Well he seemed pretty sure it's coming together and mentioned Greenfields first, then added in an.. or this or that which is what you'd do if you wanted to back out a bit.
And the timing fits pretty well with this froma few months ago -- This is Tomco talking funding!
https://www.youtube.com/watch?v=Ca3jR5_6zmE&t=304s
Looking v positive to me, too good to be true?
Is the market sleeping? -- I don't know but I do expect to see some gains with #TOM and quite likely to see big gains.
DYOR
Well on Monday if we get another rise of 100% or over then it is definitely on.
Either way we know funding is due as it was dec then jan early 24. You could question the hesitance or you could say why was what he said worthy of a 40% move after a couple of posts on a bb.