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@Vauch - would they commit $110 MM to build the plant on land which has not been paid for? Interesting contractual contracts for debate.
https://twitter.com/PetroteqI/status/1423224540981772288?s=20
https://twitter.com/PetroteqI/status/1422143351885864961?s=20
https://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=TOM.L
In the scheme of things 1 mill will be pocket change
The best way forward is to pay at end of 2022 as the plant would be up and running, pay of the rest with production from site.
So it would pay for itself.
Yup, or buy by year end and save $1million
They have until Dec 2022 to buy the remaining 90%, and in the meantime they can proceed to build the plant as they have the lease but you know that dont you?
@Torre.. for your information
"Following completion of the acquisition of the initial 10%, Greenfield will then have an exclusive option, at its sole discretion, to acquire the remaining 90% of the Membership Interests for additional cash consideration of US$15.25 million, if acquired on or before 31 December 2021, or US$16.25 million if acquired between 1 January 2022 and 31 December 2022."
I assume they would want to get the project up an running asap and avoid paying an extra $1 million for the land?
By the way, whoever takes over Petroteq imo will not grant licences at $2m. They will monopolise the process. Now what would that make our multi site licence worth?
Thanks for your reply,, happy days ahead….
Who knows , but nowhere near a penny lol.
The multi site licence is worth an awful lot of money. It is the only one. No one else will get that. It will be $2m a pop at least (if you can get one). Now the process has 3rd party verification it will be attractive to a lot of majors, whoever does not win the bidding war for Petroteq will turn to Greenfield imo.
Torreaguas, what price would you expect if we are taken over….?
They DO NOT have to come up with $16m in a few months that is simply not true. Go read it properly
The Petroteq offer is getting better and better, as the only company with a multi site licence to use the tech Tomco should see a very nice rise imo.
Greenfield in which Tomco owns 50% are sat on a very valuable licence. I can see the buyer of Petroteq turning its attention to Greenfield once the Petroteq deal is complete
Why offer such a massive premium for Petroteq to then have little old Tommy running around securing leases in Utah with its multi site licence to then bring in an oil major to finance it all? Makes no sense. I think whoever is buying Petroteq will then take us out .
Will not be long before this hits national news,
sit back and hold on
The bidding war has started,
https://www.bundesanzeiger.de/
"Balmoral Investments Limited
Leeds
Voluntary public tender offer to the shareholders of Petroteq Energy securities identification number A2DYWC, ISIN: CA71678B1076
Balmoral Investments Limited, Leeds, offers the shareholders of Petroteq Energy to acquire its shares (WKN A2DYWC, ISIN: CA71678B1076) at a price of EUR 0.66 per share. The offer is limited to 3,000,000 shares. For larger quantities, please inquire. Minimum purchase: 1,500,000 shares. In all other respects, acceptance shall take place in the order in which the declarations of acceptance are received. The offer ends on 03.12.2021, 18:00. (CET)
The public tender offer and the purchase contracts concluded on this basis are subject to German law. This Offer is not directed to shareholders in any jurisdiction in which such Offer violates the laws of such jurisdiction.
Shareholders wishing to accept the Offer are requested to declare this to Balmoral Investments Limited, 114 Burley Road, Leeds, West Yorkshire, telephone: 0044-113 868 0834, e-mail: Info@offerbalmoral.com, no later than 03.12.2021, telephone: 0044-113 868 0834, e-mail: Info@offerbalmoral.com, and to transfer the shares to the custody account of Balmoral Investments Limited. The purchase price will be transferred immediately after receipt of the shares to a bank account to be designated by the shareholder. Leeds, 02/08/2021
Balmoral Investments Limited
Im sure we will have Greenfield reverse into Tom so be ready
For Valkor it will remove them from finding the cash but still have a chunk of the co.
Allowing Greenfield to use the mass of Tomco's Losses from the past against future profits.
And better access to funds
@Torre.. - Confident in TOM but not same with Valkor. My eyes are on the DD for the land atm so Valkor can wait. Sooner or later though they have to come up with their share of the cash. I look forward to hearing from all parties how they will fund the $126 million required. IMO there will be no funding until a successful DD on the land is completed as I have previously stated. (I would not lend money until that is done).
So as for selling up? It would be premature ahead of the DD. Assuming a positive DD then Greenfield/Valkor/TOM have to come up with $16million in the next few months between them to pay for the land. If Valkor then come up with its share then I definitely would have more confidence in them coming up with the remainder to build to 5000 bbl/day plant. I trust I have answered your question, and you accept that I am not de-ramping. I take notice of posters who back their statements with proof. In Valkor's case I have not seen it.
Great day today, about time! Onwards and upwards. RR
Valkor is an LLC so it’s very had too get any info, he is very successful and have heard that he personally has put a lot into this!
1. Valkor had an unlimited license with PQE and has put this into Greenfield
2. Valkor has a technology subsidiary that specialises in oil technology
https://www.proactiveinvestors.co.uk/LON:TOM/TomCo-Energy-PLC/rns/796684
On 4 December 2019 the Company announced the signing of a non-binding memorandum of understanding ("MoU") with Valkor to explore the oil sands potential across the Group's oil shale leases within the Uintah Basin, Utah, USA ("Leases"). Valkor is an international Engineering, Procurement, Construction and Installation and field operations company, with operations in the US, South America and Africa both on and offshore and the owner and operator of gas and oil fields in Trinidad, USA, Turkey and the Ukraine. Through their subsidiary, Valkor Energy Services, they have assisted with the design improvements of Petroteq Energy Inc's ("Petroteq") closed loop system for use in the recovery of oil from oil sands (the "Oil Sands Technology") and has a licence from Petroteq to utilise the Oil Sands Technology in the USA.
https://stockhead.com.au/energy/hydrocarbon-dynamics-selling-utah-oil-sands-project/?amp
DYOR
minimil, i would suggest you sell up and move on. you are clearly not confident and I am sure you can find another share for your cash which may give you more confidence. Why would you be invested here if you are not confident?