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"The Tomco SP uplift is due to the imminent news for the balance of the deposit being paid."
Normally I would have expected a fall prior to the announcement, (in case it doesn't materialise or is delayed a further month) with a rise thereafter??
Unless of course "interested parties" are buying up the shares, or an info leak confirming this will go ahead has reached a buyer(s)...
The Tomco SP uplift is due to the imminent news for the balance of the deposit being paid.
"Greenfield and their strategic partners"
I wonder if these "strategic partners" involvement have had anything to do with the buying activity and SP uplift on Tomco???
TomCo Energy PLC said it is delighted with the outcome of testing carried out by Quadrise Fuels International PLC at its research facility in Essex.
Quadrise conducted a programme of tests on samples supplied by TomCo's subsidiary Greenfield Energy, taken from its oil sands project in Utah, and, it has confirmed that its technology is able to produce commercial MSAR and bioMSAR fuels. Additionally, Quadrise simulated storage and handling of both fuels.
The tests confirmed the suitability of the heavy sweet oil for commercial production for potential power and marine end-user applications, domestically and internationally.
It concludes the proof-of-concept work agreed in August 2020 between Greenfield and Quadrise.
TomCo said it will now review the report, and it expects that Greenfield and Quadrise will enter into discussions over potential future trials and the deployment of the technology.
"We are delighted that Quadrise has now completed its testing programme,” TomCo chief executive John Potter said.
“We are encouraged by the positive confirmations issued by Quadrise today and we look forward to continuing to work with Quadrise as we progress our plans for Greenfield."
Quadrise chief executive Jason Miles, separately, added: “We are pleased to have completed the testing and analysis work during August as scheduled and to be reporting the positive results to Greenfield.
“We look forward to updating Quadrise shareholders in due course as to the next steps for this exciting low-sulphur MSAR and bioMSAR opportunity in Utah, once agreed with Greenfield and their strategic partners."