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Courtesy of damac on ADVFN
The Tomco web presentation from February 2022 has the Silica at $181 per tonne.
https://www.tomcoenergy.com/wp-content/uploads/2022/02/TomCo-Greenfield-Web-Presentation-2022-02-01-02-V2.pdf
Tomco-Key-Metrics-slide-February-2022
Vivakor certainly not messing around, 12500 by summer then three more trains taking production to 50000 at this first plant.
Fast production ramp up, serious play for silica as creating a US supply would be immense and take away the dependency on other countries (big plus in current climate), used in chips etc, potentially five more supply agreements for five more plants at different locations in the future.
That is some roll out plan and we get a ring side seat with all the perks ;)
Even a tweet!
TomCo Energy PLC
@TomcoEnergyPLC
Read our latest TSHII Lease Agreement with Vivakor, MoU between Greenfield and Vivakor and TSHII Drilling Update and Warrant Term Correction
hxxps://polaris.brighterir.com/public/tomco/news/rns/story/rd7lv8r
RNS Hotlist: Amala, Argo, Condor, Cornish, Dekel, Greatland, Lexington, Neometals, Pipehawk, Redx, 7Digital, Tern, TomCo.
TomCo Energy (TOM), the US operating oil development group said that its wholly owned subsidiary, Greenfield Energy LLC, has entered into a Memorandum of Understanding with Vivakor Inc. covering, inter alia, the proposed development by Vivakor of an enhanced oil sands processing plant on the Tar Sands Holdings II LLC site located in the Uinta Basin, Utah, United States and the provision of professional services by Greenfield.
https://www.**********.co.uk/articles/new-article-a2f5dee
TomCo Energy inks MoU for tar sands processing plant
Vivakor will "develop and enhance" an existing facility it owns on the Tar Sands Holdings II property
TomCo Energy PLC (AIM:TOM) has signed an outline agreement with a California-based group that hopes to re-commission a tar sands processing plant on acreage in Utahâs Uinta Basin.
Vivakor (NASDAQ:VIVK) Inc will "develop and enhance" an existing facility it owns on the Tar Sands Holdings II (TSHII) property, TomCo said in a statement.
The plant would be designed to produce at least 1,000 barrels of oil per day or equivalent tonnage of asphalt cement.
TomCo owns 10% of TSHII via its Greenfield Energy subsidiary and has an exclusive option valid to the end of the year to acquire the remainder.
The memorandum of understanding (MoU) between Vivakor (NASDAQ:VIVK) and TomCoâs Greenfield arm covers professional services, including sand treatment and oil upscaling.
https://www.proactiveinvestors.co.uk/companies/news/976369/tomco-energy-inks-mou-for-tar-sands-processing-plant-976369.html
Given the current global situation, might Tomco take the opportunity to drill additional in-situ wells as an 'easy' source of extra revenue, given the sky high oil price and demand?
First things first though, time for the update on progress on all fronts.
Quadrise Fuels International's new Chairman Andy Morrison presents his experience and plans for the firm to Proactive London.
Beginning his career at Shell after studying chemical engineering and fuel technology, Morrison is hoping this experience and latterly with other AIM-listed businesses will help in the new role.
He maps out his plans for the next six months for Quadrise and why transition fuels are so important.
https://www.proactiveinvestors.co.uk/companies/news/974550/quadrise-fuels-international-s-new-ned-andy-morrison-presents-his-experience-and-plans-for-the-firm-974550.html
More coverage on Tomco by Zac Mir yesterday. Looks like a break upwards is coming ;)
https://www.**********.co.uk/articles/traders-cafe-with-zak-mir-weekend-bulletin-board-heroes-february-20-762cb47
Petroteq Announces Closing of Equity Subscription
February 12, 2022 7:45pm EST
SHERMAN OAKS, CA / ACCESSWIRE / February 12, 2022 /
Petroteq Energy Inc. ("Petroteq" or the "Company") (TSXV:PQE)(OTC PINK:PQEFF)(FSE:PQCF), an oil ?company focused on the development and implementation of its proprietary oil-?extraction and remediation technologies, announces the closing of the US$750,000 subscription for 6,250,000 units of Petroteq at a price of US$0.12 per unit originally announced by the Company on August 4, 2021. Each unit consists of (i) one common share of the Company, and (ii) one (1) transferable share purchase warrant, with each warrant entitling the holder thereof to acquire one additional common share of the Company at a price of US$0.128 per share for twenty-four (24) months. The net proceeds will be used by Petroteq on its extraction technology in Asphalt Ridge, Utah and for working capital. The warrant was originally announced to be exercisable at US$0.12 but was amended to US$0.128.
The units, the underlying common shares and warrants, and the common shares issuable upon exercise of the warrants have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws. The units were offered and sold in reliance on an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws, and were issued as "restricted securities" (as defined in Rule 144 under the U.S. Securities Act). In addition, the securities issuable in the equity financing are subject to a Canadian four-month hold period.
About Petroteq Energy Inc.
Petroteq is a clean technology company focused on the development, implementation and licensing of a patented, environmentally safe and sustainable technology for the extraction and reclamation of heavy oil and bitumen from oil sands and mineable oil deposits. The versatile technology can be applied to both water-wet deposits and oil-wet deposits - outputting high-quality oil and clean sand.
Petroteq believes that its technology can produce a relatively sweet heavy crude oil from deposits of oil sands at Asphalt Ridge without requiring the use of water, and therefore without generating wastewater which would otherwise require the use of other treatment or disposal facilities which could be harmful to the environment. Petroteq's process is intended to be a more environmentally friendly extraction technology that leaves clean residual sand that can be sold or returned to the environment, without the use of tailings ponds or further remediation.
For more information, visit www.Petroteq.energy.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION
Petroteq Energy Inc.
Vladimir Podlipskiy
Interim Chief Execu
https://polaris.brighterir.com/public/tomco/news/json_news/story/xpen23r
TomCo Energy receives approval to drill exploration wells
Thu, 10th Feb 2022 14:40
(Alliance News) - TomCo Energy PLC shares rose on Thursday as it said that its subsidiary received approval to start drilling exploration wells at the Tar Sands Holdings II LL site in Utah and expects drilling to start in March.
Shares were up 3.1% at 0.63 pence each on Thursday afternoon in London.
The London-based energy company with operations in the US said permits required from the Utah Division of Oil, Gas & Mining to drill three exploration wells on the Tar Sands Holdings II LL site were received by AC Oil LLC.
AC Oil LLC is a wholly-owned subsidiary of Greenfield Energy LLC. Moreover, Greenfield is a subsidiary of TomCo and owns a 10% membership interest in the TSHII site. The subsidiary also has an exclusive option to acquire the remaining 90% of membership interests for an additional cash consideration up to December 31.
The drilling of the exploration wheel is scheduled for early March, the company noted.
Additionally, TSHII entered into a 10-year lease with an unnamed tenant, starting March 1.
The lease will cover a refinery on the TSHII site that is not required for Greenfield's plans and was previously scheduled to be demolished should Greenfield acquire all of TSHII.
The tenant plans to develop a refinery on the site, producing 10,000 barrels of oil per day, TomCo continued.
Under the terms of the lease, it has two years in which it can do so without potentially forfeiting the lease.
Furthermore, the lease will require the tenant to pay rent of USD10,000 per month, with a further USD3 production rent on every barrel of produced hydrocarbons.
In late January, TomCo raised GBP1.3 million gross in a share placement to fund Greenfield's operations at the site.
"We continue to make significant progress with our plans for the TSHII site and we look forward to the drilling of the exploration wells in March, utilising some of the proceeds from our recently completed placing," Chief Executive John Potter commented.
He added: "In parallel, we are progressing the previously announced due diligence exercise being undertaken by a financing party currently interested in backing our plans for Greenfield, together with other matters in relation to the TSHII site. We look forward to providing further updates in due course."
By Abby Amoakuh; abbyamoakuh@alliancenews.com
https://www.lse.co.uk/news/TOM/tomco-energy-receives-approval-to-drill-exploration-wells-tft11ptxry71uyz.html
Excellent post by Stuart Little on ADVFN - certainly not here for the short term
Worth reminding who is heading the financial side of the business now, creating the financial model for the funders. Probably not aligned himself with Tomco purely for the NED wages, he knows the bigger picture better than anyone.
Zac has over 22 yearsâ experience in oil & gas and finance, working for companies such as BP, Chevron, DB Petroleum, Merrill Lynch and ING Barings, where he undertook finance or finance related roles.
Zacâs extensive oil & gas financial and technical experience has meant that he is a leading expert in the valuation of E&P assets at all stages of the E&P cycle, from exploration, appraisal and development, though to producing and late stage development/redevelopment, as well as decommissioning.
In addition to Zacâs technical approach to economic modelling, his finance experience allows him to develop âwell to wheelâ economic models often demanded by audit and structured credit providers, where it is often necessary to meet stringent technical and financial demands, especially where complex financial structures define a companyâs access to the economic benefits of ownership, whether impose by host governments or complex JV arrangements, or where strict debt covenants need to be assessed.
More recently, Zac was the CFO for Dubai Worldâs oil & gas business (DB Petroleum), with responsibility for risk management, valuation and authoring of investment proposals. During this time, Zac valued more than 152 transactions with a combined transaction value of in excess of $63bn.
Zac has an Honours Degree in Chemical Engineering from Wales and a PhD in Chemical Engineering from Bath University.
He is a member of the Society of Petroleum Engineers, Institute of Chemical Engineers, American Association of Petroleum Geologists, the Association of International Petroleum Negotiators.
Given his experience and academic background, Zacâs has focused on the technical and economic performance of debt and equity investments, and valuation and assement of company, asset and project level operational and fiscal risks, across a range of segments, from upstream development, redevelopment and end of life management, to process change implementation, baseline assessment of operating facilities.
Zac Specialises in: Economics, Due Diligence, Transaction Management, Finance, Equity, Debt, Reserves Based Lending, Valuation, M&A and Audit.
Taking out Tomco would be very hard to do when Valkor own 29 percent once the deal goes through very soon. Assuming Valkor stay loyal which is in their interests to do, Tomco will be fine as production of the 5000 bopd isnt that far away,2023
Zac back on the case again, weekly close above 0.67 then off to 0.95 ;)
hxxps://www.******.co.uk/articles/traders-cafe-with-zak-mir-bulletin-board-heroes-february-10-aceca55
***** v*o*x*m*a*r*k*e*t*s without the *s
Have Tomco / Valkor now allocated an established PR person as more tweets in the last month than I can remember. Certainly going to be busy ;)
TomCo Energy PLC
@TomcoEnergyPLC
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1h
Read our latest update on certain recent developments in connection with the Company's plans for a potential commercial scale project on the mining properties comprising the Tar Sands Holdings II LLC site located in the Uinta Basin, Utah, United States.
hxxps://polaris.brighterir.com/public/tomco/news/rns/story/xpen23r
TomCo Energy expects Utah wells to kick off in March
"We continue to make significant progress with our plans for the TSHII site and we look forward to the drilling of the exploration wells in March," John Potter said.
2022-02-10-08-23-55-ac9bfed737ea88a7d2e80203e5f13be8
TomCo Energy PLC (AIM:TOM) told investors that drilling is now slated to start in March for a programme of three wells designed to unlock a âself-fundingâ resource for its efforts in Utah.
Via subsidiary Greenfield Energy, the company has been granted permits to drill by the Utah Division of Oil, Gas and Mining at the Tar Sands Holdings II LLC (TSHII) site which is host to, among other things, the companyâs planned heavy oil processing plant.
Conventional oil wells will in the meantime be drilled by Greenfield subsidiary AC Oil LLC next month, as the company aims to opportunistically generate revenues from conventional hydrocarbons in the area.
"We continue to make significant progress with our plans for the TSHII site and we look forward to the drilling of the exploration wells in March, utilising some of the proceeds from our recently completed placing,â said TomCo chief executive John Potter.
âIn parallel, we are progressing the previously announced due diligence exercise being undertaken by a financing party currently interested in backing our plans for Greenfield, together with other matters in relation to the TSHII site.â
TomCo also noted that TSHII, presently 10% owned by Greenfield, has separately agreed to lease out an existing refinery facility on the TSHII property which was previously earmarked for demolition as the Greenfield project advances.
The new tenant intends to develop a 10,000 barrels of oil per day refinery on the site and will have two years to do so before potentially forfeiting the lease.
TSHII is being paid US$10,000 per month in rent along with a US$3 per barrel production rent per barrel of produced hydrocarbons.
Greenfield acquired 10% of TSHII in an option deal which gave it the right to acquire 100% in the future.
https://www.proactiveinvestors.co.uk/companies/news/973732/tomco-energy-expects-utah-wells-to-kick-off-in-march-973732.html