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Petroteq’s bet on Zero-Waste Oil Sand Production amid rising demand for share buys
By FORTUNE INDIA EXCHANGE, Jun 22, 2021
Petroteq’s bet on Zero-Waste Oil Sand Production amid rising demand for share buys
Petroteq hopes it can disrupt the oil and gas sector by developing oil sand technologies that are environment friendly after aggressive demands from European brokers. It’s a bold disruption happening in Utah.
The advent of green and sand based oil production is about to happen finally after being talked about for decades. With oil prices fluctuating consistently and impacting global economies, in a sudden turn of events; oil brokers focusing on Zero Waste oil sand production technologies were driven to Bundesanzeiger, the official division of department of Justice and Consumer in Germany after seeing aggressive demands to buy shares in Petroteq.
Overcoming the previous activism and resistance, Petroteq Energy; a Canadian startup operating primarily out of Utah, is disrupting the oil and gas sector through its patent pending CORT technology.
OIl and gas sector has always struggled to shrug off its image as the prime villain for causing extreme damage to nature and environment. New oil extraction orders have often caused political storms and seen intense protests from environmental activists. These haven’t impressed the wall street and oil companies much. And little wonder, these companies and their boards have always remained the targets of environmental and nature activists.
As it stands; Petroteq is a clean technology company focused on the development and implementation of a new proprietary oil extraction and remediation technologies. The Company has an environmentally safe and sustainable technology for the extraction and reclamation of heavy oil and bitumen from oil sands, oil shale deposits and shallow oil deposits.
As it stands, this sector long needed a disruption in its production technologies to ward off these protests and activism. As it stands; CORT by Petroteq eliminates waste tailing ponds, emissions, use of water and removes 99% of hydrocarbons from oil sands. The economic potential of CORT is enormous but what truly excites the oil and gas companies is the innovation Petroteq has brought to the industry. CORT is helping oil and gas companies achieve something that seemed implausible yet impossible a few years ago, Says, Alex Blyumkin; a oil and gas industry veteran and CEO of Petroteq.
For Petroteq, the hazardous challenges in O&G industry are not a secret. Oil and Gas companies, behemoths and smaller ones alike; have always struggled with ways that can prevent environmental damages during production. This sector has always faced uphill battles per se water wastage, wildlife protection, increased emissions etc.
After reviewing all available information, the Petroteqs's management notified its board of directors which directed management to contact the Uppgard Konsult AB, Sweden, the party identified in Bund
TomCo Energy interims highlight progress in Utah joint venture
The Greenfield Energy venture made strides during the period, establishing production and more recently starting crude shipments
TomCo Energy PLC (LON:TOM) used its interim results to highlight progress made in Utah despite the challenges of the Coronavirus pandemic.
The company’s Greenfield Energy joint venture, with partner Valkor, established production from its pilot project at Petroteq’s oil sands plant (POSP) at Asphalt Ridge.
Results from POSP and encouraging findings from a recent draft Front-End Engineering and Design (FEED) study support the company’s belief that the pilot could be repeated at commercial scale, in a purpose-built facility.
It has, indeed, advanced its plans as it's presently investigating the possibility of acquiring up to a 100% interest in a large oil sands site in Utah. The site is believed to be suitable for the construction of a potential initial commercial-scale plant.
At the same time, the Greenfield JV company is in the early stages of exploring possible financing opportunities for the project.
During the first half, ended March 31, TomCo raised some £3.5mln of funding through the issue of new shares priced at 0.45p.
Earlier this month, the company noted that it had made its first shipment of crude and that it was exploring transactions to sell-on sand processed at the POSP.
No revenues were reported for the first half of 2021. The company reported a £71.36mln loss for the six months.
The company said it had around £1.39mln of cash reserves as of June 21.
https://www.proactiveinvestors.co.uk/companies/news/952927/tomco-energy-interims-highlight-progress-in-utah-joint-venture-952927.html
From Quadrise
Great update from @TomcoEnergyPLC today on Greenfield, confirming that a sample of produced oil will be shipped to us before the end of June so we can assess the suitability of the heavy sweet oil produced by the POSP for our emulsion process ?? londonstockexchange.com/news-article/T… #QFI
Not really as ore soon to be processed from new site will produce the flow rates required if you read the RNS
Remember this is Valkor and Greenfield with the business plan, not just Tomco. They will be behind the long term business plan and it will be thought out every step of the way. Tomco will ride on the back of this hence financing etc will not be Tomco concern. The big boys are running the show now with an impressive track record of successful delivery. Sit back and enjoy the ride
Operate current plant to pay for new site. Makes perfect sense to me ??
Zac Mir likes Tomco again, first 0.9p then 1.2p - 1.3p ;)
https://www.**********.co.uk/articles/traders-cafe-with-zak-mir-bulletin-board-heroes-june-7-7b113a8
Where is that quote from if you do not mind me asking
So who are the major players in the company with existing stakes of around 50 million shares (apart from SB) who could launch a takeover bid
Have not got the figures to hand but what percentage of the company is the number of shares (200 million I think) the bidder is after
May be this is the start of the PR blitz we have been promised.
Onwards and upwards ;)
Great new website and note all news articles show 21/05/21 as there date but in fact when you enter the article, the dates are correct as you would expect.
Well the Russian asset certainly provides a project with title and real oil and gas potential ;)
Therefore, we are awaiting heads to be banged together around the table and for the finer details to be ironed out.
Buying back the lost shares in the open market will be part of the solution so this may be the first sign of progress and an agreement.
How the field is to be explored should not be Petrel’s problem but a show of faith by both parties may include a proof of funds with the asset being transferred into Petrel in return for control of the board.
Come on gents, we have the major parts in play now sort out the rest so that we can move forward. Onwards and upwards ;)
Time to break that falling wedge and move up to the 5p-6p region or even the 9p mark.
https://www.share-talk.com/share-talk-bulletin-board-heroes-monday-8th-march-2021/#gs.vkgyif
https://polaris.brighterir.com/public/quadrise/news/rns_widget/story/x2jlynw
/ Key last paragraphRegarding the origin of the funds to carry out the acquisition, whose agreement has already been communicated to the Bank of Portugal, the Libyan businessman assured to the newspaper that he has the liquidity to finance the operation, namely through companies listed in London and Frankfurt.
Some nice lumpy delayed trades from Friday gone through this morning.
Taking control of the test plant and using it to help fund Greenfields new plant is a solid economic move if that is the master plan.
Speakers will include:
HE Ihsan Abduljabbar Ismaael Al-Saade, Minister of Oil, Federal Government of Iraq
HE Nafaa Abdulsada Ali Al-Hmidawi, Senior Deputy Minister, Ministry of Electricity, Federal Government of Iraq
Matthew M. Zais, PhD Principal Deputy Assistant Secretary, Office of International Affairs, US Department of Energy
HE Matthew H. Tueller, U.S. Ambassador to Iraq, United States Embassy, Iraq
Husam Hussein Weli, Director General, South Re?neries Ministry of Oil, Federal Government of Iraq
Dr Khalid Al-Yaqoobi, Director General, President of Iraq Office, Iraq Presidency, Federal Government of Iraq
Egor Zubarev, Managing Director, LUKOIL Mid-East Limited
Zaid Elyaseri, Head of Country, BP Iraq
For further information, visit hxxps://www.cwciraqpetroleum.com/
To access the full programme, please click here.