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Valkor certainly will not want the project delayed unnecessarily whilst Tomco raises funds so I would not be surprised if Valkor has 'assisted' this in some way. After all, it is in their interests as well as a strong Tomco is an even stronger Greenfield.
'up to 4000 bopd' sounds good to me ;)
Should fill up the coffers in no time and help fund the 10 000 bopd plant. Very sensible economic planning if you ask me with one plant helping funding the next one and so on. Licence to print money if everything goes to plan on the back of a sound business model.
Chesapeake Energy just filed for bankruptcy as will many of the shale oil companies.
Oil shale the way to go, economic and environmentally friendly with Valkor, Tomco and Petroteq leading the way. Huge gap in the market developing for Tomco to be a big part of it.
https://petroteq.energy/news/press-releases/detail/350/petroteq-announces-amendment-to-securities-and-shares-for
PETROTEQ ANNOUNCES AMENDMENT TO SECURITIES AND SHARES FOR DEBT
Just wondered why if you had c£1.5 million in the bank from cash and warrants and a share of 500 bopd in the foreseeable future, you would want to dilute further at these levels when the company has just said there is no need to do so?
Fundamental facts have not changed, costs covered till end of year by which time Tomco will have a regular share of earnings from the 500 bopd plant and most likely in excess of £1 million from executed warrants. That is an extremely strong position from which to negotiate additional finances so absolutely no reason why they would raise funds now imho.