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Thanks to bungee trader on ADVFN
RNS'd on 16/11/20 Vauch
The Petroteq Licence
In order to provide Greenfield with access to Petroteq's Oil Sands Technology and to enable it to be utilised in future commercial scale oil sands plants to be developed by Greenfield, Greenfield has entered into a new non-exclusive multi-site licence with Petroteq. The Petroteq Licence has been granted in consideration for the funding that Greenfield has provided to date in respect of the upgrades to the POSP, being US$1.5 million, and a further US$0.5 million to be invested by Greenfield into the POSP.
This is an important step for Greenfield as it allows Greenfield to use Petroteq's Oil Sands Technology, which includes Petroteq's processes for the recovery of oil from oil sands, patents, other intellectual property and know-how, in any future oil sands plants to be built by Greenfield in the United States. The Petroteq Licence also clarifies the ownership of any IP developed as a result of the POSP upgrade and associated trials or otherwise developed by Greenfield in the future. Any such IP will be the property of Petroteq and pursuant to the Licence, Petroteq will grant Greenfield the ability to utilise such IP, together with any additional IP developed by Petroteq, in accordance with the terms of the Licence.
For any future oil sands plants built by Greenfield utilising the Petroteq Licence, a 5% royalty of net revenues received from oil products produced from oil sand resources at any oil sands plants will be payable by Greenfield to Petroteq.
Thanks to pooler1 on ADVFN
Not sure if this was posted at the time but I expect similar articles were but worth reading again.
https://www.nasdaq.com/articles/breakthrough-green-tech-could-transform-the-oil-industry
Looks like there priorities have changed "Exxon has prioritized key projects in Guyana, the U.S. Permian Basin as well as oil-refining and chemical build-outs since a strategic reboot in 2020"
Exxon seeks sale of Canadian shale assets to focus on oilsands
Will start marketing XTO Energy Canada in the Montney and Duvernay shale formations of Alberta
Author of the article:Bloomberg News
Robert Tuttle
Publishing date:Jan 13, 2022 • January 13, 2022
Exxon Mobil Corp. is looking to sell its Canadian shale assets to focus on Alberta’s oilsands.
Exxon and its majority-owned Imperial Oil Ltd. unit will start marketing XTO Energy Canada, which produces 9,000 barrels a day of crude and 140 million cubic feet a day of natural gas in the Montney and Duvernay shale formations of Alberta and other areas, Imperial said in a statement Wednesday.
Exxon has prioritized key projects in Guyana, the U.S. Permian Basin as well as oil-refining and chemical build-outs since a strategic reboot in 2020, when the company posted its first annual loss in four decades. Imperial is a major producer in Alberta’s oilsands, which hold the world’s third-largest oil reserves.
Exxon and Imperial each own 50 per cent of XTO. A definitive decision on the sale hasn’t been made and XTO’s operations continue as normal throughout the process, Imperial said.
financialpost.com/commodities/energy/oil-gas/exxon-seeks-sale-of-canadian-shale-assets-to-focus-on-oil-sands?r
Our #CEO Jason Miles speaks to ************** on the results of the latest bioMSAR™ testing at @Aquafuel, the recent #appointment of Andy Morrison as Non-Executive #Chairman, and provides an update on project progress with MSC, Utah and Morocco. #QFI
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The moment the finance is announced and Valkor take their 29% stake in Tomco is the moment that Tomco have the added insurance against a possible take out. Tomco and Valkor in for the long end game imho ;)
https://twitter.com/PetroteqI/status/1484851400551112708?s=20
Quadrise very excited about 2022 - Proactive interview 06/01/21
https://www.youtube.com/watch?v=o5PCT2bn2dU
'Tomco funding which seems to be progressing well so far'
'working quite heavily now together with Valkor & Tomco to see what we can do there'
'the opportunities there seem to be developing very, very quickly which is great and each opportunity is about 5 or 10 thousand barrels per day'
All sounds good and on track to me ;)