Interesting on QFI board16 Nov 2021 10:39
Pasted this across. Interesting
I originally suspected the third party which TOM were talking to might be Valkor, but Fadec92 convinced me that it was New Day Energy Development LLC. It looks like Valkor really are going for this in-situ production in Utah, details of Steve Byle's new company Heavy Sweet Oil LLC should be getting released soon. He is almost certainly looking at producing MSAR and bioMSAR from these wells, we could well see a commercial licence agreement signed with them before the end of the year.
https://heavysweetoil.com/
https://www.linkedin.com/in/steven-byle/
I was expecting to see an announcement from Hydrocarbon Dynamics Limited at the end of September regarding the completion of their Utah oil sands project to Valkor, but nothing appeared. But from their Q3 cash flow report which was released on 29th October, the sale did go through as planned, and the remaining $400k was paid on time.
https://www.hcdinvestor.com/irm/ShowCategory.aspx?CategoryID=8&HideTopLine=True&ArchiveLink=True&masterpage=6
Sale of Utah Project
HCD completed the sale of its interests in the Utah oil sands project for cash consideration of US$500,000 and an ongoing 2% revenue-based royalty.
The purchaser has also committed to test HCD’s technology in three wells in the project area within six months of the completion of the sale.
So as well as drilling on Tomco's site, Valkor also have to drill three wells on that site by the end of March. It's all go in Utah.