"The intention is to undertake testing during 2020 at the Petroteq Oil Sand Plant ("POSP") located at the Asphalt Ridge Facility in Utah, USA, which is owned and managed by Greenfield."
Since when did Greenfield own the Asphalt Ridge Facility? They don't! It is owned by Petroteq - Greenfield are the currently the operators. Nomads clearly don't so their job these days, lol
Tully is probably thinking of where Petroteq is listed ie TMX in Canada
*trials
Tully, Asphalt Ridge trails are taking place in Utah, USA.
But I get your drift, lol
the simply analysis here is that if the current Ashalt Ridge trials succeed (very likely imo) then it is boom time for all involved. Petroteq share price will rocket. If the trials fail it will probably mean no further involvement with Greenfield or Tomco or Petroteq.
He bought 3M PQE per SEC filings last week.
COO PQE RNS should be today US time.
The PQE CEO also recently spent £600K buying 15M shares - see here
https://ceo.ca/api/sedi?insider=&symbol=PQE&date=&transaction=&amount=&undefined[company_symbol]=PQE
All good to the JV cause.
PQE still on the up : )
Tomco soon
https://money.tmx.com/en/quote/PQE
I see Petroteq (TOM/Valkor partner) on the move yesterday - up 45% at point - Valkor on site, trials beginning : )
Tomco/QFI shareholders taking a slice before boom time, maybe. But also many are expect Petroteq update this coming week may influencing - volume up substantially to recent weeks.
PQE RNS couple of weeks ago, so update imminent:
"Petroteq’s management is looking forward to sharing further details on the recent announcements on the relationship with Valkor and TomCo in the coming days."
PQE still pretty at much at all time low. Plenty of catch up in play. Very good all round.
4/12/2019 RNS from TOM confirms:
"Under the MoU, the parties shall seek to agree the scope of a study, to be undertaken by a suitably qualified third party and managed by Valkor, on at least one of the Leases, to determine the location of any oil/tar sands, the potential quantum available to be recovered together with a plan for the mining and processing of any such oil/tar sands. Subject to the findings of the study, Valkor shall also undertake an engineering study to determine the location for a proposed facility, preliminary plant design and economic analysis for the development of a 3,000 barrels of oil per day system from oil/tar sands on the Group's leases."
If the current trials are successful the next stage is that Greenfield will build their own plant with licensing from Petroteq, to exploit Tomco acreage. Petroteq have a huge acreage/resource still to exploit. Valkor will probably continue to manage all Utah plants going forward - they have upgraded the engineering at Asphalt Ridge.
The cost per plant will be substantial $20M+. Funds will be need to be raised at that point.
I am a shareholder in PQE - was a shareholder in QFI years back, fed up waiting, lol - will come back in here soon as the testing continues at PQE plant in Utah.
PQE are technology based company - having designed, tested and patented the technology their job is essentially done - probably $60M has been invested to get to this point ($100Ms has been spent by other companies who have failed to extract from yje oil sands) - PQE should reap multi-millions in Licensing and royalty payments. Certainly MSAR is another opportunity in the making, near term. Valkor are effectively the engineering arm - they are instrumental in the next few weeks.
Anybody interested in how the tech works check this video from the CEO - fascinating:
https://www.youtube.com/watch?v=5nwywpYEEu0
Petroteq is listed in Canada and US - but you buy in the UK via Hargraeves Lansdown and other brokers; they are not far off their all time low so I am expecting serious returns from here. But obviously do your own research.
All Tomco investors/traders should take note that none of the oilsands plans for the Greenfield JV can happen without Petroteq technology.
It is a world first in clean oil sand extraction and is going to make many people very rich .
I have no hesitation in recommending those to take some profit here and invest in Petroteq - they will be announcing the Tomco deal properly (licensing deal) anyday now that the placing monies are sorted. Watch what happens to the share price - now it is pretty much at all time lows.
For those who have no idea about the tech behind the process, spend a few minutes watching this video - it explains the process and the huge opportunity.
https://www.youtube.com/watch?v=5nwywpYEEu0
Petroteq - you guys maybe interested in an article published in the New York Times a little while back - it's about Petroteq, the opportunity, their tech and the start of moving the plan forward. Good insight into the $100s millions spent - unsuccessfully - but now that has all changed with Petroteq tech.
"Utah has the nation’s largest deposits of raw oil sand, or bitumen — enough to produce as much as 15 billion barrels of oil and potentially more, according to the Utah Geological Survey."
Even at todays's low prices that is $1 trillion in worth of oil just sitting there waiting to be mined and put thru the process....Tomco will certainly need more than one 10,000 bopd plant. Fingers crossed for the next 3 months with the upgrades at the Utah plant all hopefully going well, which will be the trigger for major expansion plans in Utah (and also worldwide).
https://www.nytimes.com/2018/08/21/business/energy-environment/oil-sands-utah.html