Member Info for orslega

Commenting, John Potter, CEO of TomCo, said: "We are delighted with the findings of NSAI's Report. The Report serves to confirm our view that the TSHII site contains substantial economic resources, both in terms of oil and marketable sand, that we are focussed on seeking to exploit.

"Greenfield continues to progress its previously announced plans to pursue both the drilling of certain near-term oil production wells and, thereafter, the potential acquisition of the balancing 90% of the Membership Interests in TSHII and construction of its first commercial scale plant on the site, all of which remain subject to securing the requisite funding. We look forward to providing further updates in due course."

Torreagas - the old site is simply a test site. Nothing more. It has served its purpose in securing the FEED study etc Petroteq have publicly stated exactly that.

So today’s news - land swap - means that Petroteq and Valkor now have a 50/50 Joint Venture on future 5K plant(s) on Asphalt Ridge NW acreage.

Good defence to Viston bid. Makes financing much easier as oil content % double on this acreage- not forgetting that ore from this same site was used in the FEED process.

Finance in place for first 5K plant next news? Fingers crossed, regardless Viston won’t like this move. It also shows that Valkor supports Petroteq - so as largest Petroteq shareholder no tendering shares from Steve Byle . Very good.

QS - I wish it were part a cunning plan but unfortunately they have bought this TMX cease trade order on themselves. Hence the new CFO.

George Stapleton COO said in one of his last public announcements before TMX cease trade order that Nasdaq was not off the cards (much of the paperwork having been filed) but still premature. I therefore doubt that Haywood see this as one of their Viston defence tactics.

HL confirmed that zero value because TMX currently delisted. No accurate pricing. Standard HL approach.

Todays price on OTC nearly 18 cents USA, which is equivalent to nearly 23 cents Canadian . Last TMX price closed at 19.5 cents Canadian. So as of today 18% catch up on TMX when re-opened. Hopefully a substantial amount more when Haywood issue the valuation etc and then TMX reopens.

hard work this, lol

https://www. d i r e c t o r s t a l k i n t e r v i e w s .com/

https://www. ***************************/ tomco-energy-10-stake-in-tshii-base-to-accelerate-plans-on-multiple-fronts-interview/4121034161

https://www.***************************/tomco-energy-10-stake-in-tshii-base-to-accelerate-plans-on-multiple-fronts-interview/4121034161

Think they have much more important and immediate priorities right now. Their response to Viston hostile bid needs to be issued by next Tuesday, very latest. Everything hinges on it.

It will be very interesting what they say to Petroteq shareholders as everything needs to be backed up and verified (SEC rules). I am particularly interested in the independent valuation of the IP. Likely to be a very large number.

Go to Petroteq Twitter page - 20/10/2021:

“Another milestone has been achieved.

An independent third-party valuation of PQE Technology and economics is to construct a 5,000 BPD oil refining facility.

Make sure to follow @PetroteqEnergy for more corporate updates.

#pqeff $pqeff #petroteq”

We should know very soon the valuation of the intellectual property for the world first Petroteq technology. Petroteq recently announced that they had instructed independent valuation. Have no doubt this will be included in the Board response to Viston hostile bid. This response to shareholders is required under SEC regulations by next Tuesday at very latest - could come earlier.

Very interested to hear what Petroteq are going to say in their defence to the 0.74c offer. Confident that Viston offer is low ball and very opportunistic.

https://oilprice.com/Energy/Crude-Oil/Is-A-Bidding-War-About-To-Begin-For-This-Remarkable-Oil-Tech.html

I doubt it as well - they spent over $100M perfecting the technology.

The offer right now is not $200M - this is from the Offer Document- so currently it is 420 million euros; will be higher after convertible loan stock converted.

“Fully Financed Cash Offer. The Offer is not subject to a financing condition. The Offeror intends to fund the Offer from cash resources available to Viston, who has secured, on a firm, committed basis, up to EUR 420 million to fund the consideration payable for the Common Shares and to complete the transaction.”

https://www.petroteqoffer.com/

So one way of looking at it is the Patent for this ground breaking technology is worth a minimum of 420M euros- but the Petroteq Board have indicated this is too low - by not accepting the 0.74 Canadian offer. So now hostile bid.

Under SEC rules Petroteq are required to either accept (unlikely) the offer or clearly set out why the offer is too low. They notified shareholders that they are seeking independent valuation of their technology, obviously forming the backbone of the likely offer rejection.

Interesting times!

https://microcapdaily.com/petroteq-energy-inc-otcmkts-pqeff-major-move-northbound-as-oil-gas-innovator-recieves-c0-74-per-share-buyout-offer-from-viston-united-swiss-ag/

That independent valuation will be required to fend off any attempted low ball takeover - should a takeover arise the Board will have to recommend shareholders to accept or not. If they get it wrong or not act in all shareholders interest along come the lawyers.

Both articles issued today, Saturday- interesting timing. Hostile bid arriving imo

And another - Petroteq defence to a takeover, good, 0.50 euros was of no interest to 1M holders. Need to up their game.

https://www.laweekly.com/petroteq-energy-will-serve-as-the-gold-standard-for-feasible-carbon-negative-approaches-in-the-oil-and-gas-industry/

Quantumstar- you are spot on - Petroteq are the jewel in crown in all of this. Nothing happens without their technology.

Will we see a big sparkle soon - it looks like the stars are aligning.

Room for Tomco and quite a few others in Utah, including Petroteq own sites. 200 x 5K bopd sites in 5 years time, US alone Work our the DCF value of 5% royalty annually for 20 years to Petroteq on 20 plants. It's a very big figure - $ billions. Ignoring production revenue for their own plants.

Didn't peeps notice they actually increased the number of shares they wanted - from 200M to 270M - think that is a controlling interest

"In order to achieve the first objective of a simple majority, the target minimum holding for the takeover offer of 200 million shares in Petroteq Energy Inc. was increased to 270 million shares at a premium offer price of EUR 0.50 per share on July 29, 2021."

https://www.einnews.com/pr_news/547901137/increase-in-the-target-minimum-shareholding-for-the-purchase-offer-in-petroteq-energy-inc-shares-by-uppgard-konsult-ab