RE: TOMCO top up10 Mar 2022 16:36
From Tomco website
PRINCIPLE ONE – BUSINESS MODEL AND STRATEGY
TomCo is an oil shale exploration and development company focused on using innovative technology to unlock hydrocarbon resources, initially in Utah, USA.
TomCo consists of three subsidiary companies: The Oil Mining Company Inc. (100%), TurboShale Inc. (100%) and Greenfield Energy LLC (100%).
Through the Oil Mining Company, TomCo holds nine separate Mineral Leases in the Uinta Basin of Utah and together they cover a total land holding of 15,488 acres. They are underlain by the Green River Shale Formation, which is the largest known oil shale deposit in the world.
Through TurboShale and Greenfield Energy the Company has access to significant technology for the extraction of oil & gas from oil shale which it is seeking to utilise to commercialise its current oil shale assets.
The Company believes that the RF technology, held through TurboShale will bene?t from being economically attractive, carrying signi?cant lower costs than other methods of retorting and will be environmentally benign. The Company believes this will prove to be a disruptive technology and one with the potential to unlock TomCo’s oil shale assets.
In December 2019 TomCo announced a project in conjunction with the global EPCI company, Valkor LLC, to develop a scalable modular production plant that could be used to extract oil from the sands cost effectively. Tomco announced a formal JV with Valkor on 19 June 2020, creating Greenfield Energy, to take this project to the next stage and establish an initial production facility at Petroteq’s existing oil sands plant.