RE: 8,632,909 Buy20 Feb 2024 11:46
Not to forget this agreement
Vivakor (NASDAQ:VIVK) Inc told investors it has signed a lease with Tar Sands Holdings II (TSHII) and an agreement with Greenfield Energy, which, together, are expected to provide it with multiple years of rich oil sands supply, along with access to world-class operational services.
The South Salt Lake City, Utah-based company said the multi-year lease allows it up to 2,000 tons per day of oil sand material, which is guaranteed by TSHII to be at a minimum of 10% hydrocarbon by weight, that is expected to produce up to 200 tons of asphalt cement per day when processed through four of Vivakor (NASDAQ:VIVK)'s patented Remediation Processing Centers (RPCs).
"Locking in a reliable supply of rich, raw oil sands was an important step in preparation to execute long-term sales contracts and prepare for the continual production and sale of asphalt at our Vernal, Utah facility," CEO Matt Nicosia said in a statement.