RNS out!!TomCo (AIM: TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, announces that its wholly owned subsidiary, AC Oil LLC ("AC Oil"), is party to an application made yesterday to the Utah Division of Oil, Gas and Mining for permitting to drill six holes on its lease area near Vernal, Utah.Subject, inter alia, to the relevant drill permits being granted, and sufficient financing being available, TomCo is currently intending and preparing to participate alongside its partners in potential drilling on the AC Oil lease acreage during 2025.The Company will provide a further update as this initiative develops in due course. |
Looks like some sort of order being filled |
5m & 2m+ are buys |
I think theses will be our partners they where mentioned in the August 14 RNSNo OpinionRE: AC Oil LLCToday 07:53INTEGRATED RAIL AND RESOURCES ACQUISITION CORP Have an off take agreement with shellIn Utah ,This is the company in the recent RNShttps://www.sec.gov/Archives/edgar/data/1854795/000121390024099868/ea0221548-8k425_integ.htm |
 Trio's 2.25% of Asphalt Ridge worth a lot of money..Trio Petroleum Corp"Based on this new data, we believe the economic impact of our ownership interest in the Asphalt Ridge project has the potential to quickly exceed that of our substantial assets in California.".hTTps://finance.yahoo.com/news/company-successfully-completes-first-two-120000242.html."Trio Petroleum Corp has reported an increase in the estimated net cash flow from its South Salinas project in Monterey County, California.".The Bakersfield, California-based company said in a news release that an updated reserve report calculated approximately $475 million in estimated discounted net cash flow to the company from its Probable (P2) Undeveloped Reserves of combined Phases 1-3 in the South Salinas Project."."Further the report indicates that the associated undiscounted net cash flow to the company is approximately $2.1 billion.".hTTps://www.rigzone.com/news/trio_petroleum_reports_increased_value_in_california_asset-06-sep-2024-178024-article/."Trio currently owns a 2.25 percent working interest in 960 acres at Asphalt Ridge, and under an option may acquire up to an additional 17.75 percent working interest in the same 960 acres and also a 20 percent interest in an adjacent 1,920 acres. It also has a right of first refusal to participate in an additional approximate 30,000 acres of the greater Asphalt Ridge Project on terms offered to other third parties.".hTTps://www.rigzone.com/news/trio_petroleum_reports_increased_value_in_california_asset-06-sep-2024-178024-article/. |
There's a lot of information I posted on lse. Well worth a read |
Valkor are in the process of installing larger heaters. They are looking to achieve 100bopd from each well.Trio update this week |
6 wells, 40 bopd per well, 240 bopd, 50/50 jv 120 bopd to tom = @$3m per yr income for tom.
Market cap under £2m. If they rns the well applications market cap will surge imo.
potential is for over 100 wells on the lease. |
Bit of profit taking as expected. Then we will fly |
I have the share price moving up in large(ish) bounds 11.1% followed by 22.2% followed by 44.4% is the next one going to be 88.8%? I hope this post isn’t the Vauch kiss of death! |
Seems to tie in with the RNS dated 14 August |
Entry into Non-Binding Letter of Intent with Shell As previously disclosed, on August 12, 2024, the Company entered into an Agreement and Plan of Merger (as amended by that certain Amendment to and Waiver of Agreement and Plan of Merger, dated November 8, 2024, the "Merger Agreement") by and among (i) the Company, (ii) Uinta Infrastructure Group Corp., a Delaware corporation ("Holdings"), (iii) Uinta Lower Holdings, Inc., a Delaware corporation and wholly owned subsidiary of Holdings ("Lower Holdings"), (iv) Uinta Merger Co., a Delaware corporation and wholly owned subsidiary of Holdings ("SPAC Merger Sub"), (v) Uinta Merger LLC, a Delaware limited liability company and wholly owned subsidiary of Lower Holdings ("Company Merger Sub," and together with SPAC Merger Sub, the "Merger Subs;" the Merger Subs, SPAC, Lower Holdings and Holdings are collectively referred to herein as the "SPAC Parties"), (vi) Tar Sands Holdings II, LLC, a Utah limited liability company ("TSII"), and (vii) Endeavor Capital Group, LLC (the "Company Member Representative") (the Merger Agreement and the transaction contemplated thereby, the "Business Combination"). As previously disclosed, on November 6, 2024, the Company entered into a non-binding letter of intent for a crude supply and offtake agreement (the "Offtake Agreement") with Shell Trading (US) Company ("STUSCO"), the commencement of which is conditioned upon, among other things, the closing of the Business Combination. Under this prospective arrangement, STUSCO would supply volumes of crude feedstock to the Company's refining and terminating facility in Vernal, Utah (the "Facility") and purchase certain crude oil products produced from such feedstock. The initial term (the "Initial Term") of the Offtake Agreement is 10 years from the date upon which the Facility commences operation (the "In-Service Date"), which In-Service Date is expected to be December 31, 2028, and may be extended by mutual agreement of the parties to the Offtake Agreement. STUSCO will have a one-time option (the "Extension Option") to extend the Initial Term of the Offtake Agreement by five years ("Option Term"). In the event STUSCO elects to exercise its Extension Option, the Offtake Agreement will be automatically renewed from the end of the Option Term on one-year terms (each, a "Renewal Term") unless cancelled in writing, by either party, at least 180 days in advance of the end of the Option Term or any Renewal Term, as applicable. The Initial Term, the Option Term, and the Renewal Term(s), as applicable, are collectively referred to as (the "Term"). |
No OpinionRE: AC Oil LLCToday 07:53INTEGRATED RAIL AND RESOURCES ACQUISITION CORP Have an off take agreement with shellIn Utah ,This is the company in the recent RNShttps://www.sec.gov/Archives/edgar/data/1854795/000121390024099868/ea0221548-8k425_integ.htm |
I see the gamblers thread has resurrected the 2023 idea of drilling for oil.
Of course they said in 2023 that it would be drilling "their" land - except the test drill wasn't.
Now they don't even have "their" land any more , but are relying on their rented land - which
proves that they never needed to waste years and millions trying to buy the overpriced land
that they never managed more than a token payment for - just like we said from the start.
So the gamblers are conveniently forgetting the whole horrendous episode....
But the problem is the funding that was extracted for the failed venture + the failed Petroteq venture
have both bled that route dry and diluted the shares so far they cannot really try that again.
They might find someone gullible enough but the pattern has been to move to alternative funding.
So even if they get some licenses they don't have enough money. Yes they raised some - but a third to a half of that was spent before they got it. Then they had to find the money to do the final 2024 accounts add in directors remuneration for at least a year they are not going to sacrifice that and they need more funds to do anything other than the status quo.
Don't hold your breath. That includes you gamblers. |
Torreaguas all over this. |
Type CurrentStatus Current Field Name FieldType Surface Location Qtr Qtr Section Township Range SurfaceOwner MineralLease ConfidentialWell?11/27/2024 UINTAH AC Oil, LLC AC-4A 4304757716 DRILL Oil Well New Permit UNDESIGNATED EXTENSION 2184 FSL 2248 FEL NWSE 23 4S 20E Fee Fee Y11/27/2024 UINTAH AC Oil, LLC AC-4B 4304757717 DRILL Oil Well New Permit UNDESIGNATED EXTENSION 2171 FSL 2233 FEL NWSE 23 4S 20E Fee Fee Y11/27/2024 UINTAH AC Oil, LLC AC-4C 4304757718 DRILL Oil Well New Permit UNDESIGNATED EXTENSION 2158 FSL 2218 FEL NWSE 23 4S 20E Fee Fee Y11/27/2024 UINTAH AC Oil, LLC AC-4E 4304757719 DRILL Oil Well New Permit UNDESIGNATED EXTENSION 2133 FSL 2187 FEL NWSE 23 4S 20E Fee Fee Y11/27/2024 UINTAH AC Oil, LLC AC-4F 4304757720 DRILL Oil Well New Permit UNDESIGNATED EXTENSION 2120 FSL 2172 FEL NWSE 23 4S 20E Fee Fee Y11/27/2024 UINTAH AC Oil, LLC AC-4G 4304757721 DRILL Oil Well New Permit UNDESIGNATED EXTENSION 2107 FSL 2157 FEL |
On the page in the search field set Date Received to EQUALS and put in the date as 11/27/2024 then hit the search button and you'll see the six AC Oil permits to drill wells..hTTps://oilgas.ogm.utah.gov/oilgasweb/live-data-search/lds-well/well-apd-rcvd-lu.xhtml. |
Sounds good. What do you thing Vauch? |
Nice to see Heavy Sweet Oil lobbying for AC Oil. As I say, peas in a pod!."AC Oil & Gas, LLC was represented by these lobbyists:".hTTps://fminus.spacious.site/clients/ac-oil-gas-llc/.. |
Tomco, Valkor and Trio are like peas in a pod..From Tomco."the Company also intends to pursue the potential drilling of production wells in in situ oil sands on the Lease Area as a means of generating revenue and cashflow for the Group"."there is a potential opportunity for the Company to participate and secure a working interest in one or more of the wells planned to be drilled in respect of Valkor's Asphalt Ridge Project and/or to invest for a minority stake in the project and the Board will now take forward discussions with Valkor about the Company's potential involvement".Now AC are looking at drilling their own wells I'd say it will be a JV with Valkor and possibly Trio funding. |
JV between Tomco and Valkor/Lafayette looks like high possibility now. Valkor do the groundwork, both companies share the costs and profits. |
6 drilling permits bet valkor are involved, should get an RNS soon |
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