Tomco Energy Share Discussion Threads

[rmart] 27/5/2021 08:18

This is what you get when the bod hold no shares, they have no desire to move the sp, we need a large holder on the bod as a NED to shake up these hangers on.

If they held the rns would be much more detailed.

[vauch] 27/5/2021 08:18

Well it at lease allows us to accumulate larger holdings.

[rmart] 27/5/2021 08:13

Excellent, more detail again from Petroteq, Tomco bod, hang your heads in shame you useless fekkers, only JP doing any work at Tomco.

Onwards and upwards despite the bod.

[busamitch] 27/5/2021 08:11

"SHERMAN OAKS, CA / ACCESSWIRE / May 27, 2021 / Petroteq Energy Inc. ("Petroteq" or the "Company") (TSXV:PQE)(OTC PINK:PQEFF)(FSE:PQCF), an integrated oil ‎company focused on the development and implementation of its proprietary oil-‎extraction ‎technologies, is pleased to announce that processing operations at its oil sands plant at Asphalt Ridge (the "POSP") has been restarted after a suspension of operations following receipt on 14 May 2021 of a Cessation Order ("CO") from Utah's Department of Oil, Gas and Mining ("DOGM").

One concern articulated in the CO dealt with the processing of offsite oil sands ore, which had not been specifically addressed in the Company's existing Notice of Intent ("NOI") filed with the DOGM. Following a conference with the DOGM on 21 May 2021, Petroteq received notice from DOGM on 25 May 2021 that DOGM was modifying the CO such that operations could immediately recommence at the site. The modified CO allows for processing and testing operations at the POSP to take place until 30 June 2021, utilizing both local and offsite oil sands ore. Operation of the POSP after that date will be subject to Petroteq submitting an updated NOI before 1 July 2021, satisfactory to DOGM, covering sources of ore to be processed, mineral processing methods and facilities, management and handling of clean sand tailings, and a mine reclamation plan.

The POSP was able to integrate a trial solids processing unit into the process stream during the time that processing operations were on hold, and that unit is now undergoing testing. With this trial, the collection of test data, to better inform the design of the Company's proposed first 5,000 barrels per day ("BPD") commercial production train, is now essentially complete. Until now, the Company's primary focus has been on data collection (testing of different oil sands ores, solvent concentrations and mix tank residence times) and not sustained commercial production from the POSP. The Company can now move to a focus on sustained production. A third party engineering firm has been engaged to review and certify the commerciality of Petroteq's Clean Oil Recovery Technology ("CORT").

A truckload of cleaned sand has now been collected by a nearby drilling fluids company for evaluation and testing. The initial evaluation of the sand was positive and indications are that they will collect additional sand tailings for further evaluation, processing and possible sale.

George Stapleton, Petroteq COO, commented: "DOGM's decision to modify the CO so as to allow POSP operations to resume pending the submission of an updated, revised NOI is very much appreciated. Data gathering for the design of a 5,000 BPD commercial production train should be completed shortly, which will allow for a shift to production operations."

About Petroteq Energy Inc.

Petroteq is a clean technology company focused on the development, implementation and licensing of a patented, environmentally safe and sustainable technology for the extraction and reclamation of heavy oil and bitumen from oil sands and mineable oil deposits. The versatile technology can be applied to both water-wet deposits and oil-wet deposits - outputting high-quality oil and clean sand.

Petroteq believes that its technology can produce a relatively sweet heavy crude oil from deposits of oil sands at Asphalt Ridge without requiring the use of water, and therefore without generating wastewater which would otherwise require the use of other treatment or disposal facilities which could be harmful to the environment. Petroteq's process is intended to be a more environmentally friendly extraction technology that leaves clean residual sand that can be returned to the environment, without the use of tailings ponds or further remediation.

For more information, visit www.Petroteq.energy."

[vauch] 27/5/2021 07:57

Yep another hefty jump up coming.

[vauch] 27/5/2021 07:52

PQE already 12% up on Frankfurt market

[rmart] 27/5/2021 07:52

I am thinking this Petroteq thing through and can’t get away from the fact that the plant must be producing much better quality oil than it was before the upgrades. If this is so then Tomco, despite the bod wanting to dampen down good news will have no choice but to re rate as Petroteq or the buyer will eventually report the facts.

Hopefully Tomco will update its own shareholders soon.

[vauch] 27/5/2021 07:06

Will PQE have to report on major shareholder when the 3% is passed like in the UK

[andy197180] 26/5/2021 20:56

Anyone care to have a guess on the outcome for Tomco shareholders in all this?

[vauch] 26/5/2021 20:31

Also Valkor are not a listed co so can move under the radar

[vauch] 26/5/2021 19:52

Im blind so don't have a use for tinted glasses unless they can contain my whiskey

[lopodop] 26/5/2021 19:29

GS states the suitor is unknown as far as they are concerned. Could it be SB but why take such a diverse route - apparently.
Who else would have knowledge of the apparent glad tidings?

[damac] 26/5/2021 19:19

Or is it all a ruse by Petroteq to drive the share price up to higher levels then bring out a placing. If so, the placing would have to be before the expiry of the offer, so before the 30th June. I guess the Swedish company in on the ruse would then just announce on the 1st July that they did not receive enough declarations from shareholders willing to sell to justify them following through with the offer.

Far fetched? You may say so but again, can Petroteq account for any company carrying out the necessary due diligence on them to go ahead with offering to buy 43% of shares issued, triggering a compulsory offer to buy the whole company?

[rmart] 26/5/2021 19:15

Petroteq 100% up! It has to be Valkor.

There will be a few bloody noses in the Tomco boardroom but fair play to JP, I think he will pull of a massive coup for Tom. A few 100% days coming here too imo.

[vauch] 26/5/2021 18:52

Regarding RTO this listing use to be Netcentric and just before the RTO it was at .0012 a share and after TOM reversed into it it hit 5p a share at the time I had 500k shares as a wild punt, yep £600 to £25k in one week

[damac] 26/5/2021 18:42

mikecoster,

I am leaning towards thinking it is Valkor too. Any company wouldn’t offer to buy 43% shares in another company, at the premium price they are offering, which would trigger them having to make an offer to buy the whole company WITHOUT having done any due diligence. Due diligence would require site visits to see the plant in action. It would also require intense scrutiny of the Pre-FEED & FEED studies. If Petroteq cannot account for any new company visiting the POSP site and scrutinising the data, and by their apparent surprise to this approach you have to say they can’t, then join the dots...

Valkor know the capability of the technology inside out. They will have seen that the upgraded POSP and modified designs for going forward will work. Put yourself in their position, already owning approximately 20% of shares in Petroteq and in a situation where going forward, if they are to build their own plants elsewhere (forgetting about Greenfield for the moment) they will have to pay a license fee and royalties from all oil sold (per plant) to Petroteq. So if Valkor would want to maximise their returns from future plants they would look to minimise all associated expenditure. What better way to do so than buying the company that owns the IP so they don’t have to pay future license fees or royalties. Remember, as previously pointed out, Valkor didn’t buy up all those leases earlier this year with the intention of not doing anything with them.

[fishyneck] 26/5/2021 17:53

With regard to the content of today's RNS (massive phew!). The ruling came through at about 9pm our time last night hence the brief update written and authorised by the nomad late last night. I'm expecting a full project update in the very near future covering all the progress made over the last few months. Over to you John!

[mikecoster] 26/5/2021 17:14

I would think it more likely if it were to be Valkor than Greenfield / Tomco are not involved in any way. Valkor snapped up leases in Utah on their own, and id assume the same with a bid for Petroteq. We would just benefit from a close relationship business partner that owns the IP,

As Damac states, you have to think that anyone who wants to buy 40% of the company must have a pretty good understanding on the figures from the POSP, and that would suggest that Valkor could well be in the driving seat.

I sold out earlier this year after holding for 12 years plus and loosing more than 100K in this then, bought back in splitting it 50/50 with Petroteq.

If it is SB then i wonder how the relationship is with their partner?

[jaynealex] 26/5/2021 16:50

Just been trying to do some quick research on a reverse takeover

So currently Valkor is valued at y and Tom at x , but we've got 5050 in Greenfield

What % of the new company would Tom holders get assuming we didn't sell

I'm assuming valkor wouldn't start by buying Tom shares in the market but that a deal would be recommended by the Tom board

And rather than valkor paying a premium to get rid of us shareholders ...it would be all about striking ratios and us all getting shares in the new entity

[vauch] 26/5/2021 16:45

May be it is Bradfords after the sand.

[damac] 26/5/2021 16:40

I honestly don't know what to make of it all, it seems just so bizarre. If Petroteq were bought out by another entity not associated to Tomco/Valkor/Greenfield, I would like to think that all agreements currently in place between Petroteq and Greenfield with regards to IP Rights and Royalties would be binding and must be taken on as they are by any new owner.

Equally, the cynic in my says that for this unknown entity to be offering what they are for up to 200M shares, they must have a clear understanding of the current situation with the POSP going forward.

[vauch] 26/5/2021 16:37

gould will he offer us tom holders £1 a share

[goulding1215] 26/5/2021 16:32

Well, my theory has always been that S Byle will own Greenfield, including TOM, with Turboshale and Petroteq. He will then own own of the biggest clean oilfields of clean oil in the world, and become Joe’s new best mate.

[ajj2003] 26/5/2021 16:20

Sounds like a cunning plan rmart