Tomco Energy Share Discussion Threads

[damac] 29/5/2021 10:34

Robbie Grossman has a cross border securities, M&A and corporate finance practice underscored by deep experience in acting for emerging issuers and public companies.

Robbie acts for issuers and dealers on public offerings, private placements, exchange listings, reverse takeovers, mergers and acquisitions, restructurings and continuous disclosure obligations for public companies, across a wide variety of industries and business sectors, including healthcare, life sciences, fintech, cannabis, crypto/blockchain, resource, real estate and industrial.

[damac] 29/5/2021 10:32

rmart #19275


I think it will be a case of the offering entity is currently only accepting declarations from shareholders that they will sell their shares to them at the offered price.

I would imagine that they would not follow through and buy those shares if the received declarations fall way short of their intended target i.e. the initial 200m shares that they hope to acquire. They will have a cut off point where if they do not receive 'x' amount of declarations, they will just withdraw the offer and say it was no longer viable.

[fishyneck] 29/5/2021 10:32

https://www.dlapiper.com/en/canada/people/g/grossman-robbie/

[damac] 29/5/2021 10:25

goulding.....


From: [e-mail]

Date: May 21, 2021 at 4:59:22 AM PDT
To: Alex Blyumkin [e-mail]
Cc: "Grossman, Robbie" [e-mail]

Subject: RE: Petroteq


Dear Mr. Blyumkin,

Thank you for you email

It is correct that we have an interest in purchasing your company shares

We have done an official tender offer/ purchase offer that we placed on the official German gazette website with our offer that can be seen on this link www.bundesanzeiger.de à Petroteq ( searchfield )

The reason we did not contact the company direct in the past is we don’t need to disclose our intention to the company at this time, the moment we have the % of shares we are looking to purchase it will be evident.

Now that we have disclosed our intention we believe the reason we put a premium price is to make sure we can attract the purchase of the number of shares we want

Our company contact information is disclosed on our website as well on the German gazette in any event the president and ceo mane is Roger Lars Vilhelm Uppgård.

As well now we are planning on issuing a press release regarding our offer

Would like to issue a joint press release ?

If not please be advised we are going to issue a press release.


Krista Rein

Uppgård Konsult AB
[e-mail]
+ 46 (8) 52500601
Lastgatan 4, 775 54 Krylbo

[goulding1215] 29/5/2021 09:47

Vauch, I think the proposed purchaser of PQE shares explained the high offer price in an email to PQЕ СЕО;. I can’t remember for sure. I am 50/50 on a hoax.

[vauch] 29/5/2021 09:10

But if purchase on open market then they would have to declare as % marks are passed.
This way no one knows how many they will have at 30th June.
What would cause a problem for the accumulator if another offer on the open market arrives.

[ducky fuzz] 29/5/2021 09:00

Illegal news to ramp up the share price to see the shares someone owns.

[rmart] 29/5/2021 08:57

Logic says it cannot be true, otherwise loads of people would be buying millions in the market and selling to the buyer, or the buyer would just buy as many as possible in the market up to that price. Current price is one third of the offer price.

I’m going for fake news.

[ducky fuzz] 29/5/2021 08:53

How many Petroteq shares do Valkor / Steve Byle own ..

[ducky fuzz] 29/5/2021 08:53

Another thought is .. would Petroteq want to be bought out by Valkor / Greenfield.

[ducky fuzz] 29/5/2021 08:50

We all know that Greenfield is talking to lenders to supply the $100 million.
I wonder if the mystery Petroteq buyer is linked to this or to Petroteq's
attempt to raise cash itself.

I assume Petroteq could be bought below market value due to it having no cash
and a very bad credit record.

Surely it makes more sense to buy the company with its intellectual knowledge and
take the rewards for yourself than risk lending Petroteq cash.

[rmart] 29/5/2021 08:50

I am still trying to figure out if the offer for Petroteq shares is genuine. The press release has not come, we have not seen anyone on any bb saying they have taken the offer which is odd, and the share price has not really raced to anywhere near the offer price. If it is true the. We should hear more next week. If not then too me it is a wind up.

[busamitch] 29/5/2021 07:24

Petroteq getting some coverage in the US.



OTC STOCKS ON THE MOVE #3 PQEFF

What a whirlwind of a week it has been for Petroteq Energy (PQEFF). PQEFF closed up 221% for the week!!

On Monday, the California-based clean energy company responded to a stock offer that appeared in Bundesanzeiger, a publication of Germany’s Department of Justice and Consumer Protection. The company had received several emails from European shareholders who were told by brokers that they had received an offer to purchase PQEFF shares.

It learned that a Swedish entity named Uppgard Konsult AB was acting on behalf of an unidentified third party behind the offer and that a press release was forthcoming. PQEFF didn’t know about the offer and since no regulatory filings were yet made under the applicable Canadian securities laws, it simply advised shareholders to do their own due diligence before taking action.

Nothing further has materialized from the matter, but it helped pre-heat PQEFF for what was to come next.

On Thursday, the company announced that oil production was back on its oil sands plant at Asphalt Ridge in Utah, also known as the ‘POSP’. Plant operations had been suspended since May 14th when the company was issued a Cessation Order (CO) from the Utah Department of Oil, Gas, and Mining (DOGM). The agency was concerned about the processing of offsite oil sands ore which was not specifically addressed in PQEFF’s Notice of Intent (NOI).

Following a meeting with the DOGM, the CO was modified to allow the operations to occur through June 30, 2021 including both local and offsite oil sands ore. To keep the operation going from there, PQEFF will have to submit an updated NOI.

While the operations were on hold, the Asphalt Ridge plant moved forward with the integration of a trial solid processing unit that is undergoing testing. It now has enough data to design its proposed 5,000 barrels per day oil production train and move into a phase of sustained commercial production.

PQEFF owns a proprietary oil-extraction technology designed to get heavy oil and bitumen from oil sands and mineable oil deposits. It can be applied to both water-wet deposits and oil-wet deposits. The main advantage of the technology is that since water isn’t part of the extraction process, potentially harmful wastewater isn’t put into the environment.

The news sparked a run to nearly $0.18 in huge volume. PQEFF has since pulled back to $0.13, but given the sudden momentum, it could certainly gush higher over the long term.

[damac] 28/5/2021 23:53

If Valkor took out Petroteq it could possibly mean that Greenfield would not have to pay any royalties on any oil sold from any of their plants.

[jaynealex] 28/5/2021 22:17

So if Valkor took out Petroteq it would make things very " interesting "

[damac] 28/5/2021 22:12

If I remember correctly, prior to the new non-exclusive multi-site licence (mentioned in my previous post), the arrangement was that for every site a plant was to be built on, a licence was required from Petroteq at a cost of approx. $2m. The royalties payments would also be applicable to each plant built.

So it looks like the terms of the Petroteq Licence were renegotiated at the time of the November placing. In return for the money that Greenfield had ploughed into POSP for upgrades, Greenfield were given a multi-site licence AND the rights to use the technology, including the new technology incorporated in the POSP upgrade. Not sure how many sites will be covered by the multi-site licence but Greenfield have potentially saved themselves a hefty bill for future plants by renegotiating, all for the sum of $2m that was being spent on POSP upgrades anyway.

Remember, Petroteq were, and still are, desperate for money, Greenfield had them over a barrel here.

[damac] 28/5/2021 22:00

The full text from the 16th November Placing RNS .....


The Petroteq Licence

In order to provide Greenfield with access to Petroteq's Oil Sands Technology and to enable it to be utilised in future commercial scale oil sands plants to be developed by Greenfield, Greenfield has entered into a new non-exclusive multi-site licence with Petroteq. The Petroteq Licence has been granted in consideration for the funding that Greenfield has provided to date in respect of the upgrades to the POSP, being US$1.5 million, and a further US$0.5 million to be invested by Greenfield into the POSP.

This is an important step for Greenfield as it allows Greenfield to use Petroteq's Oil Sands Technology, which includes Petroteq's processes for the recovery of oil from oil sands, patents, other intellectual property and know-how, in any future oil sands plants to be built by Greenfield in the United States. The Petroteq Licence also clarifies the ownership of any IP developed as a result of the POSP upgrade and associated trials or otherwise developed by Greenfield in the future. Any such IP will be the property of Petroteq and pursuant to the Licence, Petroteq will grant Greenfield the ability to utilise such IP, together with any additional IP developed by Petroteq, in accordance with the terms of the Licence.

For any future oil sands plants built by Greenfield utilising the Petroteq Licence, a 5% royalty of net revenues received from oil products produced from oil sand resources at any oil sands plants will be payable by Greenfield to Petroteq.

The Board believes that a combination of the Petroteq Licence and know how being developed by Greenfield through the POSP upgrades and associated trials, will allow Greenfield to develop its own commercial scale oil sands plant, subject to securing a suitable location and funding.

Pursuant to the terms of the Licence, Greenfield is required to engage Valkor as the sole and exclusive provider of engineering, planning and construction services for all oil sand plants to be built by or under the direction of on behalf of Greenfield under the Licence.

[rmart] 28/5/2021 21:31

Thanks Damac, I thought I was going crazy for a bit there! I knew I had read it somewhere. It was also stated in the failed placing rns in June 2020, so not sure when/why/ if it changed.

. All modifications and improvements to the IP developed in Greenfield, including in relation to the upgrade of the POSP, will belong to Greenfield, which the Board of TomCo believes will allow Greenfield to develop its own oil sands plant, subject to identifying a suitable location. Greenfield will seek to identify and secure suitable locations in Utah for a commercial scale (up to 10,000 bopd) oil sands plant.

[damac] 28/5/2021 21:09

I don’t know which statement is correct but I’d be leaning towards the one that BusaMitch posted as that was from a later date. It also says “clarifiesR21; which suggests there was an earlier miscommunication.

I only posted the one from the Interim Results RNS as Rmart was saying he had read it somewhere that Greenfield own the IP on any plant upgrades. I knew I had read that somewhere too so went looking for it.

[shaunx] 28/5/2021 18:55

Some clarification needed indeed after this latest period of cloak n dagger share movements!

[jaynealex] 28/5/2021 18:32

Hi Shaun , that's from Damacs post , 30 June 2020 interim results

The section I posted is from Busa's post RNs 30 /11/20

Confusing to say the least

[shaunx] 28/5/2021 18:27

Hmmm - I'm reading 'All modifications and improvements to the IP developed by Greenfield, including in relation to the upgrade of the POSP, will belong to Greenfield,'

[jaynealex] 28/5/2021 18:20

Shaun , according to Busa's post Petroteq own the IP of all developments by Greenfield



16/11/2020 RNS


The License also clarifies the ownership of any intellectual property developed as a result of the POSP upgrade and associated trials or otherwise developed by Greenfield in the future. Any such intellectual property will be the property of Petroteq and pursuant to the License, Petroteq will grant Greenfield the ability to utilise such intellectual property, together with any additional intellectual property developed by Petroteq, in accordance with the terms of the License.