Tomco Energy Share Discussion Threads

[goulding1215] 23/8/2021 09:18

Damac, I am glad that you are on the ball, AS USUAL, someone needs to be. Thank you. Pity you are not the CEO

[goulding1215] 23/8/2021 09:15

Well, let’s wait and see.

[ducky fuzz] 23/8/2021 09:14

Clear as mud.

[damac] 23/8/2021 09:14

Shaun,

The poster on LSE has copied a section of the RNS which specifically relates to Phase 2 and would fall under a Commercial Supply Agreement that has not yet been agreed. It is the Commercial Trial Agreement that has been extended today.

[damac] 23/8/2021 09:02

The agreement which has been extended today (even though there was no expiry date) is for Phase 1 only.

[shaunx] 23/8/2021 09:00

I don't read it like that, it's the commercial trial to make QFI addition to the plant and an extension suggests that results are positive.

[damac] 23/8/2021 08:59

The RNS from 18th August 2020…..

Phase 1 has definitely not been completed.


TIDMTOM

RNS Number : 4802W

TomCo Energy PLC

18 August 2020

18 August 2020

TOMCO ENERGY PLC

("TomCo" or the "Company")

Greenfield Commercial Trial Agreement

TomCo Energy plc (AIM: TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, is pleased to announce that Greenfield Energy LLC ("Greenfield"), the Company's recently formed 50/50 joint venture with Valkor LLC ("Valkor"), has entered into a commercial trial agreement (the "Agreement") with Quadrise Fuels International plc ("Quadrise").

TomCo, together with its JV partner Valkor, and Quadrise, believe that the use of Quadrise's MSAR(R) technology can add significant value to the development of heavy and paraffinic oil deposits in Utah. Pursuant to this, the parties have planned a phased implementation of the MSAR(R) technology that covers:

-- a commercial trial of MSAR(R) technology at the Petroteq Oil Sands Plant ("POSP") located in the Asphalt Ridge Facility in Utah, USA, ("Phase 1") that is now being managed and operated by Greenfield; and

-- the development of commercial MSAR(R) plants of up to 10,000 barrels oil per day ("Phase 2") located at Utah facilities owned or operated by Greenfield.

The Agreement covers Phase 1 and comprises the following activities that are planned to be completed during the remainder of 2020, subject to completion of preparatory works at the POSP facility by Greenfield:

-- proof of concept formulation and test work at Quadrise's research facility using oil samples supplied by Greenfield;

-- the loan of Quadrise MSAR(R) commercial production equipment and MSAR(R) test equipment and supply of MSAR(R) additives; and


-- the supply of specialist services to assist Greenfield in completing the commercial scale demonstration trial to produce over 600 barrels (100 tonnes) of power grade MSAR(R).
The parties intend to continue to cooperate in good faith to agree the commercial terms of a conditional MSAR(R) licence and commercial supply agreement for the production of MSAR(R) fuel under Phase 2. Such a conditional licence, which is now envisaged would be provided directly to Greenfield (rather than to Valkor and assignable to Greenfield as had been previously envisaged) will only be finalised upon, and following, inter alia, satisfactory results of Phase 1, the agreement between the parties as to Phase 2 commercial terms and the entry of binding agreements.

Further updates will be provided in due course as appropriate.

John Potter, CEO of TomCo, commented: " The Agreement represents an important milestone in the proposed upgrade and test programme to be undertaken at the POSP, as Greenfield seeks to complete its proof of concept work and commercial scale demonstration trial later this year utilising the Quadrise MSAR(R) technology to produce a premium, heavy fuel oil product suitable for retail sale. These are exciting times for TomCo and I look forward to providing further updates in due course. "

Enquiries:

[damac] 23/8/2021 08:51

Re the post from LSE reported here…..

I cannot see how stage 2 can be engaged and a license taken on by Greenfield without stage 1 being completed which included (after initial laboratory analysis), the MSAR kit being integrated into an operating plant to then prove the findings of the laboratory analysis. Greenfield no longer have access to an operating plant that MSAR can be trialed on. On completion of the initial laboratory analysis of the oil, I would not expect any further movement on it (assuming the lab analysis shows good results) until such times where Greenfield have built their plant and can integrate MSAR for testing purposes during the commissioning stage.

[lopodop] 23/8/2021 08:47

Goulding 1215
TOM's board may have concluded that the company cannot participate in GREENFIELD as envisaged. Forget all the guff about shareholder liason as recited numerous times by the esteemed chairman. It is other people's cash that is at risk so he is quite content to break the rules and try to keep the project rolling. The cautious and perceptive have possibly left leaving the thrill seekers to await the Board's mercy.

[ducky fuzz] 23/8/2021 08:37

operstion ...

[hotfinance14] 23/8/2021 08:34

If qfi expect to complete the trial by 31.12.21 we know a POSP must be in operstion
to complete this.

[goulding1215] 23/8/2021 08:26

Once they got the oil, a few weeks was what was understood.

[hotfinance14] 23/8/2021 08:21

The QFI RNS seems very unclear as there was not an original date for the trial to be completed.

[goulding1215] 23/8/2021 08:01

Well, they wouldn’t be bankrupt, sack the CEO and progress on Turboshale, which will produce oil sooner than Greenfield.

[goulding1215] 23/8/2021 07:53

So far nothing from TOMCO. Ah! I know, they are on holiday, and not answering the phone.

[goulding1215] 23/8/2021 07:28

From a poster on LSE. Who is clued up on QFI

Today 07:25
So Stage 1 complete - as outlined one year ago in QFI RNS 18/8/2029, now move to commercial trials, Stage 2.

“Quadrise, Greenfield and its JV partners, Valkor and Tomco will continue to cooperate in good faith to agree the commercial terms of a conditional MSAR® licence and commercial supply agreement for the production of MSAR® fuel under Phase 2. Such a conditional licence, which is now envisaged would be provided directly to Greenfield (rather than to Valkor and assignable to JVs as had been previously envisaged) will only be finalised upon, and following, inter alia, satisfactory results of the Phase 1 CTA, the agreement between the parties as to Phase 2 commercial terms and the entry of binding agreements.”

[goulding1215] 23/8/2021 07:18

Agreed AJJ. QFI have not yet been able to improve the oil to Greenfield’s requirements. My guess.

Still waiting for the results from the major oil company.

[talais] 23/8/2021 07:17

Hopefully we will get an Rns, to explain.

[ajj2003] 23/8/2021 07:14

DF - morning, would say that initial trials have shown the potential exists to use the Quadrise technology. Now more in depth studies being undertaken to look into the finer details and the possible range of products that can be produced. Quadrise have only had the three drums of oil for a short period of time due to the delays.

[ducky fuzz] 23/8/2021 07:05

What does that mean ..

Has QFI failed to make their process work and require more time ..

Or need more ore to work on ..

[talais] 23/8/2021 07:02

Qfi rns23 August 2021Quadrise Fuels International plc("Quadrise", "QFI", the "Company" and together with its subsidiaries the "Group")Greenfield Commercial Trial Agreement ExtensionQuadrise , the supplier of MSAR(R) and bioMSAR (TM) emulsion technology and fuels, which are low-cost, cleaner alternatives to heavy fuel oil and biofuels, announces that the Commercial Trial Agreement ("Agreement") with Greenfield Energy LLC ("Greenfield"), the joint venture between Valkor LLC and TomCo Energy plc detailed in the announcement dated 18 August 2020, has been extended to 31 December 2021. All other terms and conditions under the Commercial Trial Agreement remain the same.

[wilson2] 22/8/2021 22:55

Shell And BP employ 100,000 people but Tomco can do this with two directors

[ajj2003] 22/8/2021 20:57

A not so subtle hint of what is to come shortly?

We believe great companies are built from great teams and collaboration. Without our employees or partnerships, we wouldn't be where we are today.

Learn more about our stance and our other values: [...]

#petroteq #pqeff #cleanenergy
8:27 PM · Aug 22, 2021·SocialPilot.co

hxxps://www.petroteq.com/about/

[ajj2003] 22/8/2021 16:25

Petroteq Energy Inc.Helping with the Transition too a Cleaner Future.Dr. Jerry Bailey, Chief Executive Officer Comments on a Changing World and a Challenging Road Ahead for Fossil Fuels.$pqe $pqeff $oilsands #pqe #pqcfhttps://oilprice.com/Energy/Crude-Oil/What-Happens-If-We-Stop-Pumping-Oil-Tomorrow.html