Tomco Energy Share Discussion Threads

[ducky fuzz] 17/7/2022 11:36

I can feel the anticipation rising. Time for contestant number 34.

[thrgef] 17/7/2022 11:34

Excellent post Stuart

[stuart little] 17/7/2022 11:19

John potter has successfully changed local legislation to allow co2 drilling. He has successfully applied for and been granted lucrative tax incentives. These things have taken months to complete. People are entitled to believe this is all part of the charade that is AiM 'can kicking'. I choose to believe this hard graft will soon turn tomco into a very profitable producer owning a first class land asset.

[talais] 17/7/2022 09:28

https://business.utah.gov/incented-companies/

[talais] 17/7/2022 09:24

How our Tax credit works,https://business.utah.gov/corporate-retention-recruitment/

[talais] 16/7/2022 22:07

https://www.popularmechanics.com/science/environment/a39880899/earth-is-running-out-of-sand/

[chadwick123] 16/7/2022 19:17

This year Vauch will be very interesting:)

[vauch] 16/7/2022 18:44

Wow, what a hot day today.
I hope you are all locked it as we will be on one hell of a ride.

[ducky fuzz] 16/7/2022 07:48

Hi th .. exciting times to be a TOMco shareholder.

[thrgef] 16/7/2022 07:46

Forgot about off take agreement and earnings RNS which is expected to be in the mix soon. Looking forward to see the figures for the sand

[thrgef] 15/7/2022 20:53

My bet permit news next week, funding news week after, then August to mobilise drill rigs for September drilling

[ducky fuzz] 15/7/2022 18:01

TomCo Energy: Greenfield Energy venture lands Utah tax relief programme
“Energy Independence has never been more important to the nation, and we are proud to support this venture," said Utah Office of Economic Opportunity's executive director Dan Hemmert.

TomCo Energy PLC - TomCo Energy: Greenfield Energy venture lands Utah tax relief programme
TomCo Energy PLC (AIM:TOM) told investors that Greenfield Energy LLC, its wholly owned subsidiary, has been awarded a 10-year marginal tax relief.

The tax reduction could be worth up to US$76.3mln, it said in a statement.

It noted that the benefit is the result of an investment incentive in Utah. In return for investing and creating jobs in the region, the company may receive up to 50% of the state taxes over a ten year period.

"We are excited to see Greenfield's growth plans in the Uintah Basin,” said Utah Office of Economic Opportunity's executive director Dan Hemmert.

“Energy Independence has never been more important to the nation, and we are proud to support this venture which will provide significant investment into rural Utah.

“We are also pleased to see the planned application of innovative processes, aggressive carbon sequestration, and efforts to be carbon neutral - from well to tailpipe."

TomCo chief executive John Potter, meanwhile, added: "The amount of local support we have received in advancing our project to date has been outstanding and I would like to thank everyone involved.

“We believe our proposed development project in Uintah County is based on an exceptional deposit with tremendous potential.

“We continue to make good progress with our plans for the TSHII site and continue to advance the previously announced due diligence exercise being undertaken by a potential financing party currently interested in backing our plans for Greenfield.

“We look forward to providing further updates in due course."

The tax credit system is a EDTIF (Economic Development Tax Increment Financing) programme, run by the Utah Legislature.

Each year that Greenfield meets the criteria in its contract with the state and new incremental state taxes have been receipted and verified, it will qualify for a portion of the total tax credit, up to the aggregate cap of US$76.3mln over the ten-year period.

[ducky fuzz] 15/7/2022 17:55

Good to see we kept most of today's share price rise. DF

[kdickson] 15/7/2022 16:35

Nice find rmart.
I see most Twitter followers on that thread are unhappy about the pollution aspects of a new railway. However I think they are totally ignorant of the carbon sequestration and cleaning up of dirty oil sands that associated industries will bring.

[rmart] 15/7/2022 16:11

it just gets better..

Utah Gov. Spencer J. Cox
@GovCox
· 19h
We just learned the U.S. Forest Service has signed the Record of Decision authorizing the Uinta Basin Railway.

Great news for Utah! This is a huge victory that will get our energy to market faster, more cleanly, more safely, and will help the economies of eastern Utah.

[ajj2003] 15/7/2022 15:51

Thanks most appreciated and Tomco still the only game in town for CORT so plenty of coverage moving forward.

[stuart little] 15/7/2022 15:46

HSO are in-situ drilling. Not building a plant.

[ajj2003] 15/7/2022 15:36

When are HSO likely to get the permits to build their own plant? We know that Tomco are assisting in HSO permits etc however at present Tomco are the only game in town where CORT plants are concerned. First mover advantage will get the column inches as and when the CORT plant is progressed ;)

[kdickson] 15/7/2022 15:24

Interesting that both will create the same number of jobs even though HSO has more than double the Capex (according to figures on the EDCUtah website).

Greenfield 214 jobs capex $150m
HSO 213 jobs capex $330m

[talais] 15/7/2022 14:15

More support from Utah government."While our involvement in this expansion project was limited, we welcome Greenfield Energy and Heavy Sweet Oil to Utah's energy industry," said Theresa A. Foxley, president and CEO of EDCUtah. "These two companies are innovating the extraction process and moving the industry to more sustainable methods."

[kdickson] 15/7/2022 14:04

Sorry rmart, where's your reference to billionaires come from? :)

[rmart] 15/7/2022 13:53

Billionaires involved ! Its about to hot up quickly.

[talais] 15/7/2022 13:53

Their entire team has moved to Utah."Heavy Sweet Oil is extremely excited to develop our project in the state of Utah, especially in rural Utah. It is there that we believe we can make the largest positive impacts with our investment and operations," said Steven Byle, chairman of Heavy Sweet Oil. "We have developed a world-class team to develop this major asset. In fact, we have relocated our entire operations and management team to Utah to advance this project for decades to come. Together with the other producers in the basin, we believe that Utah will be established in the years to come as a major player in the U.S. energy economy. We further intend to show our appreciation to the state and local communities by giving back over time through building recreational, wildlife, and community infrastructure as we move forward together.