logo-loader

TomCo Energy confirms good progress in Utah

Published: 10:03 26 Aug 2020 EDT

TomCo Energy plc - TomCo Energy confirms good progress in Utah

TomCo Energy plc (LON:TOM), in a stock market statement, confirmed that good progress is being made with proposed upgrades to Petroteq's oil sands plant (POSP) at Asphalt Ridge, in Utah.

It notes an announcement from Petroteq Energy Inc communicated details released last week by TomCo and Quadrise respectively.

Greenfield Energy LLC, a joint venture between TomCo and Valkor, last week announced it is  advancing into Phase 1 with its project at POSP.

READ: TomCo boosted as Greenfield moves to Phase 1

“The company confirms that good progress is being made in respect of the proposed upgrades to the POSP, which included finalising the commercial trial agreement with Quadrise Fuels International PLC announced on 18 August 2020, and the company looks forward to providing an update to shareholders on such progress in the coming weeks,”

It additionally noted Petroteq’s recent appointment of George Stapleton as Petroteq's new chief operating officer.

Last week, Greenfield entered into a commercial trial agreement for the POSP project.

The agreement envisages proof of concept work to be undertaken at the Quadrise Research Facility using oil samples supplied by Greenfield.

Additionally, Quadrise will loan a range of MSAR equipment to Greenfield, along with specialist services to assist Greenfield in completing a proposed commercial-scale demonstration. The demo operation will aim to produce over 600 barrels (100 tonnes) of power grade MSAR fuel.

Rush Rare Metals Advances Two Key Projects: Uranium in Wyoming and Niobium...

Rush Rare Metals CEO Peter Smith joined Steve Darling from Proactive to share news about the mineral exploration company's focus on its Boxi Property in Quebec and the Copper Mountain Project in Wyoming. The company recently announced the staking of the Knob claims in Wyoming, comprising 52...

22 minutes ago