TomCo Energy: Tapping into market for low sulphur fuel oil

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  • TomCo Energy chairman hails ‘very exciting times’ as Greenfield venture advances
  • TomCo Energy makes “considerable progress” towards Tar Sands production facility
Tomco operations

Quick facts: TomCo Energy PLC

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TomCo Energy PLC holds nine separate Mineral Leases, being ML49570, ML49571, ML48801, ML48802, ML48803, ML48806, ML49236, ML49237 and ML50151.

All of these are in the Uinta Basin of Utah and together they cover a total land holding of 15,488 acres.

They are also underlain by the Green River Shale Formation, which is the largest known oil shale deposit in the world.

08 Sep 2021

(, ) executive chairman Malcolm Groat said these are “very exciting times” as it works to realise the full potential of its Greenfield venture.

In a statement ahead of today’s AGM, Groat highlighted Greenfield’s recent progress – striking a deal to acquire a site for a commercial operation in Utah and concurrently TomCo moving to take full ownership of what had been a joint investment.

It follows a successful pilot test of the envisaged oil sands processing operation, and, the plan is now to scale up to build a 5,000 barrels per day facility – that can be expanded up to 10,000 bopd – on the new site, being acquired from Tar Sands Holdings II LLC (TSHII).

“The focus of everyone at TomCo remains firmly on completing the remaining due diligence on TSHII and the site, and progressing the necessary funding package in order to, secure the initial 10% membership interests and further progress the detailed planning to pursue construction of an initial 5,000 bopd facility at the earliest opportunity,” Groat said.

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01 Sep 2021

(, ) told investors Greenfield Energy LLC, now a wholly owned subsidiary, is progressing its deal to acquire an interest in 760 acres of land and assets in Uintah County, Utah.

This area is earmarked for the future mining of oil sands and construction of a commercial scale processing plant, based on the pilot facility used in recent tests by Greenfield.

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26 Aug 2021

(, ) is to take full ownership of the Greenfield Energy LLC vehicle in a share-based transaction with partner Valkor.

The deal follows a successful phase of trial work using (, )’s existing oil sands plant at Asphalt Ridge, in Utah, and as Greenfield advances engineering design programmes for new facilities.

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10 Sep 2021

(, ) chairman Malcolm Groat and CEO John Potter joined Proactive London’s Stephen Gunnion following the company’s annual general meeting this week.

Groat and Potter telling Proactive that the company has made considerable progress in recent months with its focus on Greenfield Energy and its plans to pursue the construction of an initial 5,000 barrels of oil per day (bopd) production facility at the earliest opportunity.

04 Aug 2021

TomCo () is an oil & gas exploration and production company that operates in the Uinta Basin in Utah. The Uinta Basin and adjacent formations hold some of North America’s largest deposits of oil sands with the potential to yield some 10 billion barrels of oil. In June 2020 the company announced the formation of a joint venture (JV) called Greenfield Energy LLC to unlock the potential for oil sands development within the area using an innovative new production technology.

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TomCo Energy makes “considerable progress” towards Tar Sands production facility

TomCo Energy PLC (AIM:TOM, FRA:NI41) chairman Malcolm Groat and CEO John Potter joined Proactive London’s Stephen Gunnion following the company’s annual general meeting this week.

Groat and Potter telling Proactive that the company has made considerable progress in recent months with its…

10 hours, 40 minutes ago

2 min read

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