TomCo Energy plc (TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, is pleased to provide a further update in respect of the work being undertaken by Greenfield Energy LLC ("Greenfield"), the Company's 50/50 joint venture with Valkor LLC ("Valkor"), with respect to Petroteq Energy Inc's ("Petroteq") existing oil sands plant at Asphalt Ridge, Utah (the "POSP").
As announced on 1 April 2021, Greenfield identified certain additional enhancements that were required to be made to the POSP to allow for a more efficient and optimised operation. Greenfield is pleased to report that this additional equipment has now been successfully installed and tested, and the POSP is again operational.
