Investment Company with an Oil Remediation Focus
TXO PLC, the AIM quoted oil and gas investment company, has four main investments namely: The Grand Bahama Group Limited ("GBG") which is establishing a waste oil collection facility and Hydrocarbon Recovery Plant in the Bahamas at Freeport and also produces oil from its leases in Western Kentucky, USA; Oil Recovery Services Limited ("ORS"), which has proprietary technology for the reprocessing of contaminated oils and the remediation of dirty water; Oil Tech Royalties Inc ("OTR"), a joint venture company with a licence to commercialise a proprietary acoustic flow reactor valve; Athabasca Resources Limited ("Athabasca Resources") which has signed an agreement to acquire a 50 per cent. farm-in interest in certain Alberta Crown Leases covering 7,936 hectares in the Athabasca oil sands in Alberta, Canada. TXO also has an interest in Tasmania Oil and Gas Limited ("TOG") a joint venture company set-up to exploit a gas and oil opportunity in Tasmania, Australia, which is non-core.
As a result of the recent investments TXO is now focussed on areas which deal with either waste oils or heavy and contaminated oils. In the enhanced recovery of oil, the reprocessing of contaminated oil and the allied remediation of dirty water it will be seeking to deploy such proprietary technology and services to those assets owned by companies in which TXO holds investments. There is a clear synergy between the technologies and businesses of ORS, OTR, GBG and ARL.
TXO currently holds a 35.67 per cent. interest in GBG, a 25.1 per cent.interest in ORS, a 30 per cent. interest in OTR and a 20 per cent. interest in Athabasca Resources. It retains a 25 per cent. interest in TOG.