Sky Quarry to connect BioForce with financing sources for Nevada oil exploration
SKYQ•SKYQ•SKYQ•SKYQ•Sky Quarry signed a non-binding letter of intent to introduce BioForce Nanosciences to potential financing sources for its Nevada oil development program. BioForce seeks approximately $25 million for work across about 19,957 acres; financing is not guaranteed.
Sky Quarry signed a non-binding letter of intent to introduce BioForce Nanosciences to potential financing sources for exploration, drilling and development across approximately 19,957 acres of federal leases in Nevada’s White River Valley. BioForce seeks approximately $25 million. The agreement requires no investment from Sky Quarry’s balance sheet and provides no transaction-based compensation; financing is not guaranteed.
The arrangement advances Sky Quarry’s Nevada Oil Development Program, which targets up to $50 million in third-party investment directly into producers and projects. Successful production could supply the Eagle Springs Refinery, operated by subsidiary Foreland Refining, subject to a separate purchase agreement at market-based pricing.
