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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Tomco Energy Plc | TOM | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.0025 | -6.67% | 0.035 | 08:04:40 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.0375 | 0.035 | 0.0375 | 0.0375 |
| Industry Sector |
|---|
| OIL & GAS PRODUCERS |
| Top Posts |
|---|
Posted at 08/11/2024 15:37 by freedom97 Result of Annual General MeetingTomCo Energy plc (AIM: TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, is pleased to announce that at the Company's Annual General Meeting ("AGM"), held earlier today, all of the resolutions, as set out in the formal Notice of AGM dated 22 October 2024, were duly passed by shareholders. |
Posted at 08/10/2024 15:56 by 1dutchman RMart is at it again. Even were TOM to have the cash (we don't and won't) how can anyone think it would be a good idea to invest alongside Valkor? This is the same company that was the prime mover behind TOM dumping millions into CORT (almost all of which went into Valkor's pockets as the operator). Valkor knew from early on that CORT was a bust, but it continued to drag out the 'testing' at the pilot plant so as to keep emptying TOM investors' pockets. John, bless him, knew nothing of the industry or the technology and so was completely at Bile's mercy. Now, Valkor has turned to drilling for heavy oil and has got another puppet on a string - Trio. For all of those who think that partnering with Valkor on heavy oil is a good idea - - take a look at Trio's performance over the last six months. No one is buying Valkor's new con. That said, you've got to hand it to Bile. He has managed to create an income stream for Valkor for more than seven years based on nothing more than his own hot air. Clever lad. |
Posted at 18/9/2024 16:34 by 1dutchman Well, this makes my day. (Yes, I know, I really need to get out more). But I am so pleased to learn that the TOM entertainment channel is once again up and running. First off, kudos to you Fenners for continuing to warn any new punters about this company. There is no business and there never will be unless there is a reverse into a company with a new board. For all of those who are still hanging onto the potential for TOM to land an agreement with Valkor, note that the "good faith" lingo in the last RNS applies to Valkor, not TOM. In other words, Valkor was talked into allowing that statement to be put into the previous RNS so as to buy some time for the board. There will be no agreement because TOM has nothing to offer. There's not even a CEO to negotiate an agreement. I also note that today's accounts make no mention of one (or all) of the board starting to collect fees as a consultant. I suppose that won't show up until next year's accounts when the company and the board will be history. But know that the board has just lined their pockets with £10-15k each in 'deferred compensation'. And I will wager that next year's accounts will show that at least one of them is being paid to manage the company through to its demise. I am usually happy that we Brits aren't as litigious as our friends across the pond. But I do sometimes wish that someone would pursue these tin pot boards for their fraudulent activities. AIM would disappear overnight. |
Posted at 18/9/2024 13:45 by haggismchaggis Based on the Assets, Tax Losses and Cash, TOM should be 3x or even 5x the current Market Cap..Valkor have successfully drilled heavy oil wells right next door. If TOM join up with Valkor on it's wells, or get Valkor to drill the same type of unitized wells on TOM's land, the Market Cap of TOM would then be an eye watering increase from today's £1.17m..Cash for at least 12 months: "As announced on 14 August 2024, and as subsequently approved by the Company's shareholders at a duly convened general meeting held on 9 September 2024, the Company has recently completed the redemption of Greenfield's 10% membership interest in TSHII in return for aggregate consideration of US$1.575 million (approximately £1.234 million) before expenses. Pursuant to the Group's cash flow forecasts for the period to 30 September 2025, the net proceeds of the redemption, following settlement of the Group's pre-existing trade creditors and deferred Directors' salaries, are currently expected to provide sufficient working capital for the Group to remain as a going concern for at least twelve months from the date of publication of these interim results, based on the Board's currently anticipated and forecast outgoings." .Loss for 6 months £633k.NET Assets £5,707,000."The Group has tax losses in respect of excess management expenses of approximately GBP15 million available for offset against future Company income. This gives rise to a potential deferred tax asset at the reporting date of GBP3.75 million".Market Cap £1.17m."Alongside the tar sands development project, and subject to raising the requisite additional funding in due course, the Company also intends to pursue the potential drilling of production wells in in situ oil sands on the Lease Area as a means of generating revenue and cashflow for the Group, as it currently has no producing or revenue generating assets"."In summary, we remain hopeful of making progress and reducing the level of uncertainty in the short term as we continue work on a number of fronts" |
Posted at 28/8/2024 20:22 by fenners66 Just read through the circular , what tosh.But they know their "shareholders" will lap it up. There are so many red flags where do you start ? 1, Note directors do NOT tell you what there shareholding pledged to support the scheme is as they barely hold any. 2, They admit that its sell this or they are bust - the year end is only weeks away. 3, They lost £2.3m last year. They paid the directors more money - when if memory serves - they said they were going to cut back. Since the last year end they raised nearly £500k but still did not have enough to pay for interim accounts - a trainee could do them in a few days ! 4, They say the money will pay for interim accounts and suggest they will be relisted as a going concern - but admit there is no other source of finance available so the year end accounts look impossible to issue without going concern qualification. 5, They do NOT declare what the balance sheet creditors amount is and how much of that is deferred directors remuneration - their "Skin in the game" but unable to pay for accounts 6 months ago suggests they already owe more than 50% of a years costs so at least £500k I would guess and perhaps much more. 6, The loss on the 10% interest is another £437k or so. 7, The Valkor loan was classified in the last accounts as Current so chances are Valkor who obviously need money for their drill to persuade anyone else to invest even more money in them will ask for it back. 8, The implication is Tomco cannot do anything in Utah on their own, their only route is to get back into bed with Valkor - "Subject to funding, there is a potential opportunity for the Company to participate and secure a working interest in one or more of the wells planned to be drilled in respect of Valkor’s Asphalt Ridge Project and/or to invest for a minority stake in the project and the Board will now take forward discussions with Valkor about the Company’s potential involvement" WITH WHAT ?! They already admit funding is either impossible or unpalatable. 9. They actually advise that its a doubt that a new lease would be granted... "Endeavor to negotiate in good faith an additional lease from TSHII for the mining of tar sands, which, if ultimately secured," means nothing remember all the caveats there can be no certainty that funding will be secured etc 10, Then the comes the stuff that is not said - why would Endeavor buy TSHII ? They need to convince some investors to put money in them, no one has done this in 10 years with the owners of TSHII except TOM ! Valkor need to secure investment just to drill wells to get data to .... Secure more investment. Its all about the narrative for all of the parties at the moment. So why kill TOMCO ? They have been shown to have the most generous shareholders of all - or is that gullible ? Don't kill the goose that lays the golden eggs. So give TOM some money make the narrative that TSHII is viable. TOM pays Valkor (if it can milk shareholdes for more) Valkor creates more narrative and Endeavor tries to sell that narrative elsewhere. Its the same money going round and TOMco shareholders have lost over £30million already ! 11, The shares might get to be tradeable again, what happens to the share price then? Surely there will be a run for the window of exit - but who would be daft enough to take any off anyones hands ? |
Posted at 14/8/2024 12:22 by fenners66 Byle took all of Toms money and then lent some more with penal interest....Then agreed not to get some of it back until Tom had funding - joining in with TOM to present some narrative to see if any shareholder swallowed it and funded TOM some more. (We know this worked to an extent as we have been informed of a retail shareholder who gave them some more ) - but then got repaid for most of it anyway. In other words - we agree to wording that we will not demand money back and keeping your narrative alive, BUT we want our money back , and any you don't pay will be incurring massive interest cost anyway. |
Posted at 14/8/2024 06:51 by nasarsaddique Proposed Redemption of 10% Interest in TSHIITOMCO ENERGY PLCReleased 07:00:10 14 August 2024?RNS Number : 3368ATomCo Energy PLC14 August 2024 14 August 2024TOMCO ENERGY PLC("TomCo" or the "Company") Proposed Redemption of Greenfield's 10% Membership Interest in TSHII TomCo Energy plc (AIM: TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, announces that the Company's wholly owned subsidiary, Greenfield Energy, LLC ("Greenfield"), entered into an agreement on 12 August 2024 (the "Side Agreement") with Tar Sands Holdings II, LLC ("TSHII") and Endeavor Capital Group LLC ("Endeavor"), which holds 90% of TSHII's membership interests, with respect to the proposed redemption of Greenfield's 10% membership interest in TSHII for an aggregate purchase price of US$1,575,000 (approximately £1,234,000) (the "Proposed Redemption") under a proposed redemption agreement ("Redemption Agreement"). TSHII, Greenfield and Endeavor concurrently entered into a Second Amended and Restated Operating Agreement (the "Revised Operating Agreement") to facilitate a buyout of TSHII's interests by a third party buyer, IRRX (as described further below). Pursuant to the terms of the Side Agreement, both TSHII and IRRX (defined below) have agreed not to terminate an existing lease between AC Oil LLC ("AC Oil"), a wholly-owned subsidiary of Greenfield, and TSHII (the "Lease"), and to negotiate in good faith with Greenfield with respect to entering into an additional lease for mining rights on land owned by TSHII (the "Additional Lease"). Accordingly, Greenfield should be able to continue to pursue its existing tar sands development project and potential in-situ we |
Posted at 28/6/2024 17:16 by vauch 28/06/2024 5:52pmRNS Regulatory News RNS Number : 4575U TomCo Energy PLC 28 June 2024 28 June 2024 TOMCO ENERGY PLC ("TomCo" or the "Company") Delay in publication of 2024 Interim Results and Suspension of trading on AIM TomCo Energy plc (AIM: TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, provides the following update in relation to its unaudited interim results for the six-month period ended 31 March 2024 (the "2024 Interim Results"). The Company notifies that it will not be in a position to publish its 2024 Interim Results by 30 June 2024, as stipulated by Rule 18 of the AIM Rules for Companies (the "AIM Rules"), as it is currently in the process of seeking to raise additional equity and/or debt capital to provide sufficient working capital for the group to enable it to finalise and release its 2024 Interim Results. The Company currently has very limited cash resources but is carefully managing its trade creditors and deferring Directors' salaries and all non-essential expenditure whilst it assesses potential funding options. Whilst the Board remains confident in its ability to raise such additional funding, it cannot be guaranteed. Accordingly, as a result of the current funding uncertainty and impact on the finalisation of the interim accounts, trading in the Company's ordinary shares on AIM will be suspended with effect from 7.30 a.m. on 1 July 2024 pending publication of the 2024 Interim Results. It is expected that suspension from trading will be lifted upon funding being secured and publication of the 2024 Interim Results in due course. Further announcements will be made as and when appropriate. The Company is targeting the publication of its 2024 Interim Results as soon as practically possible. Notwithstanding the suspension of trading in the Company's ordinary shares, the Company will continue to make announcements as and when there are any developments that require announcement in accordance with its obligations under the AIM Rules. |
Posted at 15/6/2024 08:51 by the diddymen Mixi on the now completely deluded thread:"goulding121514 Jun '24 - 19:47 - 31412 of 31412 0 0 0 Yes, a lot of companies, after drilling and confirmation of excellent results, has got the oilers excited, still no comment from TOM. How surprising?" Mixi you are completely deluded. This does not sit within the company's narrative strategy, TOM has no employees and no cash. Institutions lend to companies that have a structure to deliver, TOM does not have one. TOM has no capacity to change its strategy. If the markets are daft enough TOM could raise a shed load of cash to develop another business with a new strategy but existing shareholders will be obliterated and the same BoD will deliver the same outcome for the new shareholders. |
Posted at 27/5/2024 15:40 by 1dutchman It is indeed odd that Talais & Co are touting the successes of the Valkor drilling campaign. They fail to mention that, short of TOM's (unknown terms) loan due to be repaid to Valkor, there is no longer any business relationship. To dig that hole a little deeper, apparently the last word out of Valkor re: TOM was that the two had 'fallen out'. So nothing that Valkor is doing now is of any consequence to TOM. Oh wait. There is, of course, the close proximity of Valkor's drilling to TOM's $20mm pink elephant licence, of which TOM owns 10% (with the remaining funds well overdue). Should Valkor's drilling on neighboring licences prove successful, can it be argued that TOM has some value in it's 10% license? No, it cannot. Because the economic valuation of an oil field all comes down to the capital and operational costs weighed against potential production. The fact that TOM's agreed to purchase the lease at 10x Valkor's neighboring leases means that, even if an expensive steam or huff & puff operation are viable, the economics would be abysmal. Any way you cut the cake, TOM really is out of luck. |
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