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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
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.0375 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.0375 | 0.0375 | 0.0375 | 0.0375 | 0.0375 |
| Industry Sector |
|---|
| OIL & GAS PRODUCERS |
| Top Posts |
|---|
Posted at 27/6/2025 12:21 by fenners66 The line about repayment only falling due if.... was put into the accounts as a technicality so the auditors could not declare them in danger of being insolvent at a given point and to add support to the gamblers putting more cash into TOM on the basis that it was not just going to be used to pay Valkor before something actually happened....As we can see since they have continued to pay Valkor regardless that the words and actions were considerably different... and nothing has been done with the funds raised to create a business. Valkor are close enough to TOM to have known that they could not kill the golden egg laying Tomco bird... Insist in writing on getting the money back and likely new funds from gamblers would have dried up. This way they still got repaid and the gamblers still "believed" ..... |
Posted at 25/6/2025 19:57 by the diddymen 1d, you could not make it up, a cursory search indicates that it is the name he uses on Linkedin.Oh dear what a sure sign of TOM hitting the knackers yard. I did not say but the final emotional para on the sad demise of John Potter was pathetic and added no value whatsoever to the report. These CEOs know their shareholders. TdeD |
Posted at 25/6/2025 11:26 by 1dutchman TD - you are spot on with regard to the the Valkor relationship. To be clear, Valkor has not shown that they've gotten oil to flow commercially from their test wells. (This is fact-checked by the inability of the other partners to raise funds for further drilling or acquisition of leases). As was the case during the pandemic when Valkor had no income and so soaked Tom for further testing on a project that they knew to be a dog, the current oil price (and lack of associated engineering contracts) combined with the failure of their test wells will lead Valkor to once again seek Tom (or other)funding to keep their bosses in clover. I don't see TOM raising the funds, but hey, TOM investors have fallen for porkies many times over the years. All of that said, given the oil price - and projections of it staying low for the next 3-5 years - there is no way that Valkor's extraction process is economical. Steam or downhole heaters are expensive to operate. |
Posted at 25/6/2025 07:21 by the diddymen Next set of results.The bottom line is that the company had net assets at 31/03 of £41k and £489k in the bank. Stripping out foreign currency movements the P&L 'cash burn' was £333k. In the waffle section which is laced with conditionals, the Chairman described why TOM has become the risk capital arm of Valkor. TOM will raise the cash, Valkor will splaff it, and come judgement day TOM shareholders will be left with nothing, but will have financed Valkor's R&D costs. We do not hear much of the Welsh duo these days; are they not willing to finance the latest dream. |
Posted at 29/4/2025 11:45 by the diddymen Looks like yesterday;s move is fizzling. Re my previous post TOM could have ignored it on the grounds of materiality. As ever with TOM there will have been purpose and the immediate thought is testing the market for fund raising/directors' emoluments. |
Posted at 28/4/2025 20:46 by the diddymen a 57% increase in a day merits an RNS advising investors of the company's view of the movement. There are no known reasons for the rise or we are aware etc.... Given that this is TOM the thought is to string it out a bit longer which will enable more stock to be forward sold. |
Posted at 12/4/2025 16:18 by 1dutchman TD - the failure of the share price to reflect any of the ructions in the market over the last week shows that shareholder interest is as derelict as the BOD. However, a quick scan of the LSE board discloses attempts to pump up TOM based on Lafayette Energy's IPO plans. It really is laughable but I admit to being too indifferent to warn any possible Lafayette investors of the futility (not that ANY oil and gas IPOs are going to fly in the current market). Though Lafayette's BOD appears to have a relevant background (unlike TOM's), they have shown their fatuity by having Valkor act as their operating team. Once again, Valkor pockets the cash but takes no risk. And a closer inspection shows that the reserves estimation was done by Valkor's chosen Canadian G&G group (Chapman?) that provided estimates for the CORT enterprise - - a group that has no experience with oil sands (old hands might recall that TOM had to pay to 'import' sand because the CORT pilot plant had been sited in an area where the 'oil' sands were apparently too deep to mine). Additionally, the presentation overlooks the fact that Valkor never achieved commercial production from their two test wells. Instead, the estimated 40 bbls/day per well comes from the downhole heater manufacturer (it is unclear whether this was the maker of the heaters that failed, or the replacements for which there was never any claim of success). It goes on and on, but the conclusion is that Lafayette's plans are as thin gruel as TOM's ever was. I do hope that someone warns them off Valkor before more millions are wasted. |
Posted at 28/8/2024 21:22 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 07:51 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 27/5/2024 16:40 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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