Tomco Energy Share Discussion Threads

[hotfinance14] 28/1/2021 08:55

I agree Stuart. They are probably near the final stages of agreement.

[stuart little] 28/1/2021 08:47

I reckon there's zero chance they haven't already had preliminary discussions with project financers.

[freedom97] 28/1/2021 08:26

Yes, an excellent update.

[vauch] 28/1/2021 08:03

Interview yesterday was fantastic but will we ever get this heavy weight supressing the share moved.
If it was the year 2000 this would have gone up over 1000% already. oh I miss those days.

[hotfinance14] 28/1/2021 07:46

I wonder if the sample has been sent to Quadrise.

Great update from the video.They look very confident.

[ducky fuzz] 28/1/2021 07:07

I wonder what Yesterday's video presentation will do for sentiment today. DF

[ducky fuzz] 27/1/2021 21:28

Ahhhhh but no mention of the twitter account.

[goulding1215] 27/1/2021 21:27

Very confident update, everything is on schedule for the FEED геport by end of February, then discussions on project finance. Sounds good on every front.

[oil be there] 27/1/2021 21:05

Great viewing on Proactive Interview, they all seem very confident that plant upgrade improvemts are delivering significant benefits in production output and reliability. 250 bopd should soon follow within 2 weeks and completed FEED survey by the end of February and then as Stuart says we're off to the racers.
Damac's excellent post earlier demonstrates how funding can be constructed without forking out a total lump sum as some doomsters have been banging on about. Exciting times and a great entry point for potential huge gains.

[stuart little] 27/1/2021 20:59

Sorry got oil and ore muddled. Anyway same sentiment.

[fishyneck] 27/1/2021 20:42

This better quality ore, wonder if they sourced it from our new site? Thanks for sharing the video.

[ducky fuzz] 27/1/2021 20:37

Nice summary Busa, thanks.

I had to watch the video twice to nearly understand what they were saying. DF

[busamitch] 27/1/2021 20:34

Upgrade works completed before Christmas
Added 1/3 more capacity - removed pinch points
Revamped back end of plant
Improvements implemented for long term reliability-long term continuous production run planned.
Experimenting to reduce mix time
Higher quality ore changes FEED analysis, may need extra process. Answers in a week or so.
250 barrels/day following final optimisation/commissioning
FEED study end of Feb.
By which time identified all equipment, refined schedule, capital costs and long term operating costs.
Then discussions with project financiers....

[stuart little] 27/1/2021 20:32

A much higher quality of oil is causing the slight delay of ramping things up. Can't think of a better reason! Thanks for sharing.

[ducky fuzz] 27/1/2021 20:03

Thanks Busa.

[busamitch] 27/1/2021 19:59

Nice video....

[busamitch] 27/1/2021 19:55

TomCo Energy updates on status of POSP operations and initial oil production at Utah-based project

[stuart little] 27/1/2021 19:05

Damac, a very crude payback time of 2 years based on £100m for a 5k plant with £30 a barrel profit, plus potential revenue from byproduct sand. So get the 250 barrel from continuous production, 3rd party verification, FEED to back up the pre FEED numbers and we should be off to the races. Greenfield will have already sounded out lenders. As Goulding has said £100m is not a lot in this industry to build a plant.

[ducky fuzz] 27/1/2021 18:00

Brilliant post as always damac. Thanks DF

[damac] 27/1/2021 17:40

goulding,

I honestly don't think Greenfield will require to raise $180m upfront anyway.


From Petroteq's Pre-FEED press release on 16th Sept. 2020 ......


"The purpose of the study was to confirm the technical feasibility of the plant and make a first estimation of capital cost. The study confirmed that an initial 5,000 bopd train can be constructed using conventional oil processing equipment at an estimated cost of US$92.5mm, or US$18,500 per nameplate bopd. Pursuant to the study it is believed that subsequent parallel 5,000 bopd trains can be added for less owing to savings from shared infrastructure."



Based on the above, I expect Greenfield to announce at some point, something along the lines of .....


'With funding in place we will now progress to building or own 10k bopd capacity plant which will consist of 2 x 5k trains. To achieve this in the most cost effective manner, we intend to install and commission the 1st 5k train as soon as possible so that revenues generated by the 1st train can be used as capex on the installation of the 2nd train.'


So according to the Pre-FEED it would cost around $92.5m per 5k train. I would hope that the final FEED study will bring this price down further as the numbers are firmed up, yet realise that the cost could actually go up.

Furthermore, as has been stated on here before, if most of the equipment is standard oil processing equipment, then asset financing will be utilised where possible which would result in a significant reduction on the amount of upfront funds needing raised.

[goulding1215] 27/1/2021 16:15

Tomco will not be raising $180 million for the plant. That will be done by Greenfield and Stephen Boyle. SB as a successful businessman in Texas should have enough contacts to raise what is a relatively small sum for an oil company, with proven resources. Tomco will have no debt. The debt will be to Greenfield, depending upon the contract. 5000 bopd is being lifted, the lease sorted and MSRA proven, the FEED report, it will be a breeze.

[vauch] 27/1/2021 16:14

rmart, going by what has happened previously the share price will be as is now

[stuart little] 27/1/2021 16:03

I'm never going to give share price predictions. Higher than today. As long as the project keeps delivering the Sp will be ok.