Tomco Energy Share Discussion Threads

[spangler79] 11/2/2021 23:26

I believe the current posted bond is 385,000 but the total surety is 3,500,000. They tried to setup a deferred schedule based on production output at the "extension facility" but the division had no power to agree.

[damac] 11/2/2021 20:57

Just examining all hypothetical scenarios that is all. It can't be helped when waiting for news, the mind starts to wonder lol.

[fishyneck] 11/2/2021 20:06

I'd add that the only way Petroteq are going bust in the near term is a major issue with the POSP scale up which could of course have serious implications to us all. If, as is hoped, they can increase to 500 barrels per 24 hr shift then profits could run to $300k a month, (assumed $20 profit) about the amount needed for the surety. PQE have been hanging on for years, don't think it will fall now.

[ducky fuzz] 11/2/2021 19:09

If Greenfield has purchased licensed rights then surely they keep the rights if PQE
go bust.

[damac] 11/2/2021 18:52

Shaunx,

Thanks for that.

So in some respects, it would be more beneficial for Greenfield that Petroteq continue to operate i.e. they wouldn't have to go through the stress of trying to secure a patent later on.

It must be viewed by Greenfield as a potential risk to future operations though nonetheless. Hypothetically Greenfield could always mitigate against such a risk by acquiring Petroteq.

[ducky fuzz] 11/2/2021 17:26

I wouldn't be too worried if it was serious for us I would think Greenfield or Steve B would have to come to the rescue and loan them the money or pay for more shares.

At some stage SOON Petroteq will be producing 500 barrels a day and this will give them income. DF

[shaunx] 11/2/2021 17:24

If bought as a going concern the agreement remains in place. If liquidated Greenfield can bid for the patent.

[damac] 11/2/2021 17:03

Thinking completely outside the box here so please bear with me.

We all know that Petroteq are struggling financially. The latest revelation that they need to renew their license (by providing an increased surety) by the 1st March to allow them to keep mining the resource to feed POSP going forward (see Spangler’s posts #17662 & 17730 in this thread) must be concerning for them.

This then got me thinking of the licensing agreement held by Greenfield allowing them to use the Petroteq technology at any location Greenfield deem suitable.

I then got wondering about a worst case scenario whereby Petroteq (through financial difficulties) cease trading. My question I’m hoping someone on here will be able to answer is....what would happen to the licensing agreement should Petroteq go to the wall? Does it automatically become null & void meaning no entity can use their patented technology or does some agreement have to be reached between Greenfield and Petroteq’s liquidators?

Anyone here knowledgeable on such issues?

[ducky fuzz] 11/2/2021 16:08

All Greenfield have done so far is tests .. It is nothing but potential.
Nothing concrete yet.

[ducky fuzz] 11/2/2021 16:05

Hi free .. the trouble is that traders buy the share thinking it cheap but sell
when nothing happens.

This why rmart isn't buying.

[freedom97] 11/2/2021 15:54

Ducky, it's like a spring being held down ready to spring into action on good news, at least the share price has been consolidating nicely for few months at current SP, so creating very strong support.

[ducky fuzz] 11/2/2021 15:38

Hi free .. I think that we have been close to 0.5p for sooooooo long that anyone
wanting to add has had the opportunity to do so over a long period of time.

Also until we get SIGNIFICANT NEWS the share price isn't going anywhere.

The trouble with having millions and millions of shares bought in the two placings.

[hotfinance14] 11/2/2021 15:32

I can see it exceeding $70 per barrel this year.

[freedom97] 11/2/2021 15:22

"Citi revises 2021 oil price forecasts higher

Analysts at Citi revised their projections for the price of oil, citing oil producers' success in running down global inventories and improved prospects for demand.

The broker's analysts increased their forecast for oil prices in 2021 by $5 per barrel to $64."

[freedom97] 11/2/2021 15:18

I'm surprised more pi's aren't adding at this share price before news, and thought the share price would be over 1p by now. Maybe they want to wait first to see if very good news.

[wilson2] 11/2/2021 12:02

The chance of any bank's lending £180,000,000 to these two companies is zero in my opinion

[oil be there] 11/2/2021 11:50

Interesting also that Petroteq COO & Valkor recently bought shares in PQE.

[ajj2003] 11/2/2021 11:47

Final Issue of Convertible Securities

hxxps://polaris.brighterir.com/public/quadrise/news/rns_widget/story/x2jlynw

[damac] 11/2/2021 11:46

Ducky,

There are ways to offload financial liabilities of companies whilst also selling their assets to other companies.

[damac] 11/2/2021 11:31

Ducky,

I don’t know, that’s why I have asked the question.

[ducky fuzz] 11/2/2021 11:30

I think Petroteq is a bit of a financial car crash. Not someone I'd get into bed with.

[stuart little] 11/2/2021 11:24

Rmart that is something I've pondered too, on the back of PQE's continuous money problems! It's a massive pot of gold that is being chased so collaboration might be the way forward.

[oil be there] 11/2/2021 11:23

That would make sense rmart. Hopefully all will be revealed soon as POSP hits its 250 barrel target.

[rmart] 11/2/2021 11:15

I personally have a very odd feeling that Petroteq/Greenfield may become a 50/50 JV.


Greenfield need to go and find $180m ish to build a new 10,000 bopd plant. Petroteq need the expertise of Greenfield to make the current plant get to 5,000 bopd.

WOuld it not make sense for the 2 of them to go 50/50 and get the current plant to 5,000 bopd and then for this income be the guarantee for the finance for the new plant(s) of which they are 50/50 on all?

Seems a bit too obvous to me, but the comment on other leases may be the answer, maybe petroteq have the land available for multiple plants. Why would the want to become a bit part player when they could have 50/50 or even 33/33/33?

It may also save the $1.5m tomco put in for the new lease?

[ducky fuzz] 11/2/2021 11:09

I presume you do ...