Tomco Energy Share Discussion Threads

[vauch] 18/5/2021 13:12

You will not gat a tweet from this co if you look at the account they manage 1 to 2 a year.

[goulding1215] 18/5/2021 13:08

Don’t expect an rns tonight, because of time change between Utah and UK.

A tweet would be helpful though.

[goulding1215] 18/5/2021 12:44

Fishy 100% right. You and Damac did your bit, as far as share holders are allowed. You have been ignored.

[damac] 18/5/2021 12:39

Fishy,

I agree, the situation is becoming increasingly frustrating.

Things need to change and quickly. First one for me would be replacing the Nomad who appear to be operating outwith their appointment by insisting on how a listed company can and cannot promote themselves.


"The role of the nomad

The nomad assists a company through the admission process and is responsible to the London Stock Exchange for assessing the appropriateness of a company seeking admission to AIM. Once the company has been admitted to AIM, the nomad will continue to provide advice and guidance on all aspects of the AIM Rules. They will ensure that the Directors are aware of their continuing responsibilities and obligations. You must retain a nomad at all times while listed on AIM."


A Nomad has no authority to insist on how a company can promote itself other than advising on whether news being released is done so in line with the regulations i.e. if certain news is deemed 'price sensitive' then it must be released via an RNS.

If the current nomad is interfering in company matters of public relations to a detrimental effect (as appears to be the case), then we, the shareholders must request they are removed and replaced by a more competent nomad. Shareholders wishes on how a company promotes itself must take precedence over a nomad that has no authority on such matters other than regulatory compliance.

[ducky fuzz] 18/5/2021 12:22

Damac .. couldn't they grant a temporary short term extension to get the feed results done. DF

[ducky fuzz] 18/5/2021 12:19

Online 0.428p sell and 0.434p buy for 500k.

So 0.434p sells are buys. DF

[damac] 18/5/2021 12:15

rmart,

Sorry, I had to go out earlier. Replying to your post #18962


Yes, I hope they already have the necessary data from the Tar Sands II ore to complete the FEED. My concern is the upgraded plant verification by 3rd party engineers, in that we need POSP running for this to conclude.

If DOGMA are now insisting that Tar Sands II ore cannot be used for the demonstration process (despite them knowing from the 25th February that it has been used for this purpose since 11th January), then this needs rectified ASAP.

It currently looks very likely that Petroteq/Greenfield will have to return all Tar Sands II ore and waste arisings to the Tar Sands II site before the cessation order will be lifted, allowing POSP to be restarted and using ore mined from the POSP site.

Once that happens, Greenfield need to get the 3rd Party verification concluded then get the hell out of Dodge.

[goulding1215] 18/5/2021 12:03

Yes, Damac, more than likely. I think COVID19 will have created many such problems because of individuals working from home all the time. I think the Utah Gov, will react favourably. Apart from not taking any blame!

[fishyneck] 18/5/2021 12:01

Goulding,

I am always prepared for 'hiccups' along the way. I didn't expect a gentle path through to the end game (didn't see today's news coming though!) What is aggrieving me today though is the lack of any positive news from the last few months. They have been trialing ores, running tests on equipment, installing improvements, gathering data for the FEED. So are we to believe they have had nothing positive to furnish us with from these processes. We tried a few weeks ago to get the BOD to improve in their engagement with shareholders, it might have softened the blow today, however it is becoming increasingly obvious that we are to be kept at arms length.

fn

[damac] 18/5/2021 11:51

goulding,

I think that Petroteq (and subsequently Greenfield) has taken the granted extension of the permit from 1st March 2021 until July 2021 as approval from DOGMA to carry on bringing in ore from Tar Sands II.

The misunderstanding is either DOGMA failing to understand what was being requested for permit extension....until now.

or....

Petroteq/Greenfield failing to understand what conditions had been granted under the permit extension.

You would have that if DOGMA were so against the shipment of ore from Tar Sands II to POSP for processing they would have kicked up merry hell when finding out on the 25th February that it had been happening since the 11th January. Why didn't they instruct this practice to cease with immediate effect then? Why didn't DOGMA refuse to extend the permit until any Tar Sands II ore (and waste arisings) had been returned to the Tar Sands II site? Logic tells me that DOGMA have extended a permit without understanding the operations being requested under that extension.

[goulding1215] 18/5/2021 11:35

Reading damac’s posts regarding the official letters, my feeling is that Petroteq applied for permission months ago, did not receive a positive reply, with no reply, so presumed approval, work continued as requested by Petroteq. Someone in the DOGMA office probably returned to the office after working from home for months on end, and unearthed the request. However, without an approval from DOGMA, Petroteq presumed it had been approved. Carried on with the work. So, the fault probably lies somewhere in between. However, without aN official stamped letter of approval, Petroteq Should not have continued with the new ore. Valkor should have checked and seen a letter of approval, before using ore from the new site.

Fishy is quite right to demand explanations from the BOD. As co-owners of Greenfield, the TOM CEO should have had sight of approval from DOGMA for the continued work. When dealing with Government agencies you check, check again and then double-check. Looks As if everyone involved is culpable in one form or another.

The rns, as fishy said is a disgrace. Why hasn’t TOM changed NOMADS knowing the current NOMAD is a dork. Furthermore, as Vauch has suggested, why has TOM not started work on the next TURBOSHALE trial. It is ready to go. With 5 directors there are no plausible Reasons why this has not gone ahead. I have my thoughts as to why not, directed at one director.

GO ON RMART, a bargain at this sp!

[vauch] 18/5/2021 11:14

Next we will have report on the number of trucks on the road exceeding the daily amount

[vauch] 18/5/2021 11:13

It was due to covid. Is what the report will say

[haggismchaggis] 18/5/2021 10:25

Not the permit, the approved operational plan, which would have been approved by the same people.

[thesageofsaint] 18/5/2021 10:11

Yes the types that believe the story here are those that look to a potato in a wig to tell them when they can hug. The power of self subordination that affects so many weak minded people. To believe is safety to question is danger. That is how you are all taken advantage of. Dear me!

[lopodop] 18/5/2021 10:09

The positive step now for ALL shareholders is to appoint an admin receiver. There may be means to salvage some value and cash from what is left of Greenfield. Otherwise ....

[ducky fuzz] 18/5/2021 10:06

On the face of it, it seems that this all might be not TOMco's error.

[stuart little] 18/5/2021 09:52

Ah Sagey needs a pat on the back. Hugs are allowed now old boy.Fat lady not singing yet dude.

[rmart] 18/5/2021 09:52

strange, i cannot remember any of you predicting anything of this nature? You are just jumping on the opportunity to 'prove' you were right.

Non of this suggests the plant was not producing oil, nothing to say they were not close to finally announcing success. You are just jumping on a chance to gloat you muppet.