Tomco Energy Share Discussion Threads

[ducky fuzz] 01/6/2021 07:48

I think we will go into auction at 8 o clock while they sort out the share price.

[rmart] 01/6/2021 07:46

That rns sort of explains the 18.4m buy on Friday! Mmmm not saying anyone had a tip off of course! 🤣

[andy197180] 01/6/2021 07:46

Excellent news indeed. Faith restored. Onwards and upwards now.Glad i held.GLA

[jaynealex] 01/6/2021 07:46

I'm thinking ( hoping) if the Petroteq predator was a risk , and they know who it is , the nomad would have insisted on some sort of comment in the RNS

[jaynealex] 01/6/2021 07:42

That should drive a re-rating today !!

[freedom97] 01/6/2021 07:39

Excellent news!

"Oil of sufficient quality and quantity has now been produced by the POSP to enable an initial shipment of 250 barrels of oil to be made. Greenfield is also working with a local specialist firm to identify potential customers for the processed sand. They have already taken an initial load of 40 tonnes and is anticipated to take a further circa 500 tonnes of processed sand over the coming weeks. All proceeds from the sale of oil and sand will be retained in Greenfield."

Oh dear those idiots who were posting NO Oil will ever be found it's all a SCAM, will be very unhappy today.

[hotfinance14] 01/6/2021 07:38

Excellent news.

'Oil of sufficient quality and quantity has now been produced by the POSP to enable an initial shipment of 250 barrels of oil to be made'

The samples should be off to Quadrise this week.

[jaynealex] 01/6/2021 07:33

No more placings !!

[ducky fuzz] 01/6/2021 07:32

Plus the sale of the sand.

[rmart] 01/6/2021 07:31

Even just 250b per day for 6 months is $3m income plus sand sales, that gives them all of the cash back spent on the improvements!

[jaynealex] 01/6/2021 07:24

Would be nice to hear the lease was extended ...would give 6 months of cash generation , build up some working capital

Generate some cash and more testing before , raise finance for a plant ...if they can show , the plant producing oil , generating cash ... we'll get a better finance deal

Fingers x the global Oil field servicing company is the Petroteq predator

[ducky fuzz] 01/6/2021 07:22

Alarm call needed for damac, fn and SL.

[ducky fuzz] 01/6/2021 07:22

This must have taken our large holders by surprise .. very quiet here this morning.

[rmart] 01/6/2021 07:16

No MSAR mentioned? It seems to me like the improvements mean it may not be needed. More excellent news if so as saves cash per barrel.

[ducky fuzz] 01/6/2021 07:12

1 June 2021

TOMCO ENERGY PLC

("TomCo" or the "Company")

Greenfield Update

TomCo Energy plc (AIM: TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, is pleased to provide a further update in respect of the work being undertaken by Greenfield Energy LLC ("Greenfield"), the Company's 50/50 joint venture with Valkor LLC ("Valkor"), with respect to Petroteq Energy Inc's ("Petroteq") existing oil sands plant at Asphalt Ridge, Utah (the "POSP").

The Company has now received a draft of the FEED (Front-End Engineering and Design) study that has been previously outlined. This includes data from testing a number of items of additional equipment that could be utilised in potential future commercial scale plants, as well as reflecting input from a subsidiary of a leading global oilfield services company to further optimise the efficiency of the POSP's solids control process. Furthermore, significant work has been undertaken as part of the test operations and FEED study to identify how best to process the various types of ore that are likely to be encountered.

The FEED study will be finalised following the Company's and Greenfield's review with the third-party verification exercise on the process also nearing completion, with all planned on-site activities having been undertaken. It is therefore currently anticipated that the FEED study and the third party verification work will be finalised by early July 2021.

Further to the lifting of the Cessation Order on 25 May 2021 and resumption of operations at the POSP, the rate of production has been increasing such that Greenfield anticipates that it will shortly reach the targeted production level of 250 barrels of oil per day.

Oil of sufficient quality and quantity has now been produced by the POSP to enable an initial shipment of 250 barrels of oil to be made. Greenfield is also working with a local specialist firm to identify potential customers for the processed sand. They have already taken an initial load of 40 tonnes and is anticipated to take a further circa 500 tonnes of processed sand over the coming weeks. All proceeds from the sale of oil and sand will be retained in Greenfield.

In addition, Valkor, on behalf of Greenfield, is currently in discussions with the landlord of the POSP site to seek an extension to Greenfield's lease for a further six months from 1 July 2021. Should an agreement be reached, Greenfield would then intend to continue operating the POSP for as long as necessary in order to provide an appropriate demonstration site for potential funders of the planned future commercial scale plants.

Further updates will be made as operations progress.

Commenting, John Potter, CEO of TomCo, said : "Despite the short interruption from the Cessation Order, I am very pleased with the progress that has been made. Receipt of the draft FEED study and the production of the first load of oil for sale from the POSP are significant milestones for both Greenfield and TomCo. I believe Greenfield is now well positioned to move forward with sourcing the requisite funding for the potential construction of its first commercial scale plant and look forward to providing further updates in due course."

[vauch] 01/6/2021 07:12

And they also confirm sand is being tested for the sale of

[ducky fuzz] 01/6/2021 07:11

I've just read a positive RNS from TOMco .. I'm going to have a lie down.
Most unexpected.
This all getting very exciting.
My half full glass has just had a nice top up. DF

[rmart] 01/6/2021 07:07

Excellent rns. Well done JP.

Oh and is this the Petroteq buyer ‘ leading global oilfield services company’ ?

Very interesting, all cash from
Sales to be retained by greenfield! Also fantastic news.

‘Commercial Scale Plants’, so more than just 1 planned!

[vauch] 01/6/2021 07:02

Busa. you need to register with your broker for overseas trading, I had to with H-L
a few years back.
It also seems I could only buy on the Canadian exchange

[ducky fuzz] 31/5/2021 21:50

What makes you think that rmart ..

[rmart] 31/5/2021 21:49

TomCo turn this week

[busamitch] 31/5/2021 21:37

So in the UK, how do we buy LSE:0TB2 or OTC:PQEFF tomorrow?

[lopodop] 31/5/2021 21:05

DF
Best thing now move over to Petroteq. Perhaps TOM will go for it.

[ducky fuzz] 31/5/2021 21:03

Only gone up 500 per cent in a week or so .. Funny ole game this.