Tomco Energy Share Discussion Threads

[rmart] 09/6/2021 08:15

surprising reaction !, sometimes you ust have to wonder what tom need to do !

[parsons4] 09/6/2021 08:11

This is one of the best RNSs I have seen from TOM ever, and there have been some really bad ones !! The main point here is that they have a fixed price, fixed time limits and in the meantime can carry on drilling and proving up the tech, very clever IMHO. Topped up this AM

[wilson2] 09/6/2021 08:07

Buying with no money , how does that work?

[jaynealex] 09/6/2021 08:03

So enjoy your hols and standby for Sept !!

[vauch] 09/6/2021 08:01

Rmart, we must also remember its a 50/50 so we only pay half, and tom could also use the money owed back from Greenfield, leave it in the pot

[vauch] 09/6/2021 08:01

Rmart, we must also remember its a 50/50 so we only pay half, and tom could also use the money owed back from Greenfield, leave it in the pot

[damac] 09/6/2021 07:58

Read between the lines in the RNS.

They will not make the $2m payment for the initial 10% of the company until September. They will not make that payment if they have not secured the funds for their own plant. Therefore the underlying message is that they anticipate having the plant funding secured by September.

[lopodop] 09/6/2021 07:58

Why no actual income / cost figures for Greenfield? How much cash left? Is Greenfield as structured a bankable prop? Must be placing imminent. JP neither accountant nor engineer. What does MG think and why did Kirchner go taking £32k? Wobble?

[vauch] 09/6/2021 07:58

In the meantime the POSP continues to produce saleable oil and sand and we look forward to providing further updates in due course as matters progress.”

[vauch] 09/6/2021 07:57

Commenting, John Potter, CEO of TomCo Energy, said: “I am delighted that Greenfield has secured the right to acquire, via TSHII, a suitable site for the potential construction, subject to funding, of its first commercial scale plant. The Site has the key attributes that our JV has been seeking and Greenfield will shortly be commencing detailed due diligence, whilst simultaneously progressing discussions with potential funders. In the meantime the POSP continues to produce saleable oil and sand and we look forward to providing further updates in due course as matters progress.”

[ducky fuzz] 09/6/2021 07:52

rmart .. where do you get 55m barrels from please.

[damac] 09/6/2021 07:51

To those that have asked, I understand the Tar Sands II site to contain approximately 55 million barrels of recoverable oil.

[freedom97] 09/6/2021 07:51

Well done JP and the Greenfield team very good move.

[rmart] 09/6/2021 07:40

Will this push is over a penny? Market cap would still be under £15m at a penny, with millions of barrels on this obviously suitable land and the fact greenfield will own it not be leasing it that is still a very very low market cap.

55m barrels under ownership with a proven method to produce and sand ales covering oil production costs, what is a real market value??

[hotfinance14] 09/6/2021 07:38

This RNS will give great confidence in the project. All parties in the JV
are doing a great job.

[goulding1215] 09/6/2021 07:34

Good post rmart. Sometimes people forget that TOM is in partnership with Valkor. They seem to think that TOM are working on their own. Look at the success of Valkor, and do you think they will have problem re finance? It is probably half- way there, which is why they have the exact figures for the purchase. It is another step closer, imho, for the big boys to start looking, now on everyone’s radar, for Joe Biden clean oil. Forget TOM, they are along for the ride. It is Greenfield and Valkor running the show.

[rmart] 09/6/2021 07:34

Directors talk have tweeted it with a link to this

[mikecoster] 09/6/2021 07:30

Absolutely no reason not to tweet this

[rmart] 09/6/2021 07:29

Actually my figures were wrong, I based it on 3 months whereas it is 4 months so income from oil would be $1.8m plus $200k already paid... = $2m Nicely done.

[goulding1215] 09/6/2021 07:27

It is another duck going up in line. You cannot produce oil and sand without a suitable site with lots of oil and sand. The POSP is working producing oil and sand. In my opinion very good news very badly written. When will the CEO learn how to write a decent rns.

[rmart] 09/6/2021 07:24

Yes Vauch, they would not have paid the 200k without confidence of the pre feed study being good enough to secure the finance for the plant.

And also without knowing there is enough ore to feed the plant for a 20yr life.

This rns gives us lots of insight into the confidence in the project.

[rmart] 09/6/2021 07:21

It’s Tomco, they always miss something out :-)

[vauch] 09/6/2021 07:20

Thats an 18 year site at 10000 a day for 300 days a year production