Tomco Energy Share Discussion Threads

[wilson2] 09/6/2021 09:18

The plants estimated cost is £180.000.000

[rmart] 09/6/2021 09:17

Ha ha wilson, losing the plot, lovely.

[enewman36] 09/6/2021 09:16

People are selling because of the worst word in the micro cap investing world is plastered throughout the RNS, and that is funding, and the majority of the the time this equates to a heavily discounted placing, so people don't want to get caught out, sell now, wait for the drop and buy back, simple economics.

[damac] 09/6/2021 09:15

For anyone struggling with the basics, and failing to understand how Greenfield could possibly buy the company holding the land without having any ongoing income until their own plant is built and producing the oil and sand:

1. Tomco allocated £1.5m from the last placing specifically to go towards securing a suitable site. This money was loaned to Greenfield on an annual 6% interest rate and due to be repaid to Tomco within 2 years from the date of advance. That money will now be used by Greenfield on the initial purchase.

2. Any money required to purchase the remaining 90% of the company holding the land can be included in the the finance deal being sought to secure the funds to build their initial plant. For which they are currently discussing with multiple potential lenders.

3. Any funding taken on by Greenfield for buying the remaining 90% of the company holding the land or required for building their own plant, will NOT result in any dilution to Tomco shareholders. Greenfield may opt to give up some equity to any lender but that will not be at the expense of more shares issued in Tomco.


It is not rocket science.

[wilson2] 09/6/2021 09:05

1p then 2p 5p then 10p

[wilson2] 09/6/2021 09:02

Buy some more Goulding

[goulding1215] 09/6/2021 09:01

Let’s just hope that these are weak holders selling. Selling? I query their IQ.

[wilson2] 09/6/2021 08:59

What cash flow? They produce nothing, they own nothing, what bank manager would lend money to an worthless company like Tomco?

[damac] 09/6/2021 08:54

goulding,

That is correct, payment for the remaining 90% can be on an incremental basis or a one off payment. Good to have options to work around forecasted cash flow.

[wilson2] 09/6/2021 08:53

Freedom suggests a bank loan, why would they need a bank loan producing 10.000 barrels of oil a day?

[freedom97] 09/6/2021 08:51

Greenfield will most likely be seeking a bank loan and banks would most likely ask for a 90 day DD which Greenfield have put in place.

[goulding1215] 09/6/2021 08:49

Another point, the money doesn’t have to be paid in one lump sum, BUT, by end of...so, it can be paid in installments, whilst producing oil and sand. It is a great deal.

[wilson2] 09/6/2021 08:48

Tomco directors the first to book expensive holidays on rmarts ramping

[wilson2] 09/6/2021 08:46

How many more shares will be needed to pretend to buy this land

[lopodop] 09/6/2021 08:46

Directors love Tom investors. Why? After long silences, give them a third rate RNS and they rejoice. Then the penny drops!

[goulding1215] 09/6/2021 08:44

Thanks for explanation, Damac. The problem is that selling is based upon sellers thinking that TOM have to raise their half of money, through a capital raising. I know it doesn’t say that.It needs to be emphasized that TOM are not raising the money on their own but through Greenfield. I know some investors are just thick and sell on one deramping post.

An update on 250 bopd would be welcome.

[wilson2] 09/6/2021 08:39

And ace has left the building, haha

[wilson2] 09/6/2021 08:37

Pursuant to , means nothing

[damac] 09/6/2021 08:33

The RNS states...

"Pursuant to the terms of the Agreement, Greenfield has paid a non-refundable deposit of US$200,000 to secure a 90 day period to undertake due diligence and an exclusive option for up to 120 days to acquire an initial 10% of the Membership Interests"


Whilst they are of the understanding (as are we) that the site contains approximately 55m barrels of recoverable oil, they have to conduct the proposed transaction in the correct manner by carrying out the due diligence to completion. All going to plan and with due diligence not throwing up issues, you can therefore expect confirmation of the estimated recoverable resources on site at the end of the due diligence period (which wont take 90 days if they are taking on 10% by 1st September) when they announce they are proceeding with the initial 10% purchase.

[rmart] 09/6/2021 08:29

it does you fool

[wilson2] 09/6/2021 08:27

Why not make sure the plant works properly before handing money over , and end up with hundreds of acres of arid land

[rmart] 09/6/2021 08:25

no oil amount on the land in the rns and no site life. why not? Sadly another example of no detail from the BOD.

55m barrels of oil in place, 20 yr mine life at 10,000 bopd and the share price would be well up. DOh!

Still, it may finish blue.

[damac] 09/6/2021 08:21

They have to be pre arranged sale orders going through this morning without the knowledge of this RNS appearing surely? You have to be brain dead to be selling this morning after reading the RNS.

[damac] 09/6/2021 08:17

To consider the situation that Greenfield are now in.....


In normal circumstances any company wishing to use the PQE CORT plant would have to pay:

1. A licence fee to PQE of $2m per plant constructed.
2. Royalty payments to PQE from the sale of any oil & sand produced by each plant.
3. Royalty payments to the landowner of any lease that plants are operating on.


What have Greenfield got:

1. A multi-site licence bought from PQE at one off payment of $2m.
2. Royalty payments to PQE from the sale of any oil & sand produced by each plant.
3. Potentially owning land instead of leasing which means no future royalties to a landowner on all oil and sand produced and sold on an estimated 55m barrel site.


Great piece of business by Greenfield.