Tomco Energy Share Discussion Threads

[lopodop] 11/6/2021 07:51

Mr Groach - you should unmute NOW and tell investors how and when the next round of funding is to be achieved ie NO SHOCKS. You are a chartered accountant and must be aware of the various criticisms of your leadership or more appropriately lack of leadership. If you are in any doubt read the corporate governance section of your report!

[vauch] 11/6/2021 07:08

Rocket you need to do like wise as you posted they are entitled to express their opinion

[lopodop] 11/6/2021 06:53

RMart
All the negatives you are pointing to NOW have been in existence for years and some on here have pointed these out time and time again. These are FUNDAMENTAL FLAWS which have been conveniently overlooked by investors.
Sensible investors have either steered clear or left. For those remaining a WHITE KNIGHT may be the their salvation - in time. Meanwhile the poor leadership, lack of information let alone sound information make TOM look rediculous by comparison to the management strengths of VALKOR and Petroteq. What precisely is going to happen when the tin is empty? If you know already tell investors and let's have detail. Otherwise ..........

[rocket26] 11/6/2021 05:22

Wind your neck in rmart, they're entitled to express their opinions, you don't own this BB nor are you their boss... Living virtually next door to the CEO doesn't make you the all knowing guru of this sham, it just means that you get spoon fed info as to when to get in and out...... which is not a good advertisment to new Pi's because your fickle sentiment echos that of the BOD, in which speaks volumes that this outfit is not for investing.... The words pump and dump spring to mind. Heads will roll

[rmart] 10/6/2021 23:29

Such sad pathetic individuals

[wilson2] 10/6/2021 22:32

A lie down is good for the brain and gastric track .You will lying down a lot soon my English brother

[goulding1215] 10/6/2021 21:20

Do that ducky, and in the knowledge that WTI is back above $70

[ducky fuzz] 10/6/2021 21:11

After all that thinking I will go and have a lie down. DF

[ducky fuzz] 10/6/2021 21:10

9 June 2021

TOMCO ENERGY PLC

("TomCo" or the "Company")

Greenfield Update : Conditional Site Purchase Arrangement

TomCo Energy plc (AIM: TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, is pleased to announce that Greenfield Energy LLC ("Greenfield"), the Company's 50/50 joint venture with Valkor LLC ("Valkor"), has entered into a membership interest purchase agreement (the "Agreement") with Endeavour Capital Group LLC ("Endeavour") and Tar Sands Holdings II LLC ("TSHII") with respect to the potential acquisition by Greenfield of up to 100% of the ownership and membership rights and interests in TSHII (the "Membership Interests"). TSHII owns approximately 760 acres of land and certain non-producing assets (the "Site") in Uintah County, Utah, USA.

Greenfield plans, subject, inter alia, to the completion of satisfactory due diligence and securing of the requisite funding, to use the Site, if ultimately acquired via TSHII, for the future mining of oil sands and construction of a commercial scale processing plant utilising the findings of the FEED (Front-End Engineering and Design) study, once finalised and the process independently verified, and other knowledge and experience gained from Greenfield's operation of Petroteq Energy Inc's existing oil sands plant at Asphalt Ridge, Utah. (the "POSP").

The Site has existing infrastructure, plant and equipment, together with an existing Large Mine Permit No. M0470032, that could facilitate any future development by Greenfield.

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 . Greenfield can exercise its right to acquire an initial 10% of the Membership Interests for cash consideration of US$2 million (against which the deposit shall be credited) on or before 1 September 2021. Following completion of the acquisition of the initial 10%, Greenfield will then have an exclusive option, at its sole discretion, to acquire the remaining 90% of the Membership Interests for additional cash consideration of US$15.25 million, if acquired on or before 31 December 2021, or US$16.25 million if acquired between 1 January 2022 and 31 December 2022. Greenfield has the right to unilaterally terminate the Agreement at any time during the initial 120 day period from its execution for no penalty save for forfeiting the upfront US$200,000 deposit. The Agreement also contains certain commercial and other representations and warranties between the parties customary for a transaction of this nature.

There can be no certainty that Greenfield's due diligence exercise will be satisfactory or that the required funding can be secured to complete the acquisition of a 100% Membership Interest and further announcements will be made as and when appropriate.

Commenting, John Potter, CEO of TomCo, 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."

========================================

Thinking about TOMco's potential need for money and people worried about another
equity fundraise.

I would think that when the following are announced ......

250 barrels of oil in a 12 hour period.
Good FEED study 3rd party results.
Details of cash received for sale of oil and sand.
Details of the land sale purchase. Recoverable barrels of oil etc ..
90 million dollar finance confirmed
Refund of money owed to TOMco by Greenfield.

..... then the share price should be significantly over 0.9p and the most recent
warrants will be cashed raising 5 million pounds.

[lopodop] 10/6/2021 19:08

MG is a director on Baronsmead VCT which takes stakes in newish businesses although US may be out of range. It is possible that Baronsmead may take a look at the GF offering with a view to some form of participation.

[vauch] 10/6/2021 18:59

I have also noticed that PQE has a 5% payment per barrel sold but not on the sand

[wilson2] 10/6/2021 18:43

All guns blazing, ha , you couldn't set off a sparkler

[wilson2] 10/6/2021 18:40

I think you'll find out in the very near future , you'll be the TIT

[wilson2] 10/6/2021 18:12

Giving you the impression I would buy on aces ramp is especially soothing that you believed that

[wilson2] 10/6/2021 18:07

Freedom, I admit that was an untrue statement, Tommy will never get another penny from me

[wilson2] 10/6/2021 18:03

185.000.000 rmart exactly what I said

[wilson2] 10/6/2021 18:01

Shush rmart you'll have to sell tomorrow 10 days is up

[lopodop] 10/6/2021 17:28

R Mart
How much cash does Tom have available?
Where's the next lot coming from.
Ask MG how he assesses the chance of raising funds for first POSP.
Ask MG the reason for RK's swift exit.
All very simple stuff.
Some former investors know the answers.

Why don't you stand as NED?

[rmart] 10/6/2021 16:51

Nice and steady Damac, let’s get the 250bopd confirmation and pre feed, it will go up . And let’s have the agm date! I am preparing my approach. Best get some good news/info out before or I’m all guns blazing along with a few others I suspect?

[damac] 10/6/2021 16:34

It was not to be. Hey ho, on to tomorrow.

[rmart] 10/6/2021 16:31

Ah ha , yes $ not £ , wilson clearly can’t understand the 40% difference and the fact it will be half that for the 5,000 bopd plant, there you go wilson, someone did it for you.

[ck1001] 10/6/2021 16:23

The Report estimates that the capital cost of the 10,000 bopd Plant will be approximately US$185 million, or US$18,500 per nameplate bopd. The capital cost is inclusive of all project management and engineering, all equipment and systems, site construction, start-up, and commissioning sufficient to have a fully operational oil sands plant capable of processing oil sands ore into high grade bitumen product. The Report assumes that for this design, contract mining will be used to provide ore to the Plant and the capital costs do not include the cost of land, leases and/or mining equipment.
From Pre-feed 16/9/20

[damac] 10/6/2021 16:16

Could we see a blue finish today?