Tomco Energy Share Discussion Threads

[lopodop] 22/6/2021 07:35

Time for the sage to utter.

[lopodop] 22/6/2021 07:34

Time for the sage to utter.

[mikecoster] 22/6/2021 07:34

Not keen on the "vast majority" bit but we shall see

[lopodop] 22/6/2021 07:32

A lack lustre summary by Groach. He seems to be a part of the problem here. Tom needs dynamic leadership not accounting drivel. Valkor and Petroteq cannot be impressed nor is the market.

[goulding1215] 22/6/2021 07:31

Interims out.

[goulding1215] 22/6/2021 07:23

I doubt that would happen, Steven Byle is an experienced businessman, and the lawyers should have closed any loopholes. He will have been engaged at all the contracts.

[ducky fuzz] 22/6/2021 07:18

Be interesting to hear what damac and fn say.

[ducky fuzz] 22/6/2021 07:17

Hi V .. I would not have put it like that but I agree with the sentiment. DF

[fenners66] 22/6/2021 01:00

"Upon successful completion of the tender offer, the company will focus on its patents, technology, research and development, and increasing production."

I confess I have not kept up to date over the years here.
Having read recent posts I am guessing that the original technology for recovering oil did not work and now TomCo are instead using Petroteq patented tech on license ?

If its proven to work efficiently and there is a takeover of Petroteq, that means a change of ownership of the tech.
Does that have an impact on TomCo?

A lot of agreements have clauses which state that the agreement can be ended upon a change in ownership of one or either of the two parties.

Is that possible here?

[goulding1215] 21/6/2021 13:40

I would have thought that the higher the PQE SP, then that must drive the TOM price higher. Althoughly mainly sells on TOM today.

[vauch] 21/6/2021 12:50

NEWS PROVIDED BY
uppgard ab konsult
June 21, 2021, 10:51 GMT

"Uppgard Konsult AB update on its share purchase initiative for Petroteq Energy Inc (TSX-V: PQE, OTC: PQEFF, FSE : PQCF)

KRYLBO, SWEDEN, June 21, 2021 /EINPresswire.com/ -- Uppgard Konsult AB update on its share purchase initiative for Petroteq Energy Inc (TSX-V: PQE, OTC: PQEFF, FSE : PQCF)

Regarding Petroteq Energy Inc. ("Petroteq" or the "Company") (FSE:PQCF), Uppgard Konsult AB ("Uppgard" or the "Company") announces that on April 16, 2021, the company has made an official offer to purchase up to 200 million shares of Petroteq the company at 0.48 Euro per share cash from its shareholders, subject to Uppgard Konsult AB's terms and conditions.

The company announces that despite the premium price, Petroteq Energy Inc shareholders' approval in Germany of the takeover offer has so far fallen well short of expectations

For this reason, Uppgard Konsult AB has not been able to secure the intended takeover of the shares to date.

The customer and the company are now evaluating the official expansion of the offering to the North American market.

Petroteq Energy Inc. is a Canadian-registered, publicly traded company that is also listed on a U.S. stock exchange. As it is, its shares are widely held in Canada with a significant number of U.S. shareholders. This means that both the Canadian Takeover bid rules and the U.S. tender offer rules are triggered at the same time, and if the two jurisdictions have different requirements, the transaction must comply with the more stringent rules.

To this end, we are looking into strengthening the team and bringing in another consulting firm that has extensive experience and knowledge in the North American markets.

In order to comply with both Canadian and U.S. regulations, Uppgard Konsult AB and its client are now consulting with their legal advisors to prepare the next steps and necessary documents for Canadian and U.S. securities regulators.

Further to this to comply with the Takeover Code, the Client wishes to provide additional information about its plans for Petroteq Energy Inc. after the acquisition

Upon successful completion of the tender offer, the company will focus on its patents, technology, research and development, and increasing production.

To further earn shareholder confidence, the Company is preparing documents to demonstrate the financial resources necessary to support the proposed acquisition and the future development of the technology and expansion of the business.

In addition, we are reviewing the need to change the closing date, which must also be consistent with the minimum offer period for takeover bids in Canada and the U.S., and the need to disclose and provide additional documents and information as part of the early warning reports.

Safe Harbor Statement
This press release contains statements that the Company believes to be "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts, including, without limitation, statements regarding the investment offerings and the terms thereof, are forward-looking statements. When used in this press release, words such as we "expect", "intend", "plan", "estimate", "anticipate", "believe", "should", or the negative thereof or similar terminology are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Investors should not place undue reliance upon forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Roger Lars Vilhelm Uppgård
Uppgard Konsult AB
[phone]"

[vauch] 21/6/2021 12:36

You would have thought that they would just buy on the open market while the price is low.

[canny lass] 21/6/2021 12:24

Very interesting BM.
All looking positive.
Looking to extend the 0.48 offer to the Canadian market.

[busamitch] 21/6/2021 12:10

NEWS PROVIDED BY
uppgard ab konsult
June 21, 2021, 10:51 GMT

"Uppgard Konsult AB update on its share purchase initiative for Petroteq Energy Inc (TSX-V: PQE, OTC: PQEFF, FSE : PQCF)

KRYLBO, SWEDEN, June 21, 2021 /EINPresswire.com/ -- Uppgard Konsult AB update on its share purchase initiative for Petroteq Energy Inc (TSX-V: PQE, OTC: PQEFF, FSE : PQCF)

Regarding Petroteq Energy Inc. ("Petroteq" or the "Company") (FSE:PQCF), Uppgard Konsult AB ("Uppgard" or the "Company") announces that on April 16, 2021, the company has made an official offer to purchase up to 200 million shares of Petroteq the company at 0.48 Euro per share cash from its shareholders, subject to Uppgard Konsult AB's terms and conditions.

The company announces that despite the premium price, Petroteq Energy Inc shareholders' approval in Germany of the takeover offer has so far fallen well short of expectations

For this reason, Uppgard Konsult AB has not been able to secure the intended takeover of the shares to date.

The customer and the company are now evaluating the official expansion of the offering to the North American market.

Petroteq Energy Inc. is a Canadian-registered, publicly traded company that is also listed on a U.S. stock exchange. As it is, its shares are widely held in Canada with a significant number of U.S. shareholders. This means that both the Canadian Takeover bid rules and the U.S. tender offer rules are triggered at the same time, and if the two jurisdictions have different requirements, the transaction must comply with the more stringent rules.

To this end, we are looking into strengthening the team and bringing in another consulting firm that has extensive experience and knowledge in the North American markets.

In order to comply with both Canadian and U.S. regulations, Uppgard Konsult AB and its client are now consulting with their legal advisors to prepare the next steps and necessary documents for Canadian and U.S. securities regulators.

Further to this to comply with the Takeover Code, the Client wishes to provide additional information about its plans for Petroteq Energy Inc. after the acquisition

Upon successful completion of the tender offer, the company will focus on its patents, technology, research and development, and increasing production.

To further earn shareholder confidence, the Company is preparing documents to demonstrate the financial resources necessary to support the proposed acquisition and the future development of the technology and expansion of the business.

In addition, we are reviewing the need to change the closing date, which must also be consistent with the minimum offer period for takeover bids in Canada and the U.S., and the need to disclose and provide additional documents and information as part of the early warning reports.

Safe Harbor Statement
This press release contains statements that the Company believes to be "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts, including, without limitation, statements regarding the investment offerings and the terms thereof, are forward-looking statements. When used in this press release, words such as we "expect", "intend", "plan", "estimate", "anticipate", "believe", "should", or the negative thereof or similar terminology are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Investors should not place undue reliance upon forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Roger Lars Vilhelm Uppgård
Uppgard Konsult AB
[phone]"

[lopodop] 21/6/2021 10:21

Investors may have to accept that the Board as a whole is in "disarray" over what action is best for TOM's future. This tends to be the case with "weak" boards and generally results in poor confidence levels as is reflected by the market.

The directors really have to step on it to get things moving ahead and show some flair!

[ducky fuzz] 21/6/2021 08:29

Sells at 0.644p are buys.

[vauch] 21/6/2021 08:12

do we know what site capacity will be

[vauch] 21/6/2021 08:11

Makes you wonder where they will store the fuel at 250 a day or 500 on 24 hours

[hotfinance14] 21/6/2021 08:08

Hopefully we get news that we have reached 250 barrels per day.

[lopodop] 20/6/2021 20:21

AJJ2003
Yes much clarification required for investors to assess viability of path forward. The share price has stalled for the moment. How will Petroteq affect the position for TOM?

[ajj2003] 20/6/2021 19:10

We wait and see till the end of the month when the Petroteq situation may become a bit clearer...or not as the case may be.

Share price positive for me as well which is likely to be the kiss of death no doubt.

Onwards and upwards ;)

[ducky fuzz] 20/6/2021 19:02

I think next week will be share price positive as we finished doing well on Friday.

[ducky fuzz] 20/6/2021 19:02

The other question is what will PetroteQE do for cash.