Tomco Energy Share Discussion Threads

[jaynealex] 27/7/2021 07:50

Where's it going to open then ?

[ducky fuzz] 27/7/2021 07:47

Pre market buy of 500,000 should be a good day.

[ducky fuzz] 27/7/2021 07:39

That's a daft comment hot .. of course he is LOL.

[hotfinance14] 27/7/2021 07:38

Well done John Potter. Is Goulding still going to moan about communication ?

[ducky fuzz] 27/7/2021 07:34

I'm fairly thick and even I can see that the above RNS is part 1 of 3 RNS's that are fairly nailed on to happen.

Part 2 is the purchase of TSH 11

Part 3 is of course the 110 million dollar loan / financing.

Part 1 says that Oil can be produced at a cost of 22 dollars a barrel.

With oil selling for around 70 dollars this leaves Greenfield with a very significant
profit and then there is the sale of sand on top.

[keya5000] 27/7/2021 07:26

Stunning news for Petroteq & Tomco.

Significance of this is mindblowing.

Potentially the most important event in the USA oil industry in this millenium?

Really is a big event

[jaynealex] 27/7/2021 07:23

Hopefully we gain some share price impetus today

Confirmation of site purchase , and funding surely should come soon now

Then we'll have the wait for plant construction and in about a year the turn on and confirmation of 5000 bpd

So ...this will gain impetus , the traders will sell then we'll have the long wait for production

Unless we get a bid and get taken out

We're getting there

[vauch] 27/7/2021 07:22

Looks Like all the chat is on LSE TOM

[ducky fuzz] 27/7/2021 07:06

27 July 2021

TOMCO ENERGY PLC

("TomCo" or the "Company")

Receipt of Final FEED Study and Third-Party Technical Evaluation Report

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 now received the finalised FEED (Front-End Engineering and Design) study for production facilities, together with the associated third-party technical verification report on the proposed process, commissioned from Crosstrails Engineering LLC ("Crosstrails") and Kahuna Ventures LLC ("Kahuna") respectively .

Highlights

-- FEED study updated and finalised to reflect, inter alia, Greenfield's potential acquisition of up to 100% of the ownership and membership rights and interests in Tar Sands Holdings II LLC ("TSH II") for the potential future mining of oil sands and construction, subject to funding, of an initial commercial scale processing plant, as outlined in the Company's announcement of 9 June 2021.

-- The proposed plant is planned to consist of an initial 5,000 barrels of oil per day ("bopd") train but configured for possible expansion to 10,000 bopd via a second future train, with a total capital cost for the 5,000 bopd train estimated at US$110 million.

-- Subject to securing TSH II, which owns a suitable site in Uintah County, Utah, USA, and the requisite funding, the overall engineering, procurement and construction ("EPC") phases of the project are forecast to take 54-62 weeks, barring any significant supply chain issues or adverse weather conditions during construction and commissioning.

-- Third-party technical verification report by Kahuna involving a site visit to Petroteq Energy Inc's ("Petroteq") pilot plant and review of operating data, process simulation data and the FEED study, supports, inter alia, indicative operating costs of approximately US$22 per barrel of oil produced for a 5,000 bopd plant operating 24 hours a day, 360 days a year, before corporate costs, SG&A costs and royalty fees. Such estimated operating costs are deemed by Kahuna to be based on valid assumptions and in line with industry norms.

-- Greenfield is currently focused on completing the requisite due diligence on TSH II and its site in Utah, whilst also seeking to put in place the necessary funding package, as announced on 9 June 2021.

Further information on the FEED Study

As previously announced, Greenfield engaged Crosstrails, a Valkor company, to develop a FEED study for the production facilities for a 5,000 bopd oil sands project (the "Greenfield Plant"). The Greenfield Plant is currently intended to be located on a site to the west side of Vernal, Utah owned by TSH II as further detailed in the Company's announcement of 9 June 2021. The proposed plant is planned to consist of an initial 5,000 bopd train but configured for possible expansion to 10,000 bopd via a second future train.

The plant design will be configured to accept ground oil sands ore, available from the TSH II site, for loading into a closed loop process. The ore will be mixed with solvent in a continuous feed process and the sand will then be separated and dried with the vapor recovered in the backend. The liquid portion will be processed to remove the balance of solids and then the solvent will be recovered in the backend along with the other vapor. The final products of the proposed plant are designed to be sales oil, raw bitumen and a small diesel fraction, together with sand that meets the State of Utah's Department of Environmental Quality's Tier 1 Screening Levels.

The FEED study describes the design data, design requirements and general operating philosophies for the development of the plant, including a Class 3 (+/- 25%) cost estimate of approximately US$110 million, the detailed equipment requirements and the estimated timeline to deliver the project.

The finalised FEED study will be utilised as the basis for the EPC phase of the project and TomCo's directors believe that the completed FEED study, together with the supporting third-party technical verification report and recently completed testing operations at Petroteq's pilot oil separation plant, serve to provide a high level of confidence in both the potential economics and the technical feasibility of Greenfield's plans.

Commenting, John Potter, CEO of TomCo, said : "I am delighted the finalised FEED study has now been received, together with the associated third-party technical verification report. The FEED study outlines better economics for the proposed plant than we initially envisaged, together with verification that the proposed technical approach is appropriate.

"Greenfield's focus remains firmly on completing the requisite due diligence on TSH II and its site in Utah and progressing the necessary funding package in order to, inter alia, pursue construction of an initial 5,000 bopd facility at the earliest opportunity. These are very exciting times for TomCo as we look to realise Greenfield's significant potential."

[lopodop] 26/7/2021 19:24

Is it the case that GREENFIELD is almost exclusively operated and controlled by SB notwithstanding that on paper TOM holds 50% of equity?
Perhaps RMART will have been told this by JP and so Groat and Potter have to play second fiddle whilst SB decides how he wants to play things.
All Tom could hope to achieve is some sort of agreement to allow SB to take over the whole business for an instalment consideration plus eventual repayment of the loan. Thus Tom is a partner in Greenfield officially but not in reality and the dream of fortunes to be made becomes somewhat hollow.
Of course this is supposition. But it may if true explain why TOM investors receive so little news.

[the diddymen] 26/7/2021 10:25

Eh Mixi looks like you might be sufferingt from Alzheimers also (from the other thread):

goulding121522 Jul '21 - 18:08 - 20954 of 20981
0 0 0
Must be Alzheimers he is suffering from.

Vauch22 Jul '21 - 18:47 - 20955 of 20981
0 2 0
All I have to say on the subject, is why anyone cares what Wilson posts is beyond me

Canny Lass23 Jul '21 - 07:54 - 20956 of 20981
0 0 0
Apologies off this Board.
Goulding 1215
Just noticed that you too, are also a casualty of EEL.

goulding121523 Jul '21 - 08:10 - 20957 of 20981
0 0 0
Long gone and forgotten.

Do you add EEL to PET, CICC and TOM?

[goulding1215] 26/7/2021 09:24

They probably sent it from Los Angeles

[lopodop] 26/7/2021 09:03

Investors are impressed!

[wilson2] 26/7/2021 08:58

Millions to be invested, but still haven't had a pint of oil tested yet

[hotfinance14] 26/7/2021 08:39

Well done duckyfor posting the schedule.

Quadrise has still not received the samples which us annoying.

[lopodop] 25/7/2021 20:10

JOHN POTTER

A number of experts on this board APPEAR TO indicate that positive vibes are being gleaned from unspecified sources - perhaps persons closely connected to the business.

In your capacity as Managing Director why do you not wish to signal to investors generally that very positive progress is being made. You could buy shares in TOM as indeed you did in REFORM. And so could your chairman. What are you both afraid of?

Alternatively why not release some general update about TOM and GREENFIELD? The share price if all is progressing satisfactorily should be in excess of 1p at the very least. Why is it so stagnant? What, where is the problem?

Investors are entitled to form judgements and to try to work things out for themselves when there is an almost news blackout. If the technical bit is going well which is the most important part, the funding may take time of course, one could reasonably conclude that there is dissention at board level - whether to sell out now or press on. With investors' money at stake, what the hell are they supposed to do?

[lopodop] 24/7/2021 17:48

BT
Inveterate investors since DAILY MAIL days have come to expect either no news or bad news and are nursing quite significant losses. Many may tell you that they only expect board changes with handsome payoffs, placings, and long periods of news blackout.
What on earth Groat and Potter do is a mystery but in line with established practice neither will leave empty handed.
Whatever the experts say on here is best tempered by reminders of the apalling track record of this entity so it MAY be preferable to expect the worst and adopt unshockability.
Therefore as you indicated previously best to go right away and forget old TOM for a few months.

Also remember people here talk as though TOM owns Greenfield. It holds a meagre 50% and Greenfield owes TOM a lot of money. Of course the arrangement could be very beneficial in the longer term if the tests and funding are successful and the Valkor / BYLE relationship remains workable, which is why investors hang on.

But is TOM's management team expert enough to succeed in taking forward a very tricky 50/50 venture where undoubtedly control is weighted towards Valkor because of their record and substance? Any more board bust ups at TOM will NOT do investors any favours. If the share price was currently above 1p, there would be some comfort and this might be helped by Groat and Potter buying in this week. Most self respecting chairmen take pride in an ascending share value - why therefore is Groat content to let the price fall?

May be he is fearful of the downsides, does not have engineering expertise personally etc, and he would prefer to sell TOM's 50% and de risk ASAP. Optimists here will say rubbish - the market however continues to be hesitant and fearful - how can it be otherwise if Groat and Potter show not the least tangible enthusiasm. Just commonsense and realism.

[ducky fuzz] 24/7/2021 16:12

Just a reminder as to the news we are expecting during the next 7 days.

[bungeetrader] 24/7/2021 16:07

No, just wondered why.

[ducky fuzz] 24/7/2021 15:23

Hi BT .. just cos it got lost in the clutter.

Would you like me to delete it ..

[lopodop] 24/7/2021 15:20

BT
You have returned again.
DF is full of self importance and he believes his contribution is most valuable so why shouldn't he repeat and repeat...but it will not change TOM's fortunes in any direction.
Quite hilarious!

[bungeetrader] 24/7/2021 15:09

DF, any particular reason you're posting the same thing you did 6 days ago?

[talais] 24/7/2021 14:52

https://pbs.twimg.com/media/E601L7sVIAIjeVg?format=jpg&name=medium

[talais] 24/7/2021 14:52

https://pbs.twimg.com/media/E601L7sVIAIjeVg?format=jpg&name=medium