Tomco Energy Share Discussion Threads

[damac] 29/7/2021 00:56

Fenners66,

I believe Ed Stacey at Proactive Investors will be delivering a more detailed technical summary next week with all the new numbers confirmed by the FEED.
I hope he covers all the areas you have highlighted.

[fenners66] 29/7/2021 00:11

I Would need details like those and a whole lot more , before investing small sums in the company - let alone considering funding the , what $18m for land + up to $137.5m for the plant.

Are the logistics costed into that ?

As for cost estimates - without declaring what the test plant output was ?

By way of example , what was the original engineering estimate cost of HS2 ?
Estimates at this stage may bare no relationship to final cost.

[vauch] 28/7/2021 19:55

Hi Wilson so has the one I live in. just over 750k and all paid for 20 years back

[lopodop] 28/7/2021 19:16

SL
Why don't you come out of the bushes and admit to living in a dream world. The question for you is this: if Castro confirms the funding will not happen, what are investors supposed to do? You are the expert after all. Phone JP TONIGHT and try to get a straight answer.

[lopodop] 28/7/2021 18:52

RMART
why wait till end of August. If Castro has'nt got any positive news re funding NOW, AT THIS MOMENT OF TIME, it is not going to happen .. End of story.

In other words Castro should SAY NOW - NO FUNDING.

SO TOM cannot take this any further and must not. It is so blatantly obvious and the likes of DAMAC are in cuckoo land.

Stop all GREENFIELD spend and focus on recovering debt and getting some value for 50%.

Should the Directors carry on this fruitless quest, they will be wasting more investors money. Potter will spin this for all he is worth but get face to face with him and it will be perfectly obvious the game is up.

The one thing the directors are good for is paying salaries and rediculous payoffs.
They are wholly out of their depth which is why there is no information.
Ask SB and GS what they think of this bunch.

Investors should challenge the directors to appoint a receiver to investigate and take control of TOM. In any event GROAT and CASTRO are chartered accountants and very zealous of their reputations. They won't hang around for long if TOM has failed but investors should be wary about payoffs and of course young J POTTER will be in for £250k as a thank you.

RMART, is not JP one of your friends? Perhaps you should pin him down at last to 'clarify' what is going on. No time like tonight.

And DAMAC stop acting like a complete idiot and misleading people. Listen to Sage and bow your head in disgrace.

Finally ask yourselves what expertise JP has that is at all relevant to GREENFIELD - how on earth was he appointed to TOM AND GREENFIELD. How was GROAT able to stand by this appointment?

[rmart] 28/7/2021 18:50

Fair comment Damac, ignore the tramp , I am sure you do anyway.

[wilson2] 28/7/2021 18:34

Have you topped up vauch , house prices have gone up by 20%

[devon12] 28/7/2021 17:43

Thanks Damac

[damac] 28/7/2021 17:05

TomCo Energy delighted as it receives FEED study for Utah project

The study helps define the project's scale and economics and precedes the engineering, procurement and construction (EPC) phases of the project.

TomCo Energy PLC (AIM:TOM, FRA:NI41) said that joint venture firm Greenfield Energy has received the final FEED (Front-End Engineering and Design) study for production facilities for the proposed project in Utah.

It proposes a plant that would comprise an initial 5,000 barrels of oil per day train, configured to enable an expansion to 10,000 bopd. It estimates that the single train, for 5,000 bopd, would have a capital cost of around US$110mln.

Technical review of the existing pilot operation at the Petroteq Energy pilot plant resulted in indicative estimates for operating costs of around US$22 per barrel, based on 5,000 bopd,

“The FEED study outlines better economics for the proposed plant than we initially envisaged, together with verification that the proposed technical approach is appropriate,” said chief executive John Potter.

"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."

Greenfield now anticipates that the overall engineering, procurement and construction (EPC) phases of the project will take 54-62 weeks, beginning after the completion of the recently agreed transaction to acquire 100% of the Tar Sands Holdings II LLC.

[thesageofsaint] 28/7/2021 17:04

Hail Damac, the king of believers, once he spouteth consoling drivel, the acolytes can once again believe in the righteous plan. We love you Damac.

[thesageofsaint] 28/7/2021 17:01

You are a supercilious dope! Read what you have just written. Your arrogance and the absolute assuredness in twaddle you spout is rather pitiful. The self proclaimed 'owner of truth'. The mere fact that you own shares in this dead beat disqualifies you immediately from any credibility. You know nothing about business. This facade, one man band of a fiasco, will never get any funding other than from similar chancers and dreamers such as yourself. $110m rofl. Even the casual $16m for the piece of Utah dust deserves a lol. Neither are going to happen. The only likelihood is the placing I have told you is going to happen. This will provide the funds to pay for the land option to be deposited against deferring a 'decision' at until the end of next year ( why do you think this was agreed). They will then have 16 months or so to sit back and create the next story. You really are very very foolish.

[ducky fuzz] 28/7/2021 16:52

Great post damac .. many thanks for clearing up any confusion.

My glass is once again half full. DF

[damac] 28/7/2021 16:43

Rmart,

I want to clarify something that you have posted over on the other thread.

You stated the following:

"We all know everything rests on if Greenfield can get the finance sorted by end August. If they do then all is good, if they dont then its very bad news.

Why post everyday knocking the company? Why not just wait until end August? Then if they fail you can have a field day if you like."


Technically the above is not true in that Tomco will not have failed if they do not announce the $110m funding by end of August. Neither is it necessarily 'bad news' if they don't (I'll explain below).

The 'end of August' issue being now pumped by the clowns as fact has came somewhat from myself who previously stated my opinion and expectations that the company will have the necessary funding in place by the end of August. At no point has Tomco/Valkor/Greenfield stated that this will be the case. The clowns on the other thread are now hanging on the hope of my expectations not being met so that they can then use this as evidence that Tomco has failed to deliver and continue their smear campaign.


To explain why my expectation is that the funding will be in place by the end of August....


The 'Conditional site purchase arrangement' RNS from 9th June 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 . 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."



Therefore, assuming that all is well with due diligence, Greenfield will be looking to purchase the initial 10% of Tar Sands II by the 1st September. The money required for this is already in the bank and waiting to be used, no funding is required for the initial 10% purchase. The remaining 90% can be purchased anytime before 31st December 2022.

This is where you have to apply logical thinking, something the clowns on the other thread are incapable of.

Ask yourself the question....If you were controlling Greenfield, would you spend $1.8m purchasing 10% of Tar Sands II without knowing that you have an agreement in place for the follow on funds to construct & commission the plant? If you would, it would be a very large risk to take and not one that I think anyone in the Tomco/Valkor set up would consider.

Therefore, that is why my opinion, expectation, gut feeling (call it what you want) is that the 10% of Tar Sands II will not be purchased without agreement in place for the follow on funding. In my opinion, if Greenfield make the 10% land purchase by 1st September then it can be taken as read that the follow on funding has been agreed. The follow on funding may not be announced by 1st September (for whatever reason) and as such it would be stretch to assume that Tomco/Valkor/Greenfield has failed.

As always, DYOR.

[vauch] 28/7/2021 13:08

On my HL account they are showing 9.75p

[vauch] 28/7/2021 13:06

18 cents in Toronto.

[goulding1215] 28/7/2021 12:50

What is the share price of PQE now, Vauch? What currency are they quoted in on advfn, Vauch

[shaunx] 28/7/2021 12:23

Andrew haven't you got other interests?

[vauch] 28/7/2021 12:05

Rmart that is why i have been topping up PQE and have a large holding in both camps.

[rmart] 28/7/2021 11:50

yes, this is what is making zero sense to me. Over at Petroteq there is apparantly a buyer who wants to take over the company and improve the tech and produce hundreds of millions of barrels in Utah. They are offering mega premiums for the shares.

And here we have little old tommy who own 50% of Greenfield.

Greenfield are the only co to have a multisite licence for the USA. They can build as many plants as they like.

So why not buy Tomco for what would be a pittance compared to their offer for Petroteq? They could then turn the table on Petroteq by improving the tech anyway and then selling the improvements back to them.

It just makes no sense. Here we have Petroteq on the verge of a massive takeover and Tomco with a 50% share in a company with the very same tech and it cant even get to £10m market cap.

This is the reason I am sat on the sidelenes. It just seems there is something not right and it needs explaining by the BOD.

I appreciate that presently the BOD will be 100% focused on getting the finance so I hope they have had the common sense to approach Uppgard Konsult AB.

[sue999] 28/7/2021 11:32

I don't think any oil major / investor would want to give a piece of the action to TOM et al. They would just take over the lot.

[jaynealex] 28/7/2021 11:07

I don't fancy 3 !!

[rmart] 28/7/2021 10:38

Options for tommy. which would you think is most realistic?

1. Take on a partner, maybe an oil major (testing the oil ??) in Greenfield who finances the whole project for a 33% to 50% stake? Leaving tommy with 25% or 33%.

2. Finance/Bank Loan the whole thing with probably around 13% interest rates?

3. Sell out to someone and go for turboshale?