Tomco Energy Share Discussion Threads

[lopodop] 22/8/2021 16:16

Should the fund raising for Greenfield have faltered, is it feasible that Greenfield may be bought out by 'management' with Tomco retaining a 20% stake in the new venture plus repayment of its debt and investment.

Not quite what the doctor ordered but at least some form of intermediate result.

[talais] 22/8/2021 15:28

They are evaluating our oil, if they are impressed with the oil quality, and how cheap it is to produce they might want to invest, IMO Analysis of the produced oil has shown that the Basic Sediment and Water ("BS&W") was consistently less than 0.5%, the sulphur level was very low, at less than 0.5%, and the total hydrocarbon content of the processed sand was on average 1.8%. A sample of produced oil is being shipped to a large oil refinery owned by a major US oil company for their evaluation later this week. A three-barrel sample of produced oil from the POSP is also being shipped to Quadrise Fuels International plc in the UK, to enable them to assess the suitability of the heavy sweet oil produced by the POSP for their emulsion process

[ducky fuzz] 22/8/2021 14:55

Hi Tal .. what do you mean by our backer ..

I thought the major was potentially going to buy our oil. Nothing else.

[talais] 22/8/2021 14:33

Oil sent to oil major for testing,Should get news on that soon, could be our backer,gla

[lopodop] 22/8/2021 10:16

Goulding 1125
Incidentally Yes long term investor.

For better or worse the Board appears to have entered Tom into a 50/50 arrangement which the chartered accountants should know can be difficult to operate at the best of times.

In the absence of uptodate information as evidenced here, shrewd investors are probably concerned that problems lie ahead. Greenfield may come to a full stop. SB the man on the spot may feel disinclined to carry on the arrangement.
In which case SB may be willing to agree with Tom that Greenfield acts as a licensing corporation leaving the land and construction business for the big players. Not a bad deal for Tom which could generate decent income stream over time.
If this could be achieved, the market may be Impressed.
Placing imminent?? what's your take.

[ducky fuzz] 22/8/2021 08:44

Hi goulding .. I'm pretty sure they have the 10 per cent they need to pay. I am
surprised they haven't paid it.

I do not understand how complex / complicated the 110 million dollar deal is.

[goulding1215] 22/8/2021 08:41

DF how are they going to buy the land if they don’t have the finance in place first?

[goulding1215] 22/8/2021 08:36

No idea lopodop, however, they have a 50/50 agreement with Greenfield. Whether you like it or not.

What has rmart got to do with it? He does his own thing, nothing to do with anything you might say.

Incidently, are you a shareholder?

[busamitch] 22/8/2021 08:26

From maaaax91:



"The U.S. has only a month's worth of oil supply, says Dr. Jerry Bailey, chief executive of Utah-based oil company Petroteq Energy Corp. if production stops, the country would be plunged into an immediate depression because a vast amount of U.S. industries depend on the commodity."

[lopodop] 21/8/2021 18:45

Goulding 1215
How on earth can a project in UTAH be managed by a non engineer based here, which is overseen by a couple of part time accountant directors also based here.

SB must think TOM is crazy and also very generous. If he follows Beiden's example, he can walk away and leave TOM to sift through the remains.

RMART was singing TOM's praises until a few weeks ago.

[lopodop] 21/8/2021 18:45

Goulding 1215
How on earth can a project in UTAH be managed by a non engineer based here, which is overseen by a couple of part time accountant directors also based here.

SB must think TOM is crazy and also very generous. If he follows Beiden's example, he can walk away and leave TOM to sift through the remains.

RMART was singing TOM's praises until a few weeks ago.

[goulding1215] 21/8/2021 16:59

Surely they cannot announce raising of finance until DD is complete. It can only be arranged in principal, depending on the result of DD.

[lopodop] 21/8/2021 13:53

Shaunx
If investors learn the JV is in trouble, the price may drop to .30p ish but the Board will urge investors to support TOM on the basis that RF and the leases are the future, whilst they try to sort out some sort of fudge with GREENFIELD.
Naturally a placing or two will be necessary and investors face MORE long waits.

[ducky fuzz] 21/8/2021 12:50

Jay .. I don't think the Land purchase will do much for the share price .. I think
the biggy will be the 110 million financing confirmed. DF

[shaunx] 21/8/2021 12:24

Tosh, it's a JV raising a loan, if the market knew it wasn't good to go then we would be at 0.1p

[lopodop] 21/8/2021 08:57

Goulding1215
Had Greenfield successfully raised the funding itself, via Tom or both,then rule 11 implies this should have been reported by Tom to the market for very obvious reasons.
Likewise completion of due diligence on site and agreement for the purchase.

If there has been no market disclosure is the inference that funding etc is not in place and that the site purchase is not finalised.

Potter's trip to UTAH should not be taken as a positive. It could be a last ditch attempt to sort things out in GREENFIELD and a face to face meeting with SB for any number of reasons.

Unless shareholders receive relevant information through proper channels, then it is wise to be cautious and CONCERNED! One can only research what is available on record, not wild dreams and the speculations of others.

The share price is not suggesting anything positive and shareholders are poised for the worst but hanging on.

[the diddymen] 21/8/2021 08:46

Mixi you may be right (for once). I would have confidence in Stephen Byle but his job is to look after the interests of Valkor shareholders not TOM shareholders; unless it is mutually convenient.

[goulding1215] 21/8/2021 08:23

Jay, I think it is all in hand by the other half of Greenfield, who are based in Texas.

[goulding1215] 21/8/2021 08:19

I placed a question, so how would I know?. Logic says that with the deposit on the lease, finance, subject to DD on the lease, would have been arranged by Greenfield (Valkor)I have confidence in Stephen Byle, as a successful businessman in the USA.

[jaynealex] 21/8/2021 07:21

Well if this doesn't rerate when we buy the first 10% of Tar Sands II ...god knows what's going on here !!

[ajj2003] 20/8/2021 20:35

World domination awaits ;)Our mission is to power the American Economy through responsible resource development. As we already own patents for CORT in major oil sands markets across the world, learn about our Utah production facility: bit.ly/PQproductoverv...#pqeff #petroteq #cleanenergy

[lopodop] 20/8/2021 19:29

Goulding1215
When was the funding agreed?

[goulding1215] 20/8/2021 18:09

Lopodop, you keep going on about Rule 11 of AIM rules. How do you know this wasn’t done weeks/months ago? When the finance was agreed?

[ducky fuzz] 20/8/2021 18:05

He'll have to get back soon as someone has to make the AGM sandwiches and buy the booze.

[goulding1215] 20/8/2021 18:02

Is JP in Utah now?