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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tomco Energy Plc | LSE:TOM | London | Ordinary Share | IM00BZBXMN96 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0275 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Drilling Oil And Gas Wells | 0 | -2.35M | -0.0006 | -0.50 | 1.07M |
Date | Subject | Author | Discuss |
---|---|---|---|
01/9/2021 09:37 | Note, the RNS says: "The Agreement has been amended such that Greenfield can now exercise its right to acquire an initial 10% of the Membership Interests for cash consideration of US$2 million on or before 1 October 2021." So, it is possible they could complete the DD etc., well before 1 Oct. So strange that some sold today, when could get RNS next week... | freedom97 | |
01/9/2021 09:33 | Market responding appropriately. | the diddymen | |
01/9/2021 09:33 | Lopo, SoS is on the money on the other thread. Until TOM have a credible plan (they have a plan) they will not be able to raise the working capital that they need. They have bought 4 weeks. For the plan to be credible it has to be stand alone, ie it can be delivered by the management 'team'. If it cannot, then why should any major (wildly fanciful) get involved. They can just wait for the insolvency and then pick up the pieces. The problem is that they have to build the 'team' with no certainty of cash. Only caveat to the above is that sometimes insolvency clauses can protect a company - if TOM have been clever they could have put in clauses which make it a 'buy' or a car crash. | the diddymen | |
01/9/2021 09:17 | Yes,Damac, reserves to be verified. Are you saying that apart from the CORT site, Petroteq do not yet have a reasonable site ready, for production, like the TS2 site? | goulding1215 | |
01/9/2021 09:09 | Whilst you are at it, please decipher this section for the plebs who cannot read and rely upon your mastery of the detail:"Greenfield's focus is now on both progressing the necessary funding package in order to, inter alia, secure the initial 10% Membership Interest and with the detailed planning to pursue construction of an initial 5,000 bopd facility at the earliest opportunity" | thesageofsaint | |
01/9/2021 08:54 | Old Damac has been adamant and was even banging the drum yesterday, that the cash was in the bank waiting to be used for the deposit. I was telling you they do not have it and low and behold it is confirmed today. Written in clear prose that they need to arrange the necessary funding 'inter alia to secure the initial 10% membership interest'. As clear as day. And where is this coming from, from more dummies who will be seduced into the Venus trap that is being a Tom shareholder, ie yet another placing. Go on Damac the great one, show some humility and accept you are wrong and you were misleading yesterday as I told you you were. This is how fools like Goulding lose money by listening to you. | thesageofsaint | |
01/9/2021 08:44 | TD Reform Energy Plc ICVL LEAD BY POTTER. Same thing - bit more time please, more money, on and on until he had to be stopped. Put the audit partner in a very dangerous position and caused financial damage to tune of £7million. This looks as though same approach. Come October another $100,000 please - it will be ok. Is Potter handling this alone - are non execs watching what is happening ? Of course they will blame and sack him. Quite possibly the non execs are too busy with their other interests to get involved. Investors do not see the approaching perfect storm! | lopodop | |
01/9/2021 08:40 | Like Rumpelstiltskin, you can spin straw into gold or at least in your heads. This is a tragic RNS. They do not have the money to pay the 10% and need to raise funding. If they were going to walk away they would not have sunk another $100k they are never going to get back. But they desperately need this land deal deposit. You see, the whole fabric of the story is falling apart. Whilst it is a sham, the are still required to keep some semblance of order. They cannot raise money via a placing without some basics in place and the nomad and brokers have some essential requirements ie the cannot simply bare-face lie. The have lost their operations partner who walked away. Fact and no spin to the contrary. The reason why they are in contact with a new operations company is that the story needs some semblance of competence. That you think they are in advanced stages of $100m loan being arranged, is demented. Look how hyperbolic your reasoning has now become to justify your continued positivity. The only thing they are trying to do is secure a 10% stake in some land so they can take a breath for a year or so. This will enable salaries and the can kick for the necessary time. But the wheels are coming off and even Tom, the master of placing shares supported by BS, is struggling with this one. | thesageofsaint | |
01/9/2021 08:18 | Looks like everything is OK if I read the other thread correctly. Then no inhibition whatsoever on the Directors stumping up for their share or two. Look forward to the RNS. | the diddymen | |
01/9/2021 08:15 | The following comment suggests to me that the potential lenders have requested a Site Reserves Report. And again means that due diligence is being undertaken not just to satisfy Greenfield but also lenders. “Additionally, in parallel with working to secure the required funding, Greenfield has recently begun working with Stantec Inc, a global design and delivery firm with extensive experience in the oil and gas and mining sectors, on mine planning for the Site, and with Netherland Sewell & Associates, global petroleum consultants, on a Site reserves report, together with other preparatory work.“ | damac | |
01/9/2021 08:08 | Fenders, your post #21783 Reply potential others interested parties for the TS2 site. Petroteq are in need of a new suitable location, they have virtually no mineable suitable resource on their current site. With Petroteq’s having the technology perhaps Valkor/Tomco/Greenfi | damac | |
01/9/2021 08:06 | Sounds like the full package is being assembled to me. Will assist in preferential terms for the finance when the final numbers come out in our favour ;) | ajj2003 | |
01/9/2021 08:02 | That is my impression too. Just need to successfully complete due diligence for all systems are GO. Of course remembering that delays on the POSP, Delaying the Valkor engineers going to the new site to commence due diligence will have created delays down the line. | goulding1215 | |
01/9/2021 08:01 | They might also be waiting for results from QFI on oil samples | talais | |
01/9/2021 08:00 | RM and SL HERE's the challenge - if Potter really believes this is not a smokescreen tell him to put this months's salary into TOM shares today and confirm. Likewise get him to tell Groat and co to do likewise. Then all will know whether it is game on or off - no more dithering. Each can stand up in AGM to confirm or resign. | lopodop | |
01/9/2021 08:00 | After reading the RNS multiple times this morning I am convinced that the main reason for the one month extension is to complete the due diligence. There are a couple of references in the RNS to it being incomplete. If this is the reason for the delay then I am happy that the board are applying proper diligence in their undertakings. “Whilst still ongoing, the due diligence undertaken on the Site to date has been positive such that it appears ideally suited for the construction, subject to funding, of Greenfield's first commercial scale plant.” And again……. “Greenfield is in advanced discussions with potential off-takers of both oil and sand from the Site and the results from the due diligence exercise, that is substantially complete, have so far has been positive. However, there can be no certainty that the due diligence exercise will ultimately be concluded or that Greenfield can secure the required funding to complete the acquisition of a 100% Membership Interest.” | damac | |
01/9/2021 07:55 | Greenfield is in advanced discussions with potential off-takers of both oil and sand from the Site ADVANCED DISCUSSIONS. Looks like the major oil company was happy with the samples. | rmart | |
01/9/2021 07:52 | Regarding paying for the 10% if the share price can move just above 1p then the warrants would cover it and some | vauch | |
01/9/2021 07:50 | Goulding1125 MORE UTTER DRIVEL! KEEP IT UP. | lopodop | |
01/9/2021 07:44 | Well, I am sure that these other companies would not be in negotiations with TOM/Greenfield if they were not confident of a successful out come of the finance. It is not a good idea to have set dates for these ventures. What is 1 month in TOM’s Life-time. | goulding1215 | |
01/9/2021 07:44 | Come on SL - do you really believe this is going to happen? Just more time and money wasted. There can't be much cash left in the tin. Groat and co are BUYING TIME to get past AGM. By way tell your esteemed colleague that I could not have been fired as I have never been in TOM. PITY as might have received an over generous pay off for nothing. | lopodop | |
01/9/2021 07:39 | Yes, lining up the customers for the oil and sand, lining up the finance, completing the due diligence all before parting with the £1.5m. Very very sensible and professional management. | rmart |
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