Tomco Energy Share Discussion Threads

[fenners66] 29/9/2021 09:51

"stuart little
29 Sep '21 - 09:50 - 22901 of 22901

What about potential longer term revenues from these 5 wells aside from repaying the $1.5m? Market would be interested in that!?"

and just quietly forget all about CORT ?

[stuart little] 29/9/2021 09:50

What about potential longer term revenues from these 5 wells aside from repaying the $1.5m? Market would be interested in that!?

[fenners66] 29/9/2021 09:50

Given the delay to finding the deposit , can we assume there is little possibility of paying the 90 % by 31-12-2021 ?

In which case a delay will cost another $1m

or alternatively there will never be a purchase of the 90%...

[wilson2] 29/9/2021 09:49

Why didn't they drill wells in the first place instead of building a tin shack of a plant, excuse after excuse .How often do they meet to think up another whopper

[rmart] 29/9/2021 09:45

that is the reason for the delay. nothing more. cash to drill 5 wells PLUS enough UPFRONT funds to aquire its stake.

Paperwork my dear friends, paperwork. the deal will be agreed.

The drop is purely day traders, good riddance to them. Big buys coming in now.

[rmart] 29/9/2021 09:43

The potential partnership would give Greenfield funds to drill five wells on the land along with associated infrastructure plus enough upfront funds to acquire its stake in the property with the advance repaid from oil sales proceeds.

[stuart little] 29/9/2021 09:41

If near term production via the deeper zones becomes a reality then this is clearly excellent. John hasn't, in my opinion, portrayed this potential very well - if at all! Once again scared to step over a line of regulatory misconduct whilst keeping 100yards behind it!

[rmart] 29/9/2021 09:41

and now NT only to buy on IG

[goulding1215] 29/9/2021 09:40

I thought this was a very good practical post from LSE, I hope hé/she doesn’t mind. Too late now.

Why would we pay for it when somebody else is willing to? We can keep that money for other expenses. We’ll have an off take agreement which means we’ve suddenly produced an income. After the money is paid back to the company we would have oil and a company across the street that has purchased our oil before and no reason they won’t purchase again? Big deal in my view.

[fenners66] 29/9/2021 09:39

Lets contrast:

TomCo Energy PLC Receipt of Final FEED Study and Third-Party Report 27/07/2021

"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"

i.e. $110m

with

TomCo Energy PLC Further Update re TSHII 29/09/2021

Greenfield is exploring various other funding options to potentially achieve the acquisition of 100% of the Membership Interests, whilst continuing other preparatory work. However, there can be no certainty that Greenfield can secure the requisite funding.

i.e. $2m

Goalposts well and firmly moved.....

[wilson2] 29/9/2021 09:39

Sounds like a very expensive membership, do they beer chits at Christmas?

[freedom97] 29/9/2021 09:32

Just because they extended to 15 Nov. does not mean they won't conclude the deal a lot earlier. They could possible get the funding much sooner. The 15 Nov date is just to give more time in case it takes more than a couple weeks to get funding.

Also, don't forget that the $500k deposit paid is credited against the $2m, so only $1.5m to pay.

"As previously announced, the deposit, now totalling US$500,000, can be credited against the US$2 million cost of acquiring 10% of the Membership Interests"

[goulding1215] 29/9/2021 09:31

Correct Joe. Well, the only negative news is a 6 week delay. What is 6 weeks in TOM’S history. I would suggest the delay is only down to paperwork from solicitors and accountants. It did say ‘on or before’ in the rns.
However, surely, the rest is good news? Tom get a gift of $1500000 or $2,000000. Definitely good news, no debt and no placing. Out of interest, Damac, will TOM get back their $500,000 deposit? Plus they will get royalties from their new partner. Overall seems like good news. Who cares about day traders? Not me.

[rmart] 29/9/2021 09:29

They have simply extended to see if this party come up with the cash. It’s not a big deal. The 10% will go ahead either way. It’s just not good for 48hr traders, simple as that.

For the business and the project it is excellent.

[rmart] 29/9/2021 09:29

Double post

[hotfinance14] 29/9/2021 09:24

Stuart...when they keep extending the deal date credibility drifts and thus the share price drop

[fenners66] 29/9/2021 09:23

I ask the gamblers ...

Was a 6 week delay what You were expecting?
Was another unnamed company drilling on the land what you were expecting?
Why unnamed?
Were You expecting to pay another $200k without a guarantee?
Were You expecting a land purchase this week using the funds already set aside and on hand ?


Now what does the ultimate finance company for $110m+ make of that ?

[fenners66] 29/9/2021 09:17

Now the longstop date for the land deal , starts to have relevance....

It appeared to be a red herring , perhaps they are smart enough to anticipate the failure to find the balance....

That would mean that $2m is a rental through to ...


"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"...


December 2022.
It could take until then to get a drill together.....

So what then $2m paid for ...... ? A 10% interest in someone else's operation ?
Non operation ?

Overarching question WHY get involved in an "Option" in the first place ?

Now locked in , cash spent , will never be returned and no further on....

[the diddymen] 29/9/2021 09:13

Don't worry reichsmart no one will know that you have sold. Just keep posting. Eh!

[joeblogg2] 29/9/2021 09:13

Life has never been straightforward with Tom :((

[the diddymen] 29/9/2021 09:12

I might be dropping the range for the next placing, perhaps down to 0.3 to 0.25.

Just a reminder to the deluded that good news is served immediately, bad news is delayed as long as possible. QED.

[stuart little] 29/9/2021 09:10

6 weeks to conclude a deal to prevent dilution to existing shareholders is hardly very negative but I agree not good enough for the market today.

[fenners66] 29/9/2021 09:09

"stuart little
24 Sep '21 - 14:25 - 12532 of 12776

As you rightly pointed out a while ago, I think the price was about .45 (you really should have been joining in the buying) the market doesn’t lie. it is pointing to a positive outcome on the land deal. Rumour is a very positive outcome! Look forward to chatting next week."

"The market doesn't lie"

I argued yes it does.
So either you stick to the line , given the actual news not the rumour or you agree , which now?

Rumour does not buy a CORT plant.
Now we know it does not even buy a land deposit in 5 months....

Still you had a paper profit so who cares ?
Did you cash in ?
Or as I previously asked , wait for the big rise and hold through news?

[hotfinance14] 29/9/2021 09:07

What this RNS has done is given a bit of good news then some very negative news on extending the deposit financing date. As i say I can see the share price going down over 20%.

[stuart little] 29/9/2021 09:06

Jay, I get that and have remained invested. I want something solid, real progress. Not 'further discussions', 'potential funding'. Yes this could be great news for the project but we've had years of potential! Got to be delivered on!