Tomco Energy Share Discussion Threads

[stuart little] 01/10/2021 15:36

I don't even know where to start correcting that one.

[rmart] 01/10/2021 15:31

tick back up, nice buys coming in now.

[rmart] 01/10/2021 14:45

Looks like it is starting today!

[fenners66] 01/10/2021 14:43

Why is 10% costing $2m ?
When the full price was supposed to be $17.25m i.e. 11.5% ?
Even at the expected price now of $18.25m it should be 10.95%

But what good is 10% for a year ?
What happens if they do not raise the other $16.25m

Lots of ifs and buts to get to that.....

[fenners66] 01/10/2021 14:40

Valkor and Petroteq were trying to get the very important CORT plant (POSP) working before the white knight TOM came along and spent $1.5m on getting it working.

Valkor were providing management valued at something like $375k

Whilst trials of the plant were struggling the other BB spent the time justifying the delay as a result of the state of the plant. Saying that it was in need of the refurb.

Now the same are saying that a plant not used for 5 years (?) is a valuable asset and justifies a massive cost.

Is that plant suitable for drilling oil as per New plan ?
It cannot be as the POSP

Surely even if it can be used for the New Plan it will need money spent on it....

That however is irrelevant to the New plan as the RNS states

"he third party would potentially provide sufficient funding to Greenfield to enable up to five wells to be drilled on TSHII's land along with the requisite infrastructure"

So I put it that any in situ plant is
1, Not going to be used for the CORT process.
2, Not going to be used by the mystery 3rd party who are providing their own

As for licenses does Valkors $144 an acre land not come with ?
Valkors $144 an acre has already had multiple drills so clearly HAS access.
Valkors land is supposed to be next door and possibly feeds into the same oil
Valkors land already has a report "Independent certifiers, Netherland Sewell & Associates, have estimated an OOIP of 141.7 million barrels ( mmbbl ), and Contingent Resources of 12.4 mmbbl of 2C.


Such a report we are told is key to financing the 5,000 bpd project.

I put it to you that Valkor have a potentially valuable asset planned (Now) to be exploited in the same way for a fraction of the cost.

[rmart] 01/10/2021 14:38

Lopodop, you know why as you are his pal are you not?

[rmart] 01/10/2021 14:37

I think buying will start again next week. The deal is still as transformational for Tomco as it was last week when we got into the.80s, 6 weeks max is nothing and now also with the extra interest in the deeper oil sands from another party it is actually even better. It will start to build again and next time we will pass a penny imo.

[ducky fuzz] 01/10/2021 14:35

I hope we get an RNS to put more meat on the bones of the last one, which was only for the cryptically inclined.

[stuart little] 01/10/2021 14:32

Kirchner was found wanting on many levels. Wasn’t up to the job, couldn’t be trusted to make a decent brew and called the whole project a charade. Off you pop....

Imo.

[lopodop] 01/10/2021 14:28

Why did Kirchner leave so suddenly? Why was he given effectively a year's consulting pay when he had left TOM?
Castro the replacement NED is reported to be an oil expert. If there had been, is something to question as to the land acquisition value, surely he would have flagged this up for the Board. One assumes JP handled the negotiations - who advised TOM FROM OUTSIDE as to fair value for the purchase and the price that appears to have been agreed?

[stuart little] 01/10/2021 14:24

Or even "their all so very dim"

[stuart little] 01/10/2021 14:24

"They're all so very dim"not "there all so very dim". I'm sure the irony will be lost on you

[ducky fuzz] 01/10/2021 14:15

Another mill buy gone through.

[chadwick123] 01/10/2021 13:57

Maybe some people on here should have a look at the infrastructure on the proposed site, it will be a little tired after a few years now, but obviously can be refurbished and modified to suit, lovely job for Valkor.

[damac] 01/10/2021 13:52

He also doesn't appear to have figured out yet that Greenfield are buying Tar Sands Holdings II LLC. The $18.25m (in total & if concluded between 1st January 2022 - 31st December 2022) being for the purchase of Tar Sands Holdings II LLC. The site being considered for the 5k plant being an asset of Tar Sands Holdings II LLC.



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 entered into a membership interest purchase agreement (the "Agreement") with Endeavour Capital Group LLC ("Endeavour") and Tar Sands Holdings II LLC ("TSHII") with respect to the potential acquisition by Greenfield of up to 100% of the ownership and membership rights and interests in TSHII (the "Membership Interests"). TSHII owns approximately 760 acres of land and certain non-producing assets (the "Site") in Uintah County, Utah, USA.

Greenfield plans, subject, inter alia, to the completion of satisfactory due diligence and securing of the requisite funding, to use the Site, if ultimately acquired via TSHII, for the future mining of oil sands and construction of a commercial scale processing plant utilising the findings of the FEED (Front-End Engineering and Design) study, once finalised and the process independently verified, and other knowledge and experience gained from Greenfield's operation of Petroteq Energy Inc's existing oil sands plant at Asphalt Ridge, Utah. (the "POSP").

The Site has existing infrastructure, plant and equipment, together with an existing Large Mine Permit No. M0470032, that could facilitate any future development by Greenfield.

[damac] 01/10/2021 13:32

Yep, Stuart, he is too thick to realise that acreage of a fully serviced plot (including roads, electricity & water), not forgetting the live mining permit which otherwise would take 12 months to achieve, and the proven resources in the ground cost substantially more per acre than any other lease that doesn't have any of the above in place.

As dim as a 2 watt bulb at midnight springs to mind.

[rmart] 01/10/2021 13:29

get ready with that delete buton ace, you will need it soon (AGAIN).