Tomco Energy Share Discussion Threads

[fenners66] 02/10/2021 10:16

Petroteq August presentation says that they have already produced 10,000 barrels of oil.
Did not see that from CORT as the updates were announced , so maybe this means via all of their available processes or over the 11 years or so they have been trying.

Either way Greenfield have managed only a few hundred.
It also states that TOM now own 100% of Greenfield.

That we know from the RNS is BS.
The purchase for 29% of TOM is contingent on 5000 bpd plant financing.

TOM have not even got as far as financing the $18.25 for 760 acres

Failing to even obtain finance for $2m


However Petroteq do say that since TOM spent $1.5m on making THEIR plant work and since they already have nearly 11,000 acres they are in a much better place!

THEY have the tech, they have the personnel, they have the land. (They also have massive accumulated losses $97m !)

TOM have very little and a JV partner that wants out so it does not have to find any more cash or add any risk to trying to get any CORT plan off the drawing board - they instead are willing to drill for oil if TOM can just find $2m to lease the land for a year.

[ajj2003] 02/10/2021 09:24

Petroteq jumping the gun never ;)

[lopodop] 02/10/2021 09:09

TD
The picture is BLEAK. All the while certain parties continue to ignore the multitude of warning signs and are content for the can to keep rolling, the show goes on and the funds burn away. An emergency placing will become less feasible except perhaps at ludicrous price.

[wilson2] 02/10/2021 08:57

Rmart had a few top ups yesterday, ducky had a few top ups yesterday

[the diddymen] 02/10/2021 08:51

Great to see the debate over on this side of the fence!

Back to basics on a weekend of reflection.

The easiest conclusion to draw before the 1 Oct event was that TOM would fudge the issue of paying the 10% deposit.

The logic was simple. Firstly they do not have the cash to purchase the deposit plus meet on going costs up to the point at which they could raise more cash.

Secondly, if the alternative is to deliver bad news, then defer it.

This side of the fence were spot on.

The $1.5m, whatever , that they need is proving a hurdle. Listen to the other side of the fence and the $110m is a given by 31 Dec 21.

The logic that the $110m will not happen is simple.

Firstly TOM is a one man band. It is not credible that a one man band could pull together and organise a team to deliver a $110m project. The risk is immense.

Secondly, 100% of that risk is taken by the financier not the shareholder.

Thirdly, there are plenty of lower risk projects around.

Fourthly, the CV of the one man will present a problem.

Fifthly, TOM's balance sheet is shot. Correctly stated with appropiate write offs, the project will be 100 times the size of TOM's true net assets.

Sixthly they are unable to raise any cash from shareholders for fear of kebabing the market cap.

Seventhly TOM suffer from an unsophisticated shareholder base.

......................

Mixi, get one of your PET flight radar people to watch for flights between Utah and Russia.

[lopodop] 02/10/2021 08:41

DAMAC
How much cash is left in the coffers and how long will that last if there is no funding by placing or alternative source/s?

[rmart] 02/10/2021 08:26

I think Petroteq have jumped the gun on Tomco here. Lots of excellent information provided on greenfield and Valkor. Shows you why what we have is so valuable and exciting. Note the plant cost they are giving.

[shaunx] 02/10/2021 08:17

I'm convinced that lopo is a multi use account, there's no way a single person can relentlessly come up with so much conjecture.

[lopodop] 02/10/2021 07:06

D SL RM
JP is fortunate to have your unfettering loyalty but don't let it override your objectivity.

[lopodop] 01/10/2021 20:12

DAMAC
How much cash do TOM / GREENFIELD hold in the coffers as of 30th September 2021?

[damac] 01/10/2021 19:28

Correct Rmart, and then when certain actions were uncovered in February 21, Lopodop's behaviour became very vicious towards the Tomco board and JP in particular. That's when Lopodop was found out for what he is.

[rmart] 01/10/2021 18:21

it is very interesting when you look back lopo isnt it. When kirchner was in position from nov 20 and your profile appeared just a few weeks earlier..you posts were of a different tone..


lopodop - 25 Jan 2021 - 08:41:48 - 17368 of 23026 TOMCO - TURBOSHALE - Commercialising Oil Shale Production - TOM
This is a low key operation and will be overlooked by the many - the share price will move calmly - fabulous opportunity for patience.

lopodop - 06 Feb 2021 - 11:09:45 - 17615 of 23026 TOMCO - TURBOSHALE - Commercialising Oil Shale Production - TOM
Still we are on a positive track at present and everything to play for!

What a clown !

Go give your pal a cuddle, he needs it.

[rmart] 01/10/2021 18:08

I think it may be yourself that needs to be very careful lopo if you are being encouraged to make posts by someone in particular ?????? Just remember, you could be being used?

[lopodop] 01/10/2021 18:07

SL
Are you suggesting that JP wanted a tame NED? Perhaps Kirchner found out about REFORM ENERGY and became very concerned. Perhaps Kirchner was unhappy about JP's strategy in UTAH. Either way why did JP decide to pay Kirchner after he resigned? Very odd don't you think.
It does raise questions about JP?

[rmart] 01/10/2021 17:04

Has Stuart hurt your friends feelings Lopodop?

[stuart little] 01/10/2021 16:58

I guess then that john wanted his people pulling in the same direction. If what you say is true.

[lopodop] 01/10/2021 16:55

SL
Isn't the answer that JP may not have enjoyed having Kirchner as an NED?
Why would that be? Effective NEDs often serve a very useful purpose and can often be a 'nuisance' to CEO's if they have criticism, reservations etc. What do you know!

[stuart little] 01/10/2021 16:49

Did john potter call the whole project a charade? Or did you make that up?

[hotfinance14] 01/10/2021 16:47

Let's hope the deal daadline is not extended again.

[lopodop] 01/10/2021 16:45

SL
JP gave a very flattering commentary about Kirchner when he appointed him to the Board along with Horsman. In fact it would seem that Kirchner is a great deal more qualified than JP - see the various on line reports. Therefore It is curious as why you make such serious allegations which Kirchner himself make take extremely seriously if he reads your statement. Was there a fundamental disagreement between the two or may be Kirchner was not happy with JP. What is the truth?

[stuart little] 01/10/2021 16:40

I'm sure his tea isn't as bad as I'm lead to believe.

[stuart little] 01/10/2021 16:39

Where did you hear John Potter calling the whole project a charade? Just out of interest.

[lopodop] 01/10/2021 16:31

SL
You have made some very serious allegations about KIRCHNER. Who gave you this information - was it JP? Otherwise how are you able to make very very serious allegations about this person which he KIRCHNER may consider libelous so you may wish to reconsider / withdraw your comments. Also why is he still on the payroll at a cost of £30,000 approx for a year. Is it not strange to pay an NED who las left the company an ongoing fee.
Bearing in mind he was with the company a short time, who appointed him and presumably did the appropriate checks.
What is so concerning is that you personally know so much about this so the only source has to be JP. THAT raises questions about JP someone who appears to have your stalwart support. What exactly is your relationship with JP and is he asking you to feed certain information into this board?

[rmart] 01/10/2021 15:54

a couple of little top ups for me today. I feel in in my bones that we are going to slowly creep back up from here with a boom once the deal is completed.

[stuart little] 01/10/2021 15:40

All follow the maestro Ducky!Hail the Duck!