Tomco Energy Share Discussion Threads

[wilson2] 03/10/2021 13:12

Who's winning the arc?

[lopodop] 03/10/2021 13:10

TD
The backstop is the chairman. He is a smart cookie and one would expect him to be two or more jumps ahead. Question is can he turn this around if the existing plan collapses.

[the diddymen] 03/10/2021 11:57

Lopo, this surely has to be all or nothing, and I guess that is what the shareholders are after. There will be no prisoners on this one!

[ducky fuzz] 03/10/2021 11:45

FROM OUR MOST RECENT RNS ..

''Greenfield is currently in detailed discussions with a third party which is funding an extensive in-situ oil production programme adjacent to TSHII's land, accessing resources deeper than Greenfield envisages mining for its purposes. As part of these discussions, the 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, with an associated 'off-take' agreement serving to provide sufficient upfront funding to enable Greenfield to acquire the initial 10% of the Membership Interests in TSHII to be repaid from the sale of the oil produced''.

"During the due diligence exercise, it has become apparent that there is the potential for deeper resources than those Greenfield envisages utilizing, thereby opening up further potential funding routes. Greenfield is now focused on commercial negotiations with the third party concerned in order to seek to secure the funding for the initial acquisition of 10% of the Membership Interests and progress its plans. We look forward to providing further updates in due course."

Questions for damac, The Fish, SL or rmart please ..

q1. I assume the 3rd party can't be Valkor .. Is that Correct ..
q2. What is in it for the 3rd party please .. Why be so generous ..
q3. Will we be charged interest ..
q4. How much oil would we get from each well potentially ..
q5. Is this a different process to what we are doing with oil sands..
q6. Does the 3rd party want a percentage of Greenfield for this funding ..
q7. Are there oil reservoirs at a lower depth ..
q8. What sort of oil is achieved .. Is it different to the oil sand ..
q9. Do we already know where the oil is on the TSH2 land.
q10. Is this process green or is it fracking / a sort of fracking ..
q11. When might these wells be drilled.
q12. Won't the drilling be affected by bad weather .. ie will we have to wait till
Spring 2022.

Apologies if some of the questions are stupid.

[lopodop] 03/10/2021 08:40

TD
Any idea what alternative plan could be? Might it involve a VALKOR site / sites on a lease basis? At least stage 1 would be achieved.

[lopodop] 03/10/2021 08:12

TD
How long before BOARD pull the land deal. Better to face a write off than receivership. Will need yet another plan to go forward plus a dreaded placing.
The NEDs have training and experience in managing businesses and understand the art of doing what is feasible so as to avoid failure. Has JP the requisite and expertise / training to make the right decisions as CEO? Really where is that evidence. All we have is a glowing write up on the website and little else. The next weeks will provide evidence of one sort or another.

[the diddymen] 03/10/2021 07:57

Mixi on thrgef's preferred thread:

"Well done rmart. Greenfield’s unpaid PR manager."


More Goebbels than PR though.

[the diddymen] 03/10/2021 07:53

thr - just gives you a bit of perspective on TOM, should you want it.

You could have made a bit of money listening to us forecast that the 1 Oct deadline would be fudged.

[goulding1215] 03/10/2021 05:01

Well done rmart. Greenfield’s unpaid PR manager.

[thrgef] 03/10/2021 01:53

I can't believe how much waated effort there is on here so try undermine this share. Is this really what you wanted to do with your lives?

[fenners66] 02/10/2021 22:43

i see rmart has added in the slides from the Petroteq presentation

The one I quoted earlier that says a 5000 bpd plant makes $37.95m EBITDA in a year.

That is probably optimistic - but as above if it is so good , its supposed to be (at that level) they did the numbers in the presentation , MORE profitable than drilling for oil.

After all , if its LESS profitable all this talk is irrelevant . Anyone would invest the finance in the most profitable oil project.

So lets assume it is

Let me spell it out for rmart using his own source.....

3rd party (Valkor?) needs to generate $16.25m before 31-12-22 if Tom gets the land.

They are planning on doing that with traditional (less profitable?) drilling.

So they would need on the Petroteq numbers

2,141 bpd for a year........

I put it to you they will not even have a year by the time they get started... so

Either they fail to raise the cash through drilling
or
Drilling is more profitable than CORT

So its a fail for the cash or a fail for CORT because drilling the land is more profitable , less risk, does not need a $100m plant......

Its got to be commercial.

[james dean] 02/10/2021 17:47

Thanks from me too rmart

[talais] 02/10/2021 12:23

Nice bit of research rmart, Looks like buying has started a lot earlier than some have anticipated. Think we might see 1p broken in the next few weeks, GLA

[the diddymen] 02/10/2021 11:30

reichsmart great to see you over here.

Just to remind you just prior to the start of this week you were claiming that there was no needs for a placing, the 10% deposit would be paid and the share price would be shooting up above 1p.

This side of the fence said no, they will fudge the issue and kick it down the lane.

They did not do just kick it down the lane, they introduced a new yet to be disclosed party who would save the day with the 10% deposit etc etc

Reichsmart, serious businesses do not operate in that manner.

[rmart] 02/10/2021 11:12

That is a worry for Petroteq,” holders, I am only in Tomco.

[vauch] 02/10/2021 11:12

PQE wont have a partner as they will be taken out, and at some point the we will know who is after the co, and at that point another company will be after them.
If it gets an offer in the $2 range then im for selling

[ducky fuzz] 02/10/2021 11:00

Thanks for sharing rmart .. Glad I bought my 2 Mill TOMco shares back on Friday.

All looks very good. My one worry for PQE is who would lend them money with their
payment record. They probably need a partner.

[rmart] 02/10/2021 10:45

so even using Petroteq figures of all in production cost $25, then deduct $10 to $15 for the frac sand toy are looking at a process that produces oil for around $10 per barrel.

And I think the sand value is higher than this. So no one will lend money on those figures? there will be a queue of lenders !

[rmart] 02/10/2021 10:35

here we go with the weekend pantomime. PATHETIC.

[fenners66] 02/10/2021 10:33

Shareholders get the Board to explain how the Mystery 3rd party can generate $16.25m in a year drilling for oil on land that is not theirs...

How many bpd ?
When does it start?
What cost to start up?
How much will Greenfield owe ?

How can it possibly achieve it in the timescale which TOM agreed to 5 months ago so clock has been ticking for so long already with Zero progress.......

[fenners66] 02/10/2021 10:30

What could happen in the year to 31 Dec 2022 ?

Lets suspend disbelief ....

Valkor agree to finance the $1.5m remaining for the lease 10%
Just happens to be the same number that TOM spent remember without TOM arriving as a White Knight Valkor would have paid that...

They then wait until after the winter to get a drill rig on site...?

Turn on operations when ? It takes a long time to get this right, what if they miss the target ?

Clock ticking and some income accrues. But its not enough to pay the balance of the massive land cost $16.25m ...

Why ?

LOOK at the Petroteq presentation

-5,000 bpd plant , cost of $100m by 2023 produces EBITDA of $37.95m a year

- So EBITDA $16.25m needs a CORT plant ... 2,141 bpd !!

Remember CORT is supposed to be a more profitable pollution free improvement.

If its not More profitable - why bother.


But it will surely not even be a year's production...and how optimistic are Petroteq's figures anyway.


So if they fail to find $16.25m what happens to Greenfield ?
Goes bust ?
Valkor step in and buy the land ?
Just write off the $2m ?

One man band with no tech, no personnel, little cash, massive accumulated losses £20m+ ... sounds like a gamble...

[vauch] 02/10/2021 10:28

We just need PQE back trading