Tomco Energy Share Discussion Threads

[ducky fuzz] 04/10/2021 16:41

The 5-6 weeks will soon fly by. DF

[damac] 04/10/2021 16:39

It just makes it all the sweeter when the news drops.

[stuart little] 04/10/2021 16:32

Is this correct Inch High Private Fenners? You need to read the RNS again? The funds for the 5 well project will cover the 10% land deal. Nothing to do with the remainder. So were you wrong?3rd party (Valkor?) needs to generate $16.25m before 31-12-22 if Tom gets the land.So they would need on the Petroteq numbers2,141 bpd for a year.......

[rmart] 04/10/2021 16:15

by the way, i dont filter WILSON2 as gives me a daily laugh with his bizarre posts !

[damac] 04/10/2021 16:04

And while you are at it, if you ever quote me, post the entire quote, not just the bit you want to use to try and claim i'm saying something else.


QUOTE

"Those holding shorts (as we suspect) on the other thread, are now putting out the spin that Greenfield are relying on this recently announced news (that a 3rd party are negotiating with Greenfield about extracting deeper lying oil reserves) to fund the remaining 90% of Tar Sands Holdings II LLC. This could not be further from the truth."

[damac] 04/10/2021 15:55

As usual you are deliberately not reading things correctly to push your spin. You and others on here have been pushing the lie that they need this to purchase the follow on 90%, they don't.

The sections you quote in the RNS states "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."


10%!

As relayed from the AGM, no placing is required for purchasing the initial 10%, funds are available for this purpose..... DO YOU GET IT NOW!


Also, you know, don't you, that it is a stock market requirement where RNS are released that include topics about funding, that standard risk statements that no funding can be guaranteed are mandatory. You do understand that surely?

[fenners66] 04/10/2021 15:43

I suppose DAMAC should also have an issue with this

"29/09/2021 13:14 Alliance News TomCo completes oil plant due diligence, warns of funding uncertainty"

Alliance news ...... nasty de-rampers maybe a letter to them is due as well ?

[fenners66] 04/10/2021 15:41

damac
4 Oct '21 - 15:17 - 23060 of 23060
" Greenfield are relying on this recently announced news (that a 3rd party are negotiating with Greenfield about extracting deeper lying oil reserves) to fund the remaining 90% of Tar Sands Holdings II LLC. This could not be further from the truth."

Well then you had better take that up with :

" TomCo Energy plc Malcolm Groat (Chairman) / John Potter (CEO) "

as their "RNS TomCo Energy PLC Further Update re TSHII 29/09/2021 7:00am"

States this :-

"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."

That is clear,
the 3rd party provides the "drill"
Drills "FIVE WELLS"
Has an offtake agreement to use the oil produced to repay the cash loaned for the 10% land interest.


If you believe that is wrong , ring the number supplied in the RNS...

Notice there is no talk of finding anyway to establish a CORT plant involved in the RNS

The most ambitious bit is now restricted to :-

"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"

[rmart] 04/10/2021 14:19

Damac, I know 15th Nov is the longest date but I have no idea if it will come earlier, I hope so! Some people will be miffed!

[fishyneck] 04/10/2021 13:46

Ducky,

All reasonable and relevant questions, unfortunately we don't have the answer yet. As I previously posted, ideally John would have informed us about the new venture once he had more to say, in a few weeks. However due to the land deal deadline he was 'forced' to inform the market somewhat prematurely.

I'm confident the next RNS will answer most of your questions. It's exciting that Greenfield are working on the potential to fully exploit this lease. The deeps, the shallows and the sands should all add to the financial viability of the project as a whole imo. We need more detail but it appears that the ducks are being lined up nicely now....

fn.

[damac] 04/10/2021 13:13

By the 15th is significant rmart, but I have a feeling you may be a month out. JP is back in the UK on the 15th Oct.

[wilson2] 04/10/2021 12:56

The plant is an environmental disaster, no government would allow such a polluting

[fenners66] 04/10/2021 12:48

restricted to demonstrating , but at least they have one and I guess they also exploit traditional extraction methods after all they have had an income stream for many years.

Makes you wonder , if they have a plant and are still restricted on use , what hoops would anyone else have to go through to get a permit for running one....

another potential fly in the ointment for any financier.

Financing a loss making one man band was a tall order, now the latest RNS is struggling to finance $2m
let alone $18.25m

and $110-150m looks like cloud cuckoo land.

More chance buying Euromillions tickets ?

Maybe that would give em some of the "excitement" they are after.....

[lopodop] 04/10/2021 12:33

Fenners66
Yes correct but was there a restriction on using the POSP.

[wilson2] 04/10/2021 12:20

Another red day coming

[fenners66] 04/10/2021 11:47

I think he is suggesting everyone should look at whether investing in PQE is a goer...

After all , they own the tech

They already have 1000's of acres they are not planing on spending $2m of someone else's cash on .... for 1 years rental.

They say they have already produced 10,000 barrels of oil , not watched someone else's team do a few hundred , over months of trial and error.

They now have a working (?) , upgraded POSP plant , that TOM paid $1.5m to get fixed up for them....

The more you think about it , the more it looks far more commercial a proposition.

However they do have accumulated losses of $97m or so rather than the £20m TOM has....

But they actually Have had an income stream before !

[wilson2] 04/10/2021 11:28

Are you going on holiday Goulding? that's exciting

[goulding1215] 04/10/2021 11:21

Exciting times ahead!

[rmart] 04/10/2021 10:48

exactly right Vauch. New licencess now pay 8% royalty and new licences are $2m for just 1 plant.

Greenfields is a multi site licence and only 5% royalty. People will be watching and I expect we will become a target once we secure the Tar Sands site. Whoever wants petroteq are not simply going to dissapear. There will be more than 1 interested party.

[wilson2] 04/10/2021 10:28

Why does one person keep going on about PQE ?