Tomco Energy Share Discussion Threads

[rmart] 04/10/2021 18:29

ok, i dont see what the 'total different direction is' Someone pops up, offers you money to drill 5 wells becuase your site has the mining permit (i assume) and theirs does not, so saving them possibly a year or so getting it and you make money from it and you want to say 'no thanks'?

[ducky fuzz] 04/10/2021 18:25

What really surprises me is that on September 10th we have MG and JP telling how exciting oil sands is and 3 weeks later we set off in a totally different direction.

Are these 5 wells a development that has popped up in the last couple of weeks.

[rmart] 04/10/2021 18:24

Ducky, who says they have to be 'as profitable', what is wrong with 'extra' profit? the people building the oil sands plant will not be the same people drilling the 5 wells, I dont get your point?

[damac] 04/10/2021 18:22

rmart, I wont be straying from the 'factual' thread (i.e. here) anymore.

[damac] 04/10/2021 18:20

AJJ2003, Yes it is a lot of questions but I just posted it as an indicator to Ducky that the share price will react accordingly depending on how much info is given. If investors/traders are left scratching their heads because an RNS doesn't explain things well enough then they are less likely to buy into it.

[ducky fuzz] 04/10/2021 18:20

rmart .. I think this all could be really positive BUT I have so many questions and cannot understand why we don't just do the Oil Sands venture unless the 110 million is a problem or is for the future.

How are the 5 wells going to be as profitable as our oil sands venture.

[rmart] 04/10/2021 18:15

Ducky, why not do it is the question? We have a very good drilling co we work with who did the turboshale drills so why not use them and have 3 strings to the bow and not 2. Surely you are not like the other thread and expect JP to be digging the shallow oil sands with his shovel in between drilling the deeper holes on his 1 man drilling rig and getting his meccano set out to build the 5000bopd plant ? :-)

and all the while (as the other thread would tell you) baking his own apple pies!

[ducky fuzz] 04/10/2021 18:15

Could we be fracking ... Or are we fracked ...

[rmart] 04/10/2021 18:12

damac,....

Confirm if there will be any future plans to extract other deeper lying oil reserves on TS2 using the same technology or similar?


Or on tomcos other 6 leases which were not suitablefor the shallow oil sands?! There is a hell of a lot of oil there.

[ducky fuzz] 04/10/2021 18:11

damac .. thanks for that. But what I don't understand is why when the oil sands project is so profitable with both oil and sand produced do we bother to do this new venture. How can we possibly do both.

Does this new venture do away with the need to raise $110 million.

So we drill 5 new wells now and the oil sands sometime in the future.

[ajj2003] 04/10/2021 18:04

That is a lot of questions to be answered damac.You would expect someone to be around to answer them ;)

[rmart] 04/10/2021 18:04

I would expect a lot of that damac, but hopefully not all at once !, there is a good few weeks/months newsflow in there.

I notice on the other thread (i cant see what he says) thet fenners cant resist an answer. He is taking the crown as the thread buffoon by a country mile.

[damac] 04/10/2021 17:55

Ducky, depends on what other information is given in the RNS announcing the 10% purchase.

As the last RNS stated...

"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."

Therefor, when they have completed the 10% purchase it is effectively confirmation that the agreement has been finalised with the 3rd party on the above.

So, in that RNS, will Tomco....

Confirm who the 3rd party is?
Confirm the proposed extraction method to be used in each well?
Confirm how long it will take to acquire the necessary permits to drill & operate each well?
Confirm the anticipated start date of drilling the wells?
Confirm the anticipated timescale between breaking the ground and first oil produced?
Confirm anticipated production rates of each well?
Confirm the anticipated lifespan of each well?
Confirm the anticipated quality of the oil?
Confirm if any off-take agreements have been made with refineries for this oil?
Confirm the terms of the agreement between 3rd party and Greenfield?
Confirm if there will be any future plans to extract other deeper lying oil reserves on TS2 using the same technology or similar?

[fenners66] 04/10/2021 17:47

Whatever we speculate (and the other thread was speculating on a fantastical land deal by the end of SEP ) we shall see what comes to pass.

The majority of this thread are highly sceptical that TOM will ever get funding for any CORT plant....

[fenners66] 04/10/2021 17:45

You are right you certainly have missed the point.
You have to understand what is NOT said in the RNS.

For a long time the other thread has maintained that funds were already available for the 10% and it was merely a rubber stamp due diligence...

This latest RNS says that Funding the $2m IS an issue and they are looking to a 3rd party to fund the $2m in return for the oil that the 3rd party Drills - nothing to do with a financier or CORT.

So when does that start ?
How long does it take to even get enough oil to repay the $2m?

Meanwhile the Next deadline looms for the remaining $16.25m by 31-12-22

Or are you and everyone else going to just put your head in the sand and ignore it?

So IF they cannot get pure finance for $2m , how are they going to get finance for another $16.25m?


I put it to you that they will try the same way ..... but that way would need over 2,141 bpd for a year , which they may not have .


So what happens to the 10% interest without buying the other 90% ?

You think they continue to exploit the whole area , etc ?

Or do they just give it up ?
In that circumstance , it would be a year's lease......


Alternatively they could buy some Euromillions tickets .....

[ducky fuzz] 04/10/2021 17:43

Stuart .. It was a sensible question where I was trying to work out if these 5 wells on their own are significant OR whether they were just the means of getting the oil sands deposit paid.

[stuart little] 04/10/2021 17:23

Make it go up.

[ducky fuzz] 04/10/2021 17:22

I wonder what these 5 new wells will do for our share price if confirmed. Guesses anyone.

[rmart] 04/10/2021 17:09

i think you should say it and then you will have to post the video!

[ducky fuzz] 04/10/2021 17:02

TOMco's record on achieving anything by set dates is not very good. So I'll go with
15th November. I was going to say I'll eat my hat if we hear anything in 2 weeks
but my hat is a bit manky .. so I won't.

[ducky fuzz] 04/10/2021 16:46

I thought the RNS said by 15th November .. I could be wrong though. I'll check later.

[damac] 04/10/2021 16:43

2 weeks will fly even quicker.