Tomco Energy Share Discussion Threads

[damac] 04/10/2021 20:13

Our posts crossed lol

[damac] 04/10/2021 20:12

Are you meaning the Redleaf Ecoshale Vauch?

That was for oil extraction from shale. Oil extraction from sand/ore is hopefully more achievable by whatever method this 3rd party are going to use.

[vauch] 04/10/2021 20:12

EcoShale was the oven method I was thinking about

[vauch] 04/10/2021 20:08

So long as they do not use the oven method that was trailed years back

[fenners66] 04/10/2021 19:59

LOL, can't say I've seen it all now , but its on its way to....



"damac
4 Oct '21 - 19:46 - 23101 of 23104

Possibly even way less than that.

Some alternative methods of oil extraction from oil sands seem to be relatively straight forward with not much required to achieve the goal.

The longest part of the commissioning process will probably be the drilling of the holes.

hxxps://www.fluor.com/about-fluor/corporate-information/technologies/steam-assisted-gravity-drainage"


Now in order to fund the deposit , to get on the lander to some acreag
e , to persuade funders to pay for $110-150m CORT plant which is "unique " in its Green credentials and no pollution, no waste, definitely no water involved......

Damac thinks it will be getting a 3rd party to inject hi pressure steam to remove oil............

LOL !

[damac] 04/10/2021 19:53

Its an example

[ducky fuzz] 04/10/2021 19:51

damac .. Is that a guess ..

[damac] 04/10/2021 19:46

Possibly even way less than that.

Some alternative methods of oil extraction from oil sands seem to be relatively straight forward with not much required to achieve the goal.

The longest part of the commissioning process will probably be the drilling of the holes.

[goulding1215] 04/10/2021 19:32

OMG. WTI $78.

[ducky fuzz] 04/10/2021 19:30

Ok 6 months.

[damac] 04/10/2021 19:28

Ducky,

I don't believe they will be anything like 1 year to drill and produce oil.

Again, this is one reason it is important that any RNS gets the right information out to shareholders and potential investors/traders.

[damac] 04/10/2021 19:27

Vauch,

These 5 wells are definitely for extraction oil for sale, it states it in the 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."

[vauch] 04/10/2021 19:25

Well maybe next AGM you and Wilson will show some real aptitude and attend.

[ducky fuzz] 04/10/2021 19:23

Hi damac .. but surely it will take a year or so to get these 5 wells up and producing oil .. at which time our new plant should be producing oil.

[vauch] 04/10/2021 19:23

Ah it is all so clear fenner,
I must take another couple of mill before they start to drill.
I am amazed you could not be bothered to even attend the AGM

[damac] 04/10/2021 19:20

Ducky,

Your post #23090

We are being informed of it in the last RNS, however i'd be very surprised if discussions have not been going on for sometime with the relevant parties.

It is clear from the wording of the RNS that this was where the 'no placing required, funds are available for this purpose' stance came from the AGM.

Further to what rmart said, you should not mistake this as a change in direction, it is certainly not. You need to think of it more like an additional income stream being identified that also provides near term financial breathing space for Greenfield (and hopefully by default Tomco) as they continue to work on the main project of building and commissioning the initial 5k plant.

[fenners66] 04/10/2021 19:17

Ducky be careful they will soon ban you for questioning too much....

You are getting the point - Vauch thinks 5 wells are to see how far Tar sands go.

Completely missing that the only way the 3rd party is going to stump up $1.5m to help with the land deposit is if THEY get to drill (old school) the oil beneath...

If that happens , it may be the only thing that happens.

Why? Because they are showing that just financing the deposit cannot happen.

If it's that easy to build a $110-150m CORT plant for TOM in say 2 years time, how easy would it be for TOM to rent a rig and drill their own oil (at a fraction of the cost) now ?

Thus generating their own income to pay the deposit and the balance $16.25m.

Answer?

None of it is easy.
Not enough money.
No personnel
No tech

Is the 3rd party Valkor?
They introduced TOM or is that desperate TOM who have seemingly abandoned RF, to greenfield and Petroteq's tech that they had been working on for 10 years.

What was TOM's role ?
Provide $1.5m to get the POSP refurbed.
After that what do they offer ?

[goulding1215] 04/10/2021 19:01

Ducky, a profit is a profit is a profit. The more the merrier.

[ducky fuzz] 04/10/2021 18:48

OK thanks V.

No doubt we will find out in November.

[vauch] 04/10/2021 18:46

I sure i read some ware that land next to ours has a sweet spot of high concertation tar sands and some drilling had been done already, I would think the 5 drill program will be to see ho far the sweet spot goes.

[ducky fuzz] 04/10/2021 18:35

Vauch .. Do you think there is an oil reservoir below the oil sands .. Do you think these 5 wells are just for testing purposes .. ie there might be no oil.

[ducky fuzz] 04/10/2021 18:32

rmart .. Just wondered how this all popped in a few days and was something no one knew
anything about.

Good point about the permits I hadn't thought of that. You are very switched on. I'll go and put the black coffee on.

[vauch] 04/10/2021 18:29

DF, you are missing the point, the wells are just to see what is in the deeper zones.
If they are extracting say 50m deep tar sand then if the sand goes deeper the my well carry on with open cast extraction.
With tar sands they will not be able to drill a hole and draw up oil

[ajj2003] 04/10/2021 18:29

Yep damac a large number of potential updates / RNS to come which will support an uptrend in the share price accordingly. I would also think it logical to assume the top brass would want to be on site and available for interviews and follow ups to coincide with the forthcoming major announcements.