Tomco Energy Share Discussion Threads

[stuart little] 06/10/2021 20:38

Should read Fall back on! (Excited fingers)

[stuart little] 06/10/2021 20:33

Oil revenues within months. A project to fall work on whilst building the Plant. 10% land deal paid for with resources not previously known about. Preservation of working capital. No placing! Our 740 acres will have more than 5 areas of these deep zones...

[wilson2] 06/10/2021 19:29

Who are you and why are you posting?

[wilson2] 06/10/2021 19:27

Tomco are hanging in there, although they were 0.8 and have dropped to the point no one is in profit any more. Ducky I've got to admire ya balls selling and making a handsome gain, unfortunately greed got the better didn't it , shame on you being a labour supporter

[fenners66] 06/10/2021 19:24

So the gamblers think they have confirmation that TOM's 50/50 Greenfield partner is the mystery 3rd party.

Why the mystery ?
Why does TOM refer to Greenfield as if they have already bought out Valkor - its contingent on the finance for a 5000bpd CORT plant ?

Seems to me that since Valkor are a 50/50 partner, it would be equitable for them to fund the remaining $1.5m 10% deposit, but instead they want to drill for oil - no sign of a Tar Sands process and get Greenfield to pay back the $1.5m with any oil found.

This tells us that if it goes ahead , Greenfield pay for the land deposit but get nothing from it until after the $1.5m has been paid.

Then there is a deadline for $16.25m to be paid by 31-12-2022.
How could Greenfield pay that ?
After the $1.5m loan has been repaid who gets the cash from Valkor drilling?

BUT now the idea is that it will start commercial quantity mid 2022
We know that the really profitable CORT process would need a full year at over 2000 bpd to raise $16.25m , but this drilling is not that.

So if Greenfield gets to keep all the EBITDA from mid 2022 onwards it would have to drill in excess of 4,000 bpd to meet the deadline , just to buy the land.

Unlikely ?

So they are back to the can kicked down the road , financing.
For land , not owning the plant, partner wants out, no personnel and a track record of losses and failed projects.....

What happens 31-12-2022 ?

[ducky fuzz] 06/10/2021 19:15

damac .. Half of contestant number 2 was tipped down the sink as it was disgusting.

[stuart little] 06/10/2021 19:12

https://www.netl.doe.gov/sites/default/files/netl-file/co2_eor_primer.pdfHelp you sleep ducky

[damac] 06/10/2021 19:12

I’m finally off to watch this video for myself now, will tune back in here later.

[damac] 06/10/2021 19:12

Ffs Ducky, it only took 12 minutes for you to neck contestant number 2, pace yourself lad.

[ducky fuzz] 06/10/2021 19:08

I might not sleep tonight so I better drink contestant number 3.

[fishyneck] 06/10/2021 19:07

I won’t be buying an QFI shares that’s for sure! I just think we should be excitedly reading this stuff from our own RNS, its brilliant news. I hope John can give us a full RNS very soon to enlighten us further on the project.

the ducky’s are lining up....

[ducky fuzz] 06/10/2021 19:01

Are you livid.

[fishyneck] 06/10/2021 19:00

Ducky,

They mention Valkor and the process in the same sentence around 59 mins...I agree that this should be our news to put out not for QFI to feather their nest with its shareholders. These guys should know about discussing other listed companies projects, unprofessional and lacking respect in my opinion.

Fn.

[foxm] 06/10/2021 18:59

"Valkor are in the area and very active", wink wink, nudge nudge.

[ducky fuzz] 06/10/2021 18:56

With that picture in my head I think I need to drink contestant number 2.

I have some new beers and have to decide which one I prefer. Yes they are cheap.

[damac] 06/10/2021 18:54

Ducky, I thought we had settled on me being JP’s buxom secretary 👩‍8188;

[ducky fuzz] 06/10/2021 18:51

Thanks Fishy .. Who are the partners I got bored and switched off.

[fishyneck] 06/10/2021 18:49

Around the 58 minutes mark is where he probably says too much....Tomco keep things quiet for commercial reasons and QFI feel it ok to name the partners and the process. Johns phone will be hot, hopefully he’s signing off the RNS now.

That aside, with the cat out of the bag....great news with near term revenues from these 5 wells. Also as we know this 5 well project pays the deposit on the land, all sounds a done deal.

fn.

[busamitch] 06/10/2021 18:39

Make it a steam beer, with added CO2 if you'd like more head.

[ducky fuzz] 06/10/2021 18:36

Well its gone 6pm so I think I need a beer.

[ducky fuzz] 06/10/2021 18:34

Thanks damac .. I assume you don't work for QFI ..

[ball deap] 06/10/2021 18:33

I know but it's a long play

[damac] 06/10/2021 18:32

Ducky, I refer you back to this 😉 ….


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.

[stuart little] 06/10/2021 18:25

"We have NDA's that we have to respect"....hmmm. Questionable.