Tomco Energy Share Discussion Threads

[vauch] 11/10/2021 19:41

DF, you are becoming a member of the dark side.
To keep you happy they could raise funds in many ways
loan private funding through warrants
public placing to existing shareholders
placing through institutions
direct loan
a % buy in of the co
or once drills are done and are producing finance can be backed against it.
The options are endless

[fenners66] 11/10/2021 19:35

Where was the POSP then ?

"A potential site on which to build Greenfield's first 10,000 bopd plant has also been identified (the "Potential Site") which remains under assessment.

In order to better inform the FEED study, the joint venture has recently decided to start processing ore from the Potential Site, which has different physical characteristics to the ore previously processed by the POSP."

if its the ore or the land next door that the Utah govt agency have a problem with it's still the same point , if they can make it difficult for Petroteq to continue using the plant they can make it difficult for anyone to drill.

[fenners66] 11/10/2021 19:28

I presume you mean 500 million shares

[fenners66] 11/10/2021 19:27

I have never said anything else about a placing or raising new equity.

[stuart little] 11/10/2021 18:48

And by the way however took part in the last one @.45 will have done ok. In fact the last 5-6 placings have all given participants the opportunity to make money. Not such a gamble, the brokers would have jumped at the chance of placing 500,000 shares here. And all would have been snapped up.

[ducky fuzz] 11/10/2021 18:42

I know there is no placing planned.

BUT if TOMco can't get any other funding then it's an option isn't it. Unless you've heard differently. DF

Of course I want PLAN A.

[stuart little] 11/10/2021 18:40

There is no placing!!!!

[ducky fuzz] 11/10/2021 18:37

Not that I can afford to take part in a placing .. so it's not what I want.

[ducky fuzz] 11/10/2021 18:33

I would have thought that if the third party funding didn't come through then I think
investors would be keen on a placing to raise the 5 Mill. Especially as it is to
drill 5 wells and the TS2 deposit.

[stuart little] 11/10/2021 18:30

Can never take these things for granted. That said, due to the timescales, near term drilling, it looks like a fairly simplified process.

[ducky fuzz] 11/10/2021 18:25

I assume we will get them .. Is this what is holding up the finance announcement. DF

[stuart little] 11/10/2021 18:24

We need permits for the deeper drilling Ducky. Currently being worked on I believe. The permits are in place for the original scheme, large mining operation.

[ducky fuzz] 11/10/2021 18:20

Anyone know if we need new drilling permits or do we have them already when we purchase TS2. I think someone posted that TS2 has all the permits we need. DF

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

From the latest 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.

The extension of the abovementioned exclusive option to 15 November 2021 has been agreed to facilitate the ongoing funding discussions for the initial 10% acquisition, however there can be no certainty that a suitable agreement will be reached with this or another third party or as to the terms of any such funding.

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Hi Stewy .. I do not know why you post on the other BB. You are just making more people read it by your involvement there.

Fenners feeds off your discussions with him. He loves the repartee and will never concede that you are right. Even when you are.

Our short term future depends on the third party funding coming through. With the finance the whole perception of TOMco's chances of success goes way up as will the share price.

We are going to find out by the end of October one way or another. That is
14 trading days.

[stuart little] 11/10/2021 18:05

Now they realise there's no placing they've shifted to "wouldn't have been able to do one anyway"Can't have it both ways...or maybe on a anonymous bulletin board you can?!

[stuart little] 11/10/2021 18:02

I'm losing the will to live over there! Not sure how long I can keep saying the same things...rmart was right. With every answer they just keep shifting the goalposts.

[stuart little] 11/10/2021 18:01

You were all spouting about a placing but now you realise that's rubbish you are saying they wouldn't have been able to do one anyways! The shifting opinions on here is incredible!

[fenners66] 11/10/2021 17:58

You stated getting a placing away was the easy way - why ?
What have they got to show for the last one?
What's been added to the balance sheet?

There has been enough discussion as to whether there should ever be one on here , there must be shareholders against..

I agree the market is full of gamblers , but could the get one away so easy ?

[stuart little] 11/10/2021 17:57

The POSP wasn't/isn't on TS2 land. On that basis I didn't read the rest.

[fenners66] 11/10/2021 17:55

"stuart little
11 Oct '21 - 15:15 - 13069 of 13072

I don’t understand your link to PQE. That has nothing to do with TS2 or the LMO already issued."

That's easy.

Where was the CORT plant that was used to test the process in principal - TSII.
Who owns the plant - Petroteq.
That had a license.
Who licensed it ? Utah govt agency etc.

Who has limited the use of the POSP to demo's only - same.

So who is making it difficult - seemingly un-necessarily - same.

How easy are they going to be to deal with to get a commercial drilling license especially if it involves pumping steam into a hole in the ground and potential polluting the water table ?

Clearly the commercial issues are not the only ones then.
TOM do not operate in a vacuum (actually do not operate at all in a commercial sense) the permit issues for companies around them , are a consideration.

[stuart little] 11/10/2021 17:53

But it's the same questions over and over without taking the answers into account. I've explained why the 10% was, in your words, 'fudged'. You either believe they spent 4-5 months pulling together the deeper zones deal or you don't, but that is the answer. Repeating the question isn't constructive. Could they have done the deal months ago via a placing? Of course. Why didn't they??

[goulding1215] 11/10/2021 16:45

He could write a thesis on how not to write rubbish on Bulletin Boards.

Here it is. Do not write on Bulletin Boards if your name is Fenners.

[the diddymen] 11/10/2021 16:40

Reichsmart, F66 is asking the right questions. Just to remind you prior to the last deadline to pay the 10% deposit many of us on this side told you that the company would struggle. In your view the transaction would go through and the share price would take off.

Luckily the market shared our view.

The last minute arrangement to pay the deposit is great, but the health warning is that last minute arrangements rarely come off. We will just have to wait and see if John Potter has played a blinder.

Even if John Potter/TOM clear the deposit hurdle, it is miniscule compared to financing the plant. This is a 1/1000 chance.