Tomco Energy Share Discussion Threads

[the diddymen] 10/11/2021 22:02

From the other thread:

"If you look at the chart the price is really in an uptrend making higher lows. Just need it to make higher highs as well"

Nothing a placing will not sort.

[mashman] 10/11/2021 21:26

If you look at the chart the price is really in an uptrend making higher lows. Just need it to make higher highs as well

[lopodop] 10/11/2021 11:01

TD
Had there been the slightest chance of third party putting up some cash, TOM would by now have offered some form of attractive equity participation to grease the wheel. But in the absence of any news from TOM, the position is dire.

[fenners66] 10/11/2021 10:23

"hotfinance14
10 Nov '21 - 07:36 - 23827 of 23835

I think it's going to the wire due to TOM not getting the funding.If this is the case there will be a huge drop in the share price A seconf delay will destroy confidence,"

I assume that was meant to read a "Second" delay


But it's not
First RNS said 4 months to complete deal
2nd added a delay for a month
3rd added a delay for 6 weeks

any delay now is a 3rd delay

as for destroying confidence .... the other thread are already prepping excuses for them about permits and delays ...

Some of the faithful (deluded? desperate gamblers? gullible ?) are prepared to accept any excuse... and it seems they still have a few quid to gamble , so who knows ?

Of course if any excuse like that comes out, why agree to any "OPTION" in the first place ?

As clearly any excuse just proves that they were NEVER going to get it done in time.

Not in 4 months
Not in 5 months
Nor in 6 months

a few days left for 6.5months....

[the diddymen] 10/11/2021 09:03

Agreed that 0.5p is pie in the sky stuff.

I am not sure that they could get a placing away. If they did it would be very heavily discounted a la W2 plus further dilution from warrants.

[lopodop] 10/11/2021 08:49

Wilson2
It's already too late - who would consider a placing at this stage. VAUCH may wish to contribute but who else - Goulding 1125 perhaps?

[goulding1215] 10/11/2021 08:35

I think Vauch has a point. Perhaps the other side don’t want to hand over $5 million, until last minute. It is not a gas bill.

[vauch] 10/11/2021 08:27

Assuming a successful completion of the acquisition of the initial 10%, Greenfield will then have an exclusive option, at its sole discretion, to acquire the remaining 90% of the Membership Interests for additional cash consideration up to 31 December 2022, as detailed in the 9 June 2021 announcement.

[vauch] 10/11/2021 08:25

Or extended a year with a further 1 mill added I think

[ajj2003] 10/11/2021 08:20

I presume the end date for 100% purchase of the site remains 31st December from memory so the end goal still remains unaltered

[ducky fuzz] 10/11/2021 08:08

What's an EGN?

[wilson2] 10/11/2021 08:05

If there was a placing it would be a lot less than 0.5 , more likely 0.3

[vauch] 10/11/2021 08:04

If not then an EGN needs to be called

[hotfinance14] 10/11/2021 08:01

If there is a placing it will be lower than the current share price It would be at about 0.5p so further dilution. I hope we get the funding but it looks like Sage was right.

[vauch] 10/11/2021 07:56

In most cases and a lot of past RNS postings the management have been rather subdued in the wording. but the last couple of them have been more upbeat, will this continue or now the AGM is done for another year will we be subjected to the old style RNS's again.
If funding is not forthcoming then do a placing only for shareholders at 1p
I think most would go for it as I know I would.

[hotfinance14] 10/11/2021 07:36

I think it's going to the wire due to TOM not getting the funding.If this is the case there will be a huge drop in the share price A seconf delay will destroy confidence,

[ducky fuzz] 10/11/2021 07:30

Do we need different sorts of permits to do this CO2 drilling?

Is that what the lack of progress is.

I think John Potter is in Utah at the moment maybe sorting this out.

I don't know about everyone else but I always pay my bills on the last day. So I'm not surprised this is going to the wire as someone said.

[vauch] 10/11/2021 06:58

To the wire and beyond is the TOM way

[the diddymen] 10/11/2021 06:57

D-4

Defer bad news as long as possible.

[gjabrj] 10/11/2021 06:28

Going to the wire!!!

[lopodop] 09/11/2021 20:58

TD
No, the directors must realise that this is the final chance. If unsuccessful this time, it has to be the end.
Re going concern, surely there must be doubt about this and the ability to meet liabilities.

[the diddymen] 09/11/2021 20:55

F66 - do PETs get fleas?

[the diddymen] 09/11/2021 20:55

Just wondering whether the Directors saw fit to renew the three licences that were due to expire on 01/10/21. How much did they cost to renew, and if they have not been renewed what was the write off value. Should this have been RNS'd or does the Director have bigger fish to fry?


Per cent Licence Licence
Asset Interest Status Expiry Date Area (Acres)
ML 49570 100 Prospect 31/12/2024 1,638.84
ML 49571 100 Prospect 31/12/2024 1,280.00
ML 48801 100 Prospect 01/10/2021 1,918.50
ML 48802 100 Prospect 01/10/2021 1,920.00
ML 48803 100 Prospect 01/10/2021 1,920.00

Also wondering what the going concern statement is going to look like without a placing?