Tomco Energy Share Discussion Threads

[ducky fuzz] 16/11/2021 07:32

I don't think that's right rmart. Who are TS1?

OK you've edited. Had me confused.

[fenners66] 16/11/2021 07:31

"fenners66
15 Nov '21 - 09:12 - 13361 of 13375 Edit
Clearly if any deal happens they are now over a barrel and any third party knows it.

Bend over..."


"then interest of 2% per month shall be applied to such unpaid amount from time to time until it has been repaid in full."


In other words more than 24% per annum....

Take it....

What on earth are they going to do with the $16m due in just over 12 months ?
And no committent mentioned of anyone drilling for them......

[ajj2003] 16/11/2021 07:30

Even a Tomco tweet, must be a good day ;)

We are pleased to announce the acquisition of the initial 10% of TSHII today

[rmart] 16/11/2021 07:29

Ducky, there will be deeper oil in that area, greenfield have been given a lease for next to nothing but need to pay TSHII 12% royalties from production, it is an extra bit of fantastic news. TSHII It will bring in income whilst we move forward with the main prize of the first 5,000 bopd plant.

The 12% only applies to conventional oil and gas, not the oil sands production

[hotfinance14] 16/11/2021 07:26

Excellent news. Take a bow John Potter.

[goulding1215] 16/11/2021 07:26

I don’t know for sure the significance of this part of JP’s summary:-

he drilling of certain near term oil production wells. CERTAIN being the significance word here. So, an oil producer in Q’22?

Anyway, lots of gaps to be filled, all of which will be good for the share price

[ducky fuzz] 16/11/2021 07:26

OK .. it might be the fact I drank a little too much last night but I do not understand the following. Can someone please explain.

===========================

Alongside the acquisition of the initial 10% of the Membership Interests, a newly incorporated subsidiary of Greenfield has been granted a lease over approximately 320 acres of the 760 acre site owned by TSHII (the "Lease Area"), for a nominal consideration and annual rental of US$320, together with a 12% of net sales royalty per barrel of conventional oil, gas or sulphur produced and removed from the Lease Area.

The lease provides Greenfield's subsidiary with the exclusive right to explore, drill, and mine for, and extract, store, and remove oil, gas, hydrocarbons, and other associated substances on and from the Lease Area, together, inter alia, with the right to erect, construct and use such plant and equipment and infrastructure as required. The lease is for an initial term of 10 years and will continue thereafter for so long as any oil, gas or other hydrocarbons are being produced from the Lease Area or drilling operations are being prosecuted or as the parties may agree.

[shaunx] 16/11/2021 07:22

Fencers, Diddymen, Wilson, lopoplop, you boys took a helluva beating

[rmart] 16/11/2021 07:21

Waiting for the panto to start.

[vauch] 16/11/2021 07:19

So this news should see us over the 1p mark and will now get greater attention.
Can we get a plant up and running before PQE is the next goal

[damac] 16/11/2021 07:18

"Commenting, John Potter, CEO of TomCo, said : "We are delighted to have completed this purchase of an initial 10% stake in TSHII. The acquisition provides Greenfield with a base from which to accelerate its plans to pursue both the drilling of certain near term oil production wells and thereafter the acquisition of the balancing 90% of the Membership Interests and its first commercial scale plant, subject to funding. We expect the permitting process for the production wells to be completed in Q1 2022, following the drilling of three exploration wells intended to occur in December 2021."

[rmart] 16/11/2021 07:18

Total transformation of Tomco now, drilling literally next month!

Valkor backing and now a 29% shareholder in Tomco! This must surely move into the pennies now.

More conventional oil production as well as the 1st 5,000 bopd oil sands plant. We are now a real oil production company.

[vauch] 16/11/2021 07:12

WOW I like it also 12% of any sales, This could add significant cash to cover the final lad purchase.
This is now a game changer for TOM.
Land deal done
Malty leases
An an extra income from Valkor deep extraction

If this douse not rerate now I dont know what will kick it in

[thrgef] 16/11/2021 07:08

3 exploration wells next month!

[stuart little] 16/11/2021 07:05

Drilling in December....

[rmart] 16/11/2021 07:05

BOOOOOOM!!!! Valkor!!! Did the dark side say Valkor were waking away, lol total clowns.

Excellent, massive, confidence in backing Tomco.

[jaynealex] 16/11/2021 06:52

Oooohhh the tension !

[fenners66] 15/11/2021 19:26

Happy posters - not

If you're all screwed it will be sympathy for some , they are being sold a dream , a dream we don't believe in.

But it would most likely be some sort of fudge...

I guess the company's cash has not run out yet; or the chances of convincing some to part with more cash , so the merry go round will continue somehow....

[ducky fuzz] 15/11/2021 19:20

But there will be happy posters ... Over on the dark side.

[rmart] 15/11/2021 19:17

We are all screwed :-)