Tomco Energy Share Discussion Threads

[vauch] 10/1/2022 10:12

What is the price of bunker fuel (marine oil)

[chadwick123] 10/1/2022 09:01

Thanks again Talais

[talais] 10/1/2022 08:55

Found the interview https://www.directorstalkinterviews.com/tomco-energy-10-stake-in-tshii-base-to-accelerate-plans-on-multiple-fronts-interview/4121034161

[vauch] 10/1/2022 08:38

Maybe the excitement got the better of him at the time.

[chadwick123] 10/1/2022 08:35

Many thanks Talais, I was just going by the last RNS statement, didn’t realise he’d said it.

[goulding1215] 10/1/2022 08:28

Yes, there will always be delays in the oil and gas industry. But info as to why there is/has been a delay is far more useful then nothing. Poor information management.

[vauch] 10/1/2022 08:27

Thanks Talais.

[talais] 10/1/2022 08:22

It was said in the media interview

[chadwick123] 10/1/2022 08:21

You will always get delays in the Oil & Gas industry, it’s the norm, still frustrating though,

[chadwick123] 10/1/2022 08:17

Vauch, Can’t find where he actually said beginning of December

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.

[vauch] 10/1/2022 08:08

Most likely Stuart, smoke and mirrors this lot.
As John has gone back over and I cant think it is for the weather.

[talais] 10/1/2022 08:06

That what I have been expecting.RNS ,All three well have been completed,

[stuart little] 10/1/2022 08:00

The outcome of them is apparently a formality, the speed of getting them stamped has clearly been underestimated. Or they have them and are proceeded without telling us, with results on completion. They wouldn't would they? Probably would!

[vauch] 10/1/2022 07:58

Still only 4 weeks to go for PQE takeover.

[vauch] 10/1/2022 07:57

In an interview John told us that the drill would most likely start 1 week December but he did not say which year.
But in the RNS statement it say first quarter which is a more realistic time scale.
John needs to avoid jumping the gun, it only caused discontent.

[hotfinance14] 10/1/2022 07:47

If the permits to drill is just a formality any idea why TOM have not received them ?

[the diddymen] 10/1/2022 07:21

Euphamism for political risk. It happens the whole time.

[stuart little] 09/1/2022 18:09

"President Joe Biden is approving more oil and gas drilling permits each month than Donald Trump did during the first three years in the White House, according to new research"Reported December 2021.I'll keep Joe in mind but as things stand it's not a concern to me.

[stuart little] 09/1/2022 17:52

I 'expected' to start the build on my new house in November. Due to a noggin at the planning office and subsequent supply issues it will now be February. That's the reality of things. Fortunately I only have Mrs Little to answer to.

[stuart little] 09/1/2022 17:26

Of course fingers are crossed as the drill bit turns. That's the nature of the beast and adds to the risk/reward situation. I could argue that the 6 week delay doesn't actually exist. John "expected", didn't guarantee it. Clumsy words in a live interview?? Lost a couple of weeks in December (could use the C excuse!)then everything closed for Christmas. The drill takes a few days to complete. Sooner the better.

[the diddymen] 09/1/2022 17:02

SL, of course but they do not have long and they need to run with more than one option. Relying on the drill is another cross fingers moment. Superimpose Joe and you have significant risk. The last 6 weeks have been wasted when time is short; or JP was not being straight.

[stuart little] 09/1/2022 11:50

TD, despite the banter my eyes are wide open here. The deep play is extra but clearly very important. So scenarios- exploration permits refused, exploration wells disaster, production permit refused, no cash to drill. Or permits received, exploration wells success, funds ok to drill, min 5 well production project, max 5-20 well production project...one outcome in the coming months will see a price around .4p, one 2p.

[stuart little] 09/1/2022 11:32

I agree with your last sentence, definitely. We need to get moving soon and I believe we will. I disagree with your first point. The potential lender will be far more impressed lending to an already revenue creating business rather than one funded via placings. This is the route we are on imo.

[the diddymen] 09/1/2022 11:18

One or two assumptions there SL. The first is a placing because without it they cannot credibly look to finance the $110+m. Without the scope to invest, the original business plan is not credible.

You need to cross fingers that Joe does not get in the way.

I think that we are all agreed that despite the delay TOM needs the drilling RNS as soon as possible.