Tomco Energy Share Discussion Threads

[ducky fuzz] 13/1/2022 10:13

The real online price is currently 0.63p sell and 0.65p buy so our share price has gone down after this RNS. DF

[ducky fuzz] 13/1/2022 10:10

I agree with Stewy L .. Would have much preferred the Resource Report after
or with the drilling dates and finance. Totally wasted on its own. DF

[rmart] 13/1/2022 10:06

JP had said finance should be sorted Jan I think? So maybe this is the first of a few announcements? The finance will result in a few 100% rises imo.

If they can’t get it for a while then we may be a small producer from the shallow wells for a while which is still a massive improvement on the past.

Even 10 wells at 100bopd is a very nice income and keeps everyone happy.

[stuart little] 13/1/2022 10:06

Not had time to go through it as thoroughly as others yet, will do later. First thoughts - putting this out without news on the exploration wells is backwards. That said, from my reading (happy to be corrected) this report doesn't take into account the deeper play. Only the 'mineable resources'. So how much can we add for the drilling campaign? Let's drill and find out!

[jaynealex] 13/1/2022 10:02

In the billions and that is just this lease !!

[rmart] 13/1/2022 09:56

No, they need the permit that is all

[talais] 13/1/2022 09:50

Would they have needed this report before drilling could start..????

[ajj2003] 13/1/2022 09:40

All set to move forward with interest as the remaining pieces of the jigsaw fall into place ;)

[fenners66] 13/1/2022 09:38

Gusto just raised $150m from Softbank and others...

So there you go its easy.

All they needed was 500 employees and revenues in the $100's of millions and voila they cracked it...

[fenners66] 13/1/2022 09:23

"None of the costs were escalated for inflation. "

Ha Ha Ha, inflation in the USA highest since 1982 but we didn't bother to factor that in.....

Wonder why not ?

[freedom97] 13/1/2022 09:22

"Commenting, John Potter, CEO of TomCo, said : "We are delighted with the findings of NSAI's Report. The Report serves to confirm our view that the TSHII site contains substantial economic resources, both in terms of oil and marketable sand, that we are focussed on seeking to exploit."

[rmart] 13/1/2022 09:19

Very good report, shows the potential value and for now it has stopped the share price dropping back further.

Again spoiled by the funding statement (probably unavoidable) and no indication of how funding talks are progressing.

It does however show where the share price will go once funding is sorted. The potential incomes from oil products and sand is in the billions. share price should be multiple what it is now.

No mention of funding for the 3/5 wells and the permit??? Hopefully this will be very soon on the back of this announcement.

[fenners66] 13/1/2022 09:18

"In the first half of 2021, Greenfield operated Petroteq Energy Inc's existing oil sands pilot plant at Asphalt Ridge,"


Alternatively:

After massive delays , spending $1.5m on Petroteq's plant and operational troubles , months behind schedule and never achieving the target of 500 bpd , Valkor our ex-partner in Greenfield , who no longer want to be on the hook for funding as a partner , but whom are prepared to work for us at arms length under a profitable for them commercial deal , finally managed to get some oil out of the process.

Our 1 man band , without that plant , without having any in house capacity now wishes to raise $150m , please....

[goulding1215] 13/1/2022 09:07

Again, I don’t think that you can put too much into a reserves report, we need more information in future rns’s. They have had long eough. If the Board took the long Xmas/New Year break, whilst JP was back out to Utah, I will not be happy.

I imagine that Proactive Investors will soon have a report out on those figures.

[ducky fuzz] 13/1/2022 09:02

Every RNS we get leaves us with more questions than answers.

[ducky fuzz] 13/1/2022 09:00

Surprised we haven't heard from the big boys / large holders this morning. DF

[talais] 13/1/2022 08:57

Now tar sands 2 has a value,

[goulding1215] 13/1/2022 08:52

Ducky, you won’t get funding confirmed until reserves results have been announced. That would be normal procedure, imho.

[ducky fuzz] 13/1/2022 08:38

I think we need drilling dates. Some sort of plan and dates when things will happen.
Also permits not confirmed.

Also funding doubts has scuppered any share price rise with this RNS. DF

[the diddymen] 13/1/2022 08:29

I wonder how much that report cost and how much of the delay was because of 'insufficient funds'?

Perhaps one or two in Lalaland will understand why a placing is required.

[hotfinance14] 13/1/2022 08:28

From the RNS I do not read it that funding is needed for the drilling. Perhaps I
am missing something.

[talais] 13/1/2022 08:22

Yes 7 barrows to a metric ton

[ajj2003] 13/1/2022 08:22

Ran out of fingers and toes working out the numbers