Tomco Energy Share Discussion Threads

[fenners66] 25/1/2022 13:31

Sells really kicking in today .....Again.

[stuart little] 25/1/2022 13:16

Fenners, the additional funds in that figure are to cover the 90% purchase of TSH2. I'm no longer saying whether this will happen just pointing it out for your information. Loppy, I think shareholders will maybe calling an EGM before the receivers. Possible fatal mistake was made yesterday in my opinion. Regards

[lopodop] 25/1/2022 12:50

Unless and until Groat starts to act like a seasoned Chairman and tells investors what on earth is going on in this hapless company, that means keeping investors fully in the loop, not telling us one day that Horsmann has left immediately and the very next day he has received £30k etc etc, the market will not take kindly to his reign.
Unfortunately he Groat is unlikely to change and so investors will continue to be treated like monkeys in a cage. Ok he probably blames JP for some of the problems - this cannot go on and on. Probably Horsmann and Kirchner left because they would not put up with the situation, NOT as RMART suggests - they were useless.
Now Groat and JP are in a very tight corner and time is very short too to turn this show around. If they are not able to deliver TOM should call in an experienced receiver and reconstruct TOM into a viable proposition which is feasible.

[hotfinance14] 25/1/2022 10:52

Due to the 6 month delay I can see this heading towards 0.35p.

[fenners66] 25/1/2022 10:14

"goulding1215
25 Jan '22 - 10:08 - 25048 of 25049

It is crazy selling now. The company is funded for the next year."



Funded for the last year as well , where has that got them ?
No business , massive losses, more admin costs , directors' remuneration and payoffs - £30k arguably will be tax free rather than getting paid and paying PAYE - commitments it cannot fund , misleading interpretations of drilling in December 2021 which moves to June 2022 maybe;
all depends on other entities - easy to blame someone else - as has been said all along....

So funded for another year of Admin costs - so what ?

[jaynealex] 25/1/2022 10:11

Vauch , if I was you I'd think about some sort of bridging finance , get in at these low prices , when do T20s come into play , for ex petroteq holders

[jaynealex] 25/1/2022 10:08

Yes I topped up at 0.004888

But as the song says .." how low can you go "

This is getting bloody ridiculous now

[goulding1215] 25/1/2022 10:08

It is crazy selling now. The company is funded for the next year.

[lopodop] 25/1/2022 10:05

As has been pointed out, JP has done himself few favours and it could be that he too will receive a payoff very soon - reading between the lines.


,

[lopodop] 25/1/2022 09:51

FENNERS
Castro is a mate of Groat so they are a DUO, both being CA's as you know.

GOULDING1125
The City rewards failure well so it should come as little surprise when directors stay for a few months and do rather well. Groat has a track record in TOM for this sort of thing and one can only speculate that when his time arrives he will do rather well - say £200k or more if the cash is in the tin. With Groat's track record, how long before SH give him the wink - then with fresh eyes a reconstructed TOM can move apace and take itself out of this languishing state and start takeoff!

[andy197180] 25/1/2022 09:50

Fair point and i just had a small top up and average down at 0.4772. Thanks to whoever funded the placing. TR1 expected if a sole entity.

[freedom97] 25/1/2022 09:47

Well done to the those that managed to buy just under the placing price.

So no one can complain they weren't asked if they wanted to take part in the placing as they could buy now just under the placing price.

Looks like someone is desperate for dosh so selling their holding.

[goulding1215] 25/1/2022 09:09

Well done TOM BOD, virtually back to where we started. I thought directors were awarded bonuses on success in increasing the share price not decreasing it. Get cracking and get the share price moving back up.

[fenners66] 25/1/2022 09:01

"jaynealex
25 Jan '22 - 08:45 - 25043 of 25043
Well we'll never no the exact details
But on a positive note it's like a share buy back for less than today's price"


Sorry have I been reading Viz all along ?

Paying out £30k; for a company that has to approach shareholders for money for the petty cash tin; is better than getting £40k in !!?

Totally barmy....

[fenners66] 25/1/2022 08:57

Louis Castro joined the board as a non-executive director on 19 April 2021 and qualified for 2x as many options as Horsman 2 months later.....

[jaynealex] 25/1/2022 08:45

Well we'll never no the exact details

But on a positive note it's like a share buy back for less than today's price

[fenners66] 25/1/2022 08:39

So 90,500,000 options were issued 23-6-2021 at 0.54p
85,500,000 to directors and 5,000,000 to an "employee of the company"

Horsman was clearly highly valued as he was granted only half as many options as the next highest director.


Price: 0.54 pence
Volumes:
John Potter - 45,000,000 Options
Malcolm Groat - 18,000,000 Options
Louis Castro - 15,000,000 Options
Richard Horsman - 7,500,000 Options

[lopodop] 25/1/2022 08:28

Surely the placing party will be extremely sore to find that £30k has just been chucked away for no reason and will wish to examine how this ailing business styled TOMCO is operated.

[fenners66] 25/1/2022 08:26

This attempt at spinning good news out of bad is , laughable and ignorant.


"rmart
25 Jan '22 - 07:59 - 25041 of 25042

maybe they think it was cheap at 30k to get rid of them. If the next 6 months live up to what should be it will be a good decision. IF."


Cheap at 30k to get rid of the warrants which were issued 23-6-2021 exercisable at 0.54 pence each ??!!

So instead of potentially receiving £40,500 they are paying £30,000 - how far departed from logic can he go?

[lopodop] 25/1/2022 08:17

STRAND H were consulted by the Board over the £30k payment. Bearing in mind Horsman's options were of little or on value, how did that firm go along with the story that £30k was the value for surrendering the option rights. Perhaps STRANDS had other issues on their mind.
STRANDS claim it was fair and reasonable in the interests of shareholders. Well they may like to know all the evidence points to it being wholly unreasonable and wholly unfair and such payment should be cancelled / repaid out of respect for shareholders here.

[talais] 25/1/2022 08:04

DDthey know the oil is now there in vast quantities, but now they have to prove that they can produce 100 bopd plus from each well, and the wells are easy to drill, the leader will need for security for the loan. Because if all goes wrong Tomco have no way of paying the loan back,I think now theses wells will be drilled very quickly, gla

[rmart] 25/1/2022 07:59

maybe they think it was cheap at 30k to get rid of them. If the next 6 months live up to what should be it will be a good decision. IF.

[lopodop] 25/1/2022 07:58

The other director Kirchman who left last year received a consultancy of £30k for not being a non exec.
Who gave TOM the financial / tax advice for the directors' severances? Certainly not BDO the independent auditors .... or did they in which case it may be argued that firm is not acting independently.
It is a good job that investors in TOM, DESPITE a multitude of healthy disagreements take the moral high ground when compared to TOM's disingenuous and questionable remaining directors.