Tomco Energy Share Discussion Threads

[rmart] 04/2/2022 12:20

ha ha Mike, that will keep them busy for a while.

[mikecoster] 04/2/2022 12:15

A little something for loopy and fenners once Tomco are producinghttps://youtu.be/RywkkwO78m8

[stuart little] 04/2/2022 12:13

From zero chance of funding to an agreement with a funder (binding or non binding) with them pressing for closure by Easter. Shocked you that one hasn't it!

[damac] 04/2/2022 12:10

For anyone that is unfamiliar with the terminology of 'Term Sheet', a term sheet is basically an agreement reached between parties on the heads of terms that the final contract will be based on. A term sheet is agreed first before a final contract is written up because there is no point in a final contract being written up (at time & cost) and then the deal failing as both parties cannot agree on the heads of terms.

The point to note here is that if a funder(s) is/are at the point of reaching agreement on the heads of terms (via the term sheet), that tells you they are confident in the fundamentals of the project and there is a clear desire to provide finance.

[fenners66] 04/2/2022 12:06

Weeks away from a non-binding agreement....

Does that actually mean anything yet?
How about drilling starting first week of Dec 2020 how much did that mean , at the time , and now?

[talais] 04/2/2022 12:05

WTI over $92 not long before we see $100

[stuart little] 04/2/2022 12:02

But looking forwards for a second, it's good news that they have reached that stage? Yes? I guess it is very unexpected to you and taking a while to sink in...

[vauch] 04/2/2022 11:58

Nice to see you posting Fishyneck

[fenners66] 04/2/2022 11:51

I just looked up the phrase "Term Sheet"
Google came up with a "non-binding agreement"

Then I went back to reading Reform Energy Plc last accounts.

What a coincidence (genuinely) what phrase do I read there?

"a Tern Sheet was signed"

Not read past that yet , maybe there is more to be learned about Term Sheets there.

[fishyneck] 04/2/2022 11:51

Hey Ace,

I am currently blowing the dust off my drum as I think it will be getting a great deal of hammer over the coming months.

All the best.

[rmart] 04/2/2022 11:45

its all coming together ace, get ready with the delete button on your posts.

What a fool.

[fishyneck] 04/2/2022 11:25

Great to see John supported on the video with O and G experience and undoubted knowledge! Zac will be a great addition adding much needed weight to the project.

This update will allow a few more placing shares to be flipped (I'm still a bit miffed at how that was executed!) leaving the way to a more sustained rise once the RNS's start to flow on funding, drilling, offtakes and all the other pieces that will fall into place once funding is received, which looks to be a lot closer than many thought. (valkor holding, production drilling, land deal etc....)

fn

[stuart little] 04/2/2022 11:16

Off take agreements due on very high value asphalts/sand/diesel. That's be a great step forwards too.Thoughts?

[stuart little] 04/2/2022 11:15

Fenners, funding thoughts now? Better chance now in your view?

[talais] 04/2/2022 11:14

Also mentioned was an off take agreement being signed in next few weeks. Normally that will have forwarded payment to Tomco. Would that be correct ????

[stuart little] 04/2/2022 11:14

First time one of the NEDs have joined an interview. Great to see. Zac will be a great appointment. Give that man some options! :-)

[fenners66] 04/2/2022 11:12

I don't actually understand the position of the in liquidation Reform Energy Plc just reading about it today, perhaps someone who does can explain.

I can see terms such as "Heads Of Agreement for the sale of the company"

but cannot understand what came of that......what it meant etc.

[stuart little] 04/2/2022 11:11

I held my hands up over the placing. I was wrong. Anyone here going to admit that solid progress looks to have been made on $145m funding by the one man band? If he was kicking cans he'd have kicked it further than a few weeks....thoughts?

[stuart little] 04/2/2022 11:06

I invested for the 5k plant, the drill wasn't a game changer for me but is still a good extra project while the plant is build.Would financial closure be a turning point here? Valkor 29%, production wells funded, 5k plant build, 90% TSH2 finalised. What share price then?

[rmart] 04/2/2022 11:05

BINDING TERM SHEETS......

Oh i cant wait for that. I wonder what will be said here ... PMSL

[rugrat2] 04/2/2022 11:04

The NSAI reserves report has also appeared on the Tomco website:

hxxps://www.tomcoenergy.com/wp-content/uploads/2022/01/TomCo-PRMS-Report-asof-12.31.2021.pdf

[stuart little] 04/2/2022 11:03

He actually quotes "a couple of lenders"...and why not with Zacs quoted figures on sand/asphalt and diesel.

[fenners66] 04/2/2022 11:03

Was the drilling starting first week of December 2020 a game changer as well ?