Tomco Energy Share Discussion Threads

[vauch] 14/2/2022 13:28

YEP yep and true

[ducky fuzz] 14/2/2022 13:02

Are we all expecting the Terms sheet rns this weeek?
Be exciting if it happens but we know TOMco aren't great on keeping to schedules. DF

[mikecoster] 14/2/2022 11:24

Pretty basic stuff really, hard to see how you overlooked it.

[mikecoster] 14/2/2022 11:22

Surely someone as knowledgeable as you would be aware of the Petroteq delay?

[mikecoster] 14/2/2022 11:19

Nope we don't have our money as yet.

[fenners66] 14/2/2022 10:54

Since its the 14th today I guess you are busy buying £50k of TOM shares Mike..... ?



"Mikecoster - 26 Jan 2022 - 09:37:47 - 25117 of 25687 TOMCO - TURBOSHALE - Commercialising Oil Shale Production - TOM
I think the 6th, or 10th Feb

Mikecoster - 25 Jan 2022 - 13:52:32 - 25055 of 25687 TOMCO - TURBOSHALE - Commercialising Oil Shale Production - TOM
I have roughly 68k coming from Petroteq shares coming next month. I intended to put another 50k into Tomco. Never have I known a Company that has the capacity to pull the rug from under your feet like this lot when you least expect it."

You could not possibly have been wrong , could you ?
Takeover has already happened ?

[mikecoster] 14/2/2022 10:36

Brilliant Fenners, I knew you would see the light, good luck with your investment.

[fenners66] 14/2/2022 10:06

I see some optimistic fellow has just bought £5 of TOM shares....

[fenners66] 14/2/2022 10:04

No comments made on the other thread re this post -

"AJJ2003 13 Feb '22 - 11:11 - 25679 of 25686
Petroteq Announces Closing of Equity Subscription"

Given that their hopes are pinned on Petroteq technology surely the very weird nature of the
Petroteq fund raise , adds background and more questions

"The units were offered and sold in reliance on an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws, and were issued as "restricted securities" "

"subject to a Canadian four-month hold period."

But they think PQE is being acquired.
They thought it would have been acquired already but strangely there has been a hitch
PQE needs $750k "net proceeds will be used by PQE on its extraction technology in Asphalt Ridge, Utah and for working capital."

Needed now despite presumed takeover.

If this "looks too good to be true" takeover does not happen where does that leave suspended PQE shares ?

What happens to any agreement with them?

All adds doubt and therefore risk.

For all those on the La La thread -have you ever seen a fund raise by a suspended company that expected to be taken over already where the shares sold are issued as restricted shares ?

Its odd.

[damac] 14/2/2022 08:56

Edit: Already covered above.

[pooler1] 14/2/2022 08:39

Stuart, thanks for that.

I see 10% ownership on last rns now.

[stuart little] 14/2/2022 08:34

It's actually $11k a month until they buy the remaining 90% of TSH2. The recent deal was $10k to TSH2 which we own 10% of.

[pooler1] 14/2/2022 08:29

They also have $10k pm income at present which will go up to $20k from march.

Can someone confirm that?

[rmart] 14/2/2022 08:25

Fully funded for 12 months minimum

[kilijarslan] 14/2/2022 08:22

How is Tom for cash??

[vauch] 13/2/2022 18:31

Why are they raising capital if the company is being taken over?

[the diddymen] 13/2/2022 12:15

Reichsmart getting boringly repetitive I see.

Setting aside the complete migration from fully funded and no placing needed to borrow for the 10% and use the placing to finance the drilling; what has happened to Cantor.

They took the placing - presumably because they were the only ones prepared to take on the risk (aside from existing shareholders not given the opportunity).

They have now sold over 160m shares and the news on the test wells has been announced. At say an average of 0.001p a share, Cantor have made £162k. Not bad for a few days work.

The buyers are probably existing shareholders who were excluded from the placing.

Nice for the usual suspects.

[ajj2003] 13/2/2022 11:11

Petroteq Announces Closing of Equity Subscription

February 12, 2022 7:45pm EST
SHERMAN OAKS, CA / ACCESSWIRE / February 12, 2022 /

Petroteq Energy Inc. ("Petroteq" or the "Company") (TSXV:PQE)(OTC PINK:PQEFF)(FSE:PQCF), an oil ‎company focused on the development and implementation of its proprietary oil-‎extraction and remediation technologies, announces the closing of the US$750,000 subscription for 6,250,000 units of Petroteq at a price of US$0.12 per unit originally announced by the Company on August 4, 2021. Each unit consists of (i) one common share of the Company, and (ii) one (1) transferable share purchase warrant, with each warrant entitling the holder thereof to acquire one additional common share of the Company at a price of US$0.128 per share for twenty-four (24) months. The net proceeds will be used by Petroteq on its extraction technology in Asphalt Ridge, Utah and for working capital. The warrant was originally announced to be exercisable at US$0.12 but was amended to US$0.128.

The units, the underlying common shares and warrants, and the common shares issuable upon exercise of the warrants have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws. The units were offered and sold in reliance on an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws, and were issued as "restricted securities" (as defined in Rule 144 under the U.S. Securities Act). In addition, the securities issuable in the equity financing are subject to a Canadian four-month hold period.

About Petroteq Energy Inc.

Petroteq is a clean technology company focused on the development, implementation and licensing of a patented, environmentally safe and sustainable technology for the extraction and reclamation of heavy oil and bitumen from oil sands and mineable oil deposits. The versatile technology can be applied to both water-wet deposits and oil-wet deposits - outputting high-quality oil and clean sand.

Petroteq believes that its technology can produce a relatively sweet heavy crude oil from deposits of oil sands at Asphalt Ridge without requiring the use of water, and therefore without generating wastewater which would otherwise require the use of other treatment or disposal facilities which could be harmful to the environment. Petroteq's process is intended to be a more environmentally friendly extraction technology that leaves clean residual sand that can be sold or returned to the environment, without the use of tailings ponds or further remediation.

For more information, visit www.Petroteq.energy.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION

Petroteq Energy Inc.
Vladimir Podlipskiy
Interim Chief Executive Officer
Tel: [phone]‎

SOURCE: Petroteq Energy Inc.

View source version on accesswire.com:
hxxps://www.accesswire.com/688527/Petroteq-Announces-Closing-of-Equity-Subscription

Released February 12, 2022
hxxps://ir.petroteq.com/news-presentations/press-releases/detail/414/petroteq-announces-closing-of-equity-subscription

[vauch] 11/2/2022 20:21

But it is just a rumour, or have you been rubbing ya crystal balls. lol

[goulding1215] 11/2/2022 20:06

WTI 93.48 rumours Russia about to invade Ukraine. That may make the Ukrainians happy, if Americans pull out. Aimho

[rmart] 11/2/2022 17:44

Great week, could be even better next week.

[rmart] 11/2/2022 17:44

Great week, could be even better next week.

[goulding1215] 11/2/2022 16:36

Where’s your sense of humour Vauch!

[vauch] 11/2/2022 15:27

Goulding you sound like you need a break, not ya leg I men't a weekend away.

[rmart] 11/2/2022 15:01

well that little shake didnt work. With the full funding BINDING term sheet due anytime you will not be buying at this price for much longer.