Tomco Energy Share Discussion Threads

[joeblogg2] 28/2/2022 13:26

Surely the price of oil and need to resource from home, Tom now in a very good position!!!

[danmart2] 28/2/2022 13:22

Tomco no finding update?

Are the drill holes still commencing early March ?

[mikecoster] 28/2/2022 12:56

Yes agree totally, at least the second half. Have some links to Kiev and Zaprorzhie myself, some awful stories coming out. If your out there Goulding take care buddy.

[rmart] 28/2/2022 12:52

good post The Diddymen

[the diddymen] 28/2/2022 12:41

Goulding, much as I think that your investing judgement is dire and I have commented on it on many occasions, if you are in kyiv I hope that all is well in the circumstances. Hopefully you left in time.

TD

[the diddymen] 28/2/2022 12:39

Fenners raising the cash was simple. Get a third party to underwrite the placing and then they make their profit flogging them back to the existing shareholders and leave the same people out of pocket and holding the baby.

Signed accounts next.

[fenners66] 28/2/2022 12:30

Its back has always been against the wall.
The fact that it still exists , can raise cash from shareholders (just how?) and still pay director's remuneration is
no doubt deemed by them a success.
How hard can the job be?
No business to run
Negotiate with someone once every so many months
Release a few RNS's about hopes or the accounts
And travel to the US whenever its warm enough or they let you in....

What's not to like.
Keep up the "narrative" and this train can keep going for years.....

[the diddymen] 28/2/2022 11:48

I am not sure what dispensation quoted companies have at the moment for announcing their Final Accounts. TOM's year end is 30 Sep and they will not have long now. (Fenners are you aware of the requirement at the moment?)

The cash should have been wrapped up months ago. They will now be into significant B/S write offs and they still have not sorted cash.

A company should never be taking decisions with its back against the wall.

[fenners66] 28/2/2022 10:56

"the principal amount plus interest and fees amounting to 15% of the principal amount of the loan, payable on the maturity date. In any event, a minimum of US$1.5 million must be repaid on or before 30 May 2022. To the extent that any part of the principal amount has not been paid by the scheduled maturity date (which may be extended by mutual agreement of the parties) then interest of 2% per month shall be applied to such unpaid amount from time to time until it has been repaid in full. "

Principal 1.5m
Fees 15% = 225k

Due 30-5-2022

No test drills started , no oil , only some admin income.
Expect no income to pay the piper so 2% per month due - rolled up and compound interest at 28% pa or $34.5k /month
If only TOM had ever had a business....

[vauch] 28/2/2022 10:46

At the diplomatic meeting between Russia and Ukraine, the Ukraine diplomat should ask Russia if it is ready to surrender.

[goulding1215] 28/2/2022 10:03

Of course, I don’t know, but if we haven’t had the terms of agreement by now, there could be another (and better?) offer on the table? Just a thought.

[ajj2003] 28/2/2022 09:48

Should see a start of drilling update early March as well ;)

[rmart] 28/2/2022 09:42

"Expecting a binding term sheet within the next couple of weeks". On weds that statement will be 4 weeks old so I would expect an update or explanation of some sort.

[the diddymen] 28/2/2022 09:16

Well March tomorrow.

No great surprises that there is no RNS yet on the financing. The note will be on the drilling RNS which should be out shortly. Any delay from early March in the RNS will be relevant.

If Valkor are central to the drilling it will be in their interests to slow everything down because they will be on a nice earner both on the drilling and the pay day lender loan rates (no clue there then).

The financing ps will tell shareholders that it will take a bit longer, but that everything of which they are aware is looking good. It is just that they are not very aware.

Meantime the over exposed should be getting a little jittery.

[mashman] 26/2/2022 22:18

Guinness for me

[lopodop] 26/2/2022 20:02

Vauch
You may need more than a few whiskies. Really will the drilling really start and if so when and by whom? Where is the factual evidence? Ok may be the information breaks Monday but if not what is going on?
Where is / will be the dosh for the land balance, likewise for the plant construction? It's wholly untenable at this moment and the BOD knows it.
Right now they are getting their pay cheques £30k odd for February. The audit is running later than 2021 although there is a month to run but it could still indicate problems with the sign off.
Is there any concrete evidence of a path forward? If you say yes what is it? DF doesn't know it seems.

[wilson2] 26/2/2022 19:14

My birthday is in March whoop whoop

[vauch] 26/2/2022 17:40

Yep it is annoying that's all, but we will be good so just chill with a few whiskies

[fenners66] 26/2/2022 15:06

2 year plan - fantasists.
It took 6 months + to fail to meet a Self Imposed deadline to raise 10% for TSII
Drilling anything is already about 3 months delayed and that was Nothing to do with the original
plan for a cort plant.

I don't think they will ever secure funding of about $200m for one anyway.
They have nothing to offer as collateral
So arguing about 2 years or 20 years is irrelevant
But if they ever get anywhere near it - it would be years more say 3 - 4 minimum.

[ajj2003] 26/2/2022 14:54

Indeed, everything coming together so like you say, sit back and let it all happen. A two year plan should see us all do very nicely ;)

[ducky fuzz] 26/2/2022 14:47

Hi Aj .. A very bored duck at the moment. Bored rather than concerned.

[ajj2003] 26/2/2022 14:45

A philosophical Duck, you do not see many of those around ;)

[lopodop] 26/2/2022 14:18

VAUCH and DF
JP only issues RNS’s when the chairman kicks his posterior. He really does not act like an MD. Should you trust him - give other investors some good reasons?