Tomco Energy Share Discussion Threads

[cheshire2] 07/3/2022 15:19

With america importing oil you would think they would fast track any company wanting to produce oil/gas

[fenners66] 07/3/2022 15:15

Interesting to read that TOM's website now introduces the risk of water being found instead or as well as oil

"purpose of the exploration wells is to confirm no water"

and if there is ?

Is this the reason why multi-million $ companies that owned the land and the previous drill data , never drilled and went bust ?

After all its just soooo easy this drilling lark as the La La thread would have us believe....

[talais] 07/3/2022 15:14

Yes, just hope this war doesn't cause any problems with the funding,

[ducky fuzz] 07/3/2022 15:11

Providing we get the $145 Mill funding TOMco will make a fortune.

I do hope we get confirmation soon. DF

[talais] 07/3/2022 15:04

Some one said it's quite new, week or so I believe

[ducky fuzz] 07/3/2022 14:58

Thanks Tal.

Anyone know when this new info appeared on the TOMco webpage?

[stuart little] 07/3/2022 14:56

They will test the zones thickness so will be able to make calculations from that data.

[talais] 07/3/2022 14:56

From tomco website AC Oil is drilling 3 (AC Oil 1,2,6) exploration wells of which 2 (AC Oil 1,2) will be converted to production wells once the permits for these have been received. The purpose of the exploration wells is to confirm no water is in the target formation and to accurately confirm the depth (top and bottom) of the target formation. Core samples will be taken which will be tested for oil saturation, as well. Production wells AC Oil 3, 4, and 5 locations, will be fixed during the permitting process. A map for the 3 wells is below

[ducky fuzz] 07/3/2022 14:50

Are we testing how much oil each well produces?

[fenners66] 07/3/2022 14:50

So despite trumpeting the idea they may get a term sheet on a promo video - the La La's now assume as there is no news, it must be because JP does not want to talk about it any more !

FFS - he clearly was trying to make out his "hope" was progress - if he gets anywhere he cannot help himself he would have to tell.....

The rose tinted glasses are strong with this lot !

[stuart little] 07/3/2022 14:47

Yes, one of the purposes of the exploration drill is to check on water. We have history on such things!

[talais] 07/3/2022 14:45

Good to hear he's back in Utah things moving forward,

[ducky fuzz] 07/3/2022 14:44

Thanks do you mean water?

[stuart little] 07/3/2022 14:41

Ducky, the only thing I can say with any certainty is that john is indeed back in Utah. I think he only had 2 weeks back home with his family. I'm sure everyone can make their own assumptions as to why he would head back out so soon. I think exploration drilling news will be with us very soon. Let's hope they don't find an aquifer again! No idea about the term sheet progress, nor should I!!

[ducky fuzz] 07/3/2022 14:25

Did JP go to Utah? Is he in Utah at the moment?

[ducky fuzz] 07/3/2022 14:24

Hi Tal .. There hasn't been much selling. Just no buying.

The last 1,500,000 trade at 0.527p was a buy. Sells at 0.5151p online for 1 Mill.

[ducky fuzz] 07/3/2022 14:19

damac / fishy / stewy / rmart .. a few questions if I may ..

1. Do you think the exploration wells have been drilled? They said they were going to drill them 1st March or 1st week in March. So probably don't need to RNS further.
We know TOMco have enough money to do so.

So is the next RNS likely to be the results from the drilling? I think it only takes something like a week for results to be known.

2. Term Sheet. I don't think they have RNS'd that we will get sight of the term sheet. So they may have had the terms sheet but didn't agree on some points and are still negotiating. What do you guys think?

There is also the other bidders who may have come up with a better deal.

[talais] 07/3/2022 14:06

Hopefully the selling has stopped and we can move back up, I think we will see oil cut from Russia by end of week, gla

[ducky fuzz] 07/3/2022 14:02

Good to see some posts this morning. I thought everyone had sold up and moved on.
The last post was from me on Thursday.

[wilson2] 07/3/2022 13:48

Talais, you're propaganda is worse than Putins

[talais] 07/3/2022 13:31

We might not see terms of agreement, Tomco said they are pushing to get this done, just might get an RNS in next couple of weeks funding sorted,

[ajj2003] 07/3/2022 13:10

Given the current global situation, might Tomco take the opportunity to drill additional in-situ wells as an 'easy' source of extra revenue, given the sky high oil price and demand?

First things first though, time for the update on progress on all fronts.

[fenners66] 07/3/2022 12:54

"rmart
7 Mar '22 - 09:49 - 25959 of 25959

Midway into week 5 since they said they were expecting a term sheet in 2 weeks.
Drilling to start early March means 3 days left for that before we enter mid march."

Perhaps it's time for the La La's to take off the rose tinteds
They may think we are too cautious , negative if you like - but when we give an opinion such as "TOM has a history of missed self-imposed deadlines" , we are not wrong.

[rmart] 07/3/2022 09:49

Midway into week 5 since they said they were expecting a term sheet in 2 weeks.

Drilling to start early March means 3 days left for that before we enter mid march.

[vauch] 07/3/2022 09:09

It matters not how much the oil goes up if we are unable to produce it