Tomco Energy Share Discussion Threads

[talais] 15/3/2022 14:35

From rns, but you never know.The net proceeds of the Placing are currently expected to provide the Company with sufficient funds to cover its corporate operating expenses through to Q1 2023, as well as the costs associated with drilling three exploration wells on the TSHII site, as further described below.

[rmart] 15/3/2022 14:29

YUP, THE RISE ON THAT NEWS GONE AGAIN.

[vauch] 15/3/2022 14:26

So as I see it placing done for the three drills, is another now needed to get the rest done to get them into production?

[talais] 15/3/2022 14:12

Get ready for the bounce, lol

[the diddymen] 15/3/2022 11:40

Goulding1215, I think that the error of JP was to underestimate the significant risk that any funder would be taking on. This is a massive project, even if the technology was bolted down. The heads of terms would never be an overnight job.

In essence any lender is dealing with a one man band. That also represents significant risk if only from the proverbial bus. Behind the lender will be the employees. They buy into the risk at a personal level through reputation of competence.

Even if the Directors dipped into their pockets for eye watering amounts, this would still be difficult and take time.

[goulding1215] 15/3/2022 10:45

On a personal note, I hope every Russiansoldier/mercenerary is killed in Ukraine whether conscript, professional, mercenerary war does not include killing women and children. Putin is the paragon of evil.

[ajj2003] 15/3/2022 10:11

I am sure this point will be made abundantly clear to the directors again at the earliest opportunity.

Did anyone actually establish whether the team sheet news has to be a RNS as the market was already aware of this news through the earlier Proactive Investors interview.

Also IG Index roll over day today so a few games being played as usual.

[rmart] 15/3/2022 09:57

I am afraid that once again the bod are feeding the trolls who are taking full advantage of the fact we are entering week 7 since the 2 week comment.

One thing that is consistent with tomco is the ability to give ammo to the dark side.

[fenners66] 15/3/2022 09:30

"no brainer" .....
as has actually been said on the deluded thread - there is no such thing as an aim no brainer
especially one which only has a history of failure and missed deadlines...

[the diddymen] 15/3/2022 09:26

Lopo as ever the small problem will be working capital.

The last placing will now be owned by the existing shareholders and Cantors have walked away with a very nice profit.

Why did they not place direct and why did the directors not purchase any of the 'cheap as chips' placing?

[bungeetrader] 15/3/2022 09:21

Normal service resumes. So disappointing....
I wish people were prepared to hold a share for more than a few days!

[lopodop] 15/3/2022 08:49

As long as funds permit, TOM's adventures can spin on for years. Look at the length of the directors options - they have clearly hedged longer term. As long as they are paid, what is the hurry. They also are confident that TOM has some very patient investors, who despite gripes, are in this long term come what may and who enjoy the mysteries.

[talais] 15/3/2022 08:18

There seems to be continued selling to keep this down,

[jaynealex] 15/3/2022 08:09

I think so much has changed around them affecting potential prices , cash flows etc , that they've probably had to rejig all the numbers and renegotiate ..in a positive way

[talais] 15/3/2022 08:06

They shouldn't give date's unless they are certain, like the drill was going to be 1st December,

[rmart] 15/3/2022 07:57

since the 2 week expectation of term sheet, week 6 now complete, we move into week 7 tomorrow.

Financial completion by the funders preferred date of Easter is now just 4 weeks and 3 days away.

[the diddymen] 14/3/2022 21:20

It is interesting to note that Vivakor reckon on running the '5000 bopd' plant at 1000 bopd. This suggests that a 5000 bopd plant is a significant rework on the existing prototype. More risk for anyone daft enough to fund TOM.

That might be part of the reason for the delay in the funding heads of terms that were due to be circulated almost a month ago now.

[the diddymen] 14/3/2022 21:13

One or two on the deluded thread are getting a bit ahead of themselves.

Critical at the moment is cash and the only sources will either be conventional crude, or a placing.

By sign off TOM will have to demonstrate the cash or the accounts will qualified.

I cannot speak for the drilling for conventional crude, but if it were so easy why was it not completed historically - there have been many oil price spikes which would have justified the investment.

There will be no $175m financing white knight.

The auditors will be exposed on TOM if they allow the £8m carrying value to be held on the Balance Sheet, and the company then sneezes. There is little prospect of the leases being developed in the short term and they require writing down.

No pressure on JP then.

[ajj2003] 14/3/2022 20:37

Sorry I was referring to the finance package for the plant which will be funded through a number of different mechanisms no doubt.

[vauch] 14/3/2022 16:12

I cant se the oil price surge making any difference as the price could be less that half by the time the plant is running.

[ajj2003] 14/3/2022 15:55

Do we actually know for a fact that the terms sheet has to be put in an RNS when it is received? It has been mentioned in a previous Tomco interview so already in the public domain so to speak.

If so then they are either progressing the funding discussions or renegotiating the deal in our favour, given the oil price surges and future prospect. Either way Tomco keep marching forward with every announcement ;)

[vauch] 14/3/2022 14:52

Well it is about time they actually managed just one