Tomco Energy Share Discussion Threads

[vauch] 16/3/2022 13:42

Yes Ducky and Q2 lasts three months

[stuart little] 16/3/2022 13:37

Term sheet received to completion of funds could be a fast process. Once terms are agreed it's a signing on the dotted line exercise.

[ducky fuzz] 16/3/2022 13:35

EASTER is Q2 .. depends if we get the promised terms sheet in Q1.

Q2 starts in 16 days time.

[stuart little] 16/3/2022 13:14

As of just yesterday proactive are stillof the opinion the funding completion is due in Q2. They will have taken guidance on the given dates imo.

[damac] 16/3/2022 13:08

Entirely agree rmart, The large funding package is crucial to us shareholders.

[rmart] 16/3/2022 13:01

Damac,

All good work, thanks.

It just makes the finance for us more critical. Vivakor could not complete so missed the deal.

We have until Dec. It could be the same story again with another company not coming up with the cash.

I know we would retain 10% of TSHII and the cash from Vivakor deal but we would miss out on the millions from the refinery and the 5000 bobd plant, the commercial wells would also be pointless as we would be giving 90% to TSHII.

This is why whatever news is put out we do not have a decent rise as everyone knows it is 100% reliant on finance either for the 90% of TSHII or the full finance for the cort plant.

We enter week 7.

[talais] 16/3/2022 12:39

asphaltic cement upwards of $100 a barrel and it more stable in the market.

[fenners66] 16/3/2022 12:32

The more of the evidence they gather - showing that it has failed to gain traction for years and years.
That those that have failed have lost absolute fortunes over and over, the more they are convinced that
"this time its different "

After all to ensure no waste of time and money TOM has ......

no experience
no experts
a former JV partner that gladly relieved TOM of $1.5m and then terminated the JV
and an option to buy the land at 140x the price of the land next door.

Seems to me that everyone that has tried this - saw TOM coming , with their listing and years of failure and losses and came to see them with tales of greatness, just pay us all your cash .... one day you'll be rich....

[damac] 16/3/2022 12:25

Another relevant bit from that Vivakor Annual Report on page 34.....

"Upon entering into the option agreement, we paid an initial fee of $200,000 and we later exercised the right to extend the expiration date of the option without any additional required payments. The option currently provides us with the right to acquire this property, prior to January 31, 2021, for a total purchase price of $17.5 million."


Why did they not complete the purchase you ask?

Basically, between development costs and debts, they ran out of money, hence the recent need to relaunch on NASDAQ and raise $8m.


Tomco/Greenfield have played an absolute blinder here in positioning themselves with the exclusive rights to purchase 100% of TSII. As soon as the Vivakor option to purchase expired, Tomco/Greenfield made their move.

The fact that Vivakor still want back on site speaks volumes.

[fenners66] 16/3/2022 12:23

Thursday, May 19, 2016,

"In order to solidify a viable operating plan, Vivakor's engineering team will visit MCW's Maeser extraction plant this month for technology orientation, establish a timetable for the installation/operation of their mobile plant onsite and implement an extensive outline of the mining plan for the nearby Temple Mountain Energy feedstock resource"

6 years ago --- that went well then !

[1dutchman] 16/3/2022 12:22

Re Damac: "By the way, and this somewhat answers the broken record claim that I remember Fenners on the Darkside always asking...If TSII is such a good deal/site etc. then why has nobody been interested in it for years? It should be noted that Vivakor were considering taking on the site in 2019, before Tomco/Greenfield got in there and secured it first....." Damac - I don't know how you can put a positive spin on this one. Vivakor has spent more than 8 years trying to get its RPC technology proven. And it is still not commercial. Tomco did not beat them to acquiring TSII. The fact is that Vivakor had an option (2 years?) to acquire TSII and they could not raise the funds in that time. Sound familiar? It would seem Fenners has been right all the way. TSII may have a small mountain of tar sands but no one has yet found a commercial process to extract hydrocarbons from those sands. And no financier has been willing to pay for Vivakor or TomCo to acquire that mountain of sand (and a derelict refinery). The company name and technologies change, but this story has been playing on repeat for years and years. TomCo's Board is only the latest to be beguiled by the prospect of 'a better process'. As Vivakor has recently demonstrated, it won't be the last.

[fenners66] 16/3/2022 12:19

"we acquired an option to acquire surface rights and the approvals to operate on an oil sands parcel of land located in Vernal, Utah, for which an initial fee of $200,000 was paid. Such option has expired, "

Does not say what the final price was - guess it was not $16m

Why did it lapse?
Lets guess no money , no working plant , therefore no income , lots of narrative though....?

[fenners66] 16/3/2022 12:09

I see the La La's are finally catching up - but so blinkered they now see it as a good thing .

Catching up with the news that the clean oil tech - which they thought PQE had a unique monopoly on - has been around in many guises for years.

Given that many have been developing it - and failing to commercialise it for a decade or more - the idea that Greenfield had secured the rights to anything special was farcical.
Valkor saw the writing on the wall , when despite their agreement with PQE they decided against spending any of their own cash on CORT - Tom were persuaded to do that via a JV.

As soon as the cash dried up - Valkor exited the JV , became an arms length supplier and now anticipate TOM perhaps spending $m's more with them.

Meanwhile
in 2015...

"Las Vegas, Nevada-based Vivakor says it has developed a proprietary, environmentally-friendly, oil extraction technology which utilizes no water, no fracking or tailings ponds and returns the cleaned soil back to its origin. Vivakor unveiled its first production-ready mobile extraction unit in 2015. Both parties understand that Vivakor's mobile plant would operate compatibly and independently from MCW's plant"

Ready to go , in 2015 !!

Wake up guys - its 2022 already and still not producing.

Any of these schemes , needs to evidence the consistent running of a plant for its stated amount 250 or 500 bpd over an extended period of weeks.
Not we got 25 barrels out of it one afternoon - then had to shut it down for "adjustments"

As for others having options on the TSHII land - none of them wanted to just dirty drill - why?
Why never take up the options?

[vauch] 16/3/2022 12:07

We anticipate that we will be able to sell our asphaltic cement for, referencing present pricing, approximately $50 per ton.

Was the latest quoted price $500 a tone

[chadwick123] 16/3/2022 12:04

Great research damac, many thanks.

[damac] 16/3/2022 11:57

2nd one relates to their previous stint on TSII in 2019



Page 13 in the link



Vernal, Utah Project

The State of Utah has, according to the U.S. Geological Survey, approximately 14 billion barrels of measured oil in place with an additional estimated 23 to 28 billion barrels of oil contained in contaminated oil sands that are deposited near the ground surface. We believe that the crude from these oil sands can be turned into asphaltic cement for making roads, or upgraded for polymers or fuel. In 2019, we acquired an option to acquire surface rights and the approvals to operate on an oil sands parcel of land located in Vernal, Utah, for which an initial fee of $200,000 was paid. Such option has expired, and we are currently negotiating an agreement to provide for such option to continue. We are continuing to operate on the land, pursuant to an arrangement with the landowner, as we negotiate extension of the option. Vernal is the county seat, and largest city in Uintah County, located in north eastern Utah, approximately 175 miles east of Salt Lake City, and 20 miles west of the Colorado border.

The Vernal property contains approximately 300 million cubic yards of oil sand material available for processing. The property is located on approximately 600 acres. If acquired, we believe that we could ultimately recover as much as 40 million barrels of oil from this property if we are able to economically scale our operations. Each upgraded RPC unit, such as the RPC unit in Vernal, Utah, has the ability to process, at a minimum, 20 tons of contaminated material per hour depending on the oil contamination percentage in the processed material. We believe, based on the number of estimated barrels of oil contained in oil sands deposits located on SITLA property, that there may be an opportunity to deploy as many as 100 RPCs to properties containing oil sands deposits owned by the State of Utah.

Material extracted from our Vernal, Utah project can be sold for energy or converted into asphaltic cement, which we believe is less affected by daily changes in oil prices. With our one RPC unit, assuming full utilization, we anticipate producing approximately 50 tons of asphaltic cement per day. We anticipate that we will be able to sell our asphaltic cement for, referencing present pricing, approximately $50 per ton.

[damac] 16/3/2022 11:52

Couple of interesting Vivakor pieces from their 2020 Annual Report....

1st one relates to the history of their Remediation Process Centres (RPC's)



Page 9 in the link


Hydrocarbon Extraction Technology

In 2015, we acquired and improved technology aimed at remediating contaminated soil and recovering usable hydrocarbons, which we refer to as RPCs. We presently have two US patents and pending foreign applications related to our RPCs. Our RPCs each have the potential to clean a minimum of 20 tons of contaminated material per hour, depending on the oil contamination percentage in the processed material. Each RPC has the capacity to extract on a 24-hour operation 500 tons or more of contaminated material per day. The amount of extracted hydrocarbon recovered depends on the extent to which the material is contaminated. For example, we estimate that for every 480 tons of contaminated material processed per day that contains at least 10% oil, we will recover approximately 250 barrels of extracted hydrocarbons. The above example has been calculated as follows: contaminated material that is 10% oil is comprised of 200 pounds of oil per ton; one gallon of oil weighs 8.44 pounds, resulting in 23.69 gallons of oil per ton of contaminated material (200/8.44); there are 42 gallons per barrel, resulting in 0.56 barrels of oil per ton of contaminated material (23.69/42); 20 tons of contaminated material can typically be processed per hour, resulting in 11.2 barrels of oil per hour (0.56*20); and operations continue 24 hours per day, resulting in 268.8 barrels per day(11.2*24).

We believe our RPCs are significantly more advanced than other oil remediation technologies or offerings presently available on the market. Our RPCs have successfully cleaned contaminated soil containing greater than 7% hydrocarbon content, while, to our knowledge, our competitors are limited to projects containing less than 5% hydrocarbon contamination. We believe our ability to clean soil with higher percentages of hydrocarbon contamination is a distinctive advantage that will allow us to operate on a global basis in any location that has suffered from oil spills or naturally occurring oil sands deposits. While our primary focus and mandate will be on the manufacture and deployment of our RPCs, we intend to continue to develop, acquire or license additional clean energy technologies and environmental solutions that will directly enhance and expand our current technologies and service offerings.

[damac] 16/3/2022 11:33

I wonder if it is still mobile units that Vivakor are using? They say the one in this article is 250 bopd production. Also, interesting that Vivakor were in talks with the Petroteq predecessor way back in 2016 about using this process.

[damac] 16/3/2022 11:25

Vivakor had been interested in the site since 2017....

[damac] 16/3/2022 11:09

By the way, and this somewhat answers the broken record claim that I remember Fenners on the Darkside always asking...If TSII is such a good deal/site etc. then why has nobody been interested in it for years?

It should be noted that Vivakor were considering taking on the site in 2019, before Tomco/Greenfield got in there and secured it first.....





Tar Sands and Vivakor entered into that certain Option Agreement dated July 9, 2019 (the “Option Agreement”), by which Tar Sands granted Vivakor an Option to purchase the Property, the Permits, and the Assets, as those terms are defined in the Option Agreement, subject to the terms and conditions contained in the Option Agreement.

[vauch] 16/3/2022 07:54

If that is he case then it will be held up further, as take off agreement not has not been seen, and knowing Tom they will have another side show to add to the mix.

[goulding1215] 16/3/2022 07:48

I wonder if the funding has been waiting for this all to come together before signing?

[ajj2003] 16/3/2022 06:26

Tweet from Dr Ryan D. Long. All good PR for Tomco ;)

In my latest note for @proactive_UK I take a look at what 2022 has instore for TomCo Energy plc.

@TomcoEnergyPLC


Read the note for free here: hxxps://proactiveinvestors.co.uk/companies/news/976834/a-year-to-transform-tomco-976834.html/long

#mining #metals #stocks #invetsing #oil #TOM $TOM
proactiveinvestors.co.uk

A Year to Transform TomCo
TomCo Energy has kicked off the drilling of three exploration wells at the Tar Sands Holdings II (TSHII) site, located in Uinta Basin, Utah....

[damac] 15/3/2022 22:07

Well spotted Rugrat2, I hadn't noticed the blip in this report. As you say, it clearly says 'cores' and not 'drill depth' in the RNS.