Tomco Energy Share Discussion Threads

[rmart] 17/3/2022 06:59

No surprise there.

[damac] 16/3/2022 23:26

Ducky,

Previously the report said “Secure the permits for production wells - Q122”. It has now been changed to H122.

[lopodop] 16/3/2022 21:29

1Dutchman
Financials may answer some questions. In the meantime, the persuaded remain expectant.

[ducky fuzz] 16/3/2022 21:26

damac .. may I ask what the difference is between Q222 and H122 .. surely they are the same?

[stuart little] 16/3/2022 20:45

I thought it odd to quote Q1, literally a couple of weeks, for the permits when the exploration wells are not complete yet (might be now). H1 has clearly always been the plan. Thanks for highlighting the correction.

[damac] 16/3/2022 20:40

Just been reading through the RNS again and just noticed another example of why you should always look at the meaning behind specific statements.

The statement I refer to is this...


"In exchange for its services in respect of the enhancement of Vivakor's plant, Greenfield would be entitled to receive 50% of net revenues received by Vivakor for any post-processed sand material from the plant sold through offtake agreements procured by Greenfield."


The question you should be asking yourself is... The sand revenues are a massive aspect of the agreement with Vivakor, isn't it then a massive risk for Greenfield to be willing to accept sand revenues as payment if they do not have any sand offtake agreements in place?

The answer is obviously that Greenfield do not view this as a risk as they either already have offtake agreements in place, or at least already agreed in principle.

[fishyneck] 16/3/2022 20:34

It appears the new analyst (Ed has gone to pastures new) quoted one of the dates incorrectly on the report. The receipt of production permit date has been corrected in the report to H1 from Q1. This is what was originally expected. All other dates, clearly now double checked, remain the same.

[1dutchman] 16/3/2022 18:58

Sorry. My cynical cup runneth over.

[1dutchman] 16/3/2022 18:57

With all due respect to ZP, he is a one-man shop out of Lingfield. He is on the board because of his relationship with Castro. Cosy. He was contracted to source financing before his board appointment, so we can assume he is on a retainer. Castro looking after a mate. Never mind that no one in the oil industry (at this level) provides retainers. Not for the last 5 years. So well done, Zac. That said, is it not a conflict to both draw a board fee and a finance retainer? It would have had to be approved by the nomad, so it must be in the interest of shareholders. Never mind that Castro himself used to be a nomad. Small world. Cosy. No doubt Zac is working this hard, as the success fees on the full financing will keep him in claret for a year. Looking at his self-styled background, Zac has years of experience in financing oil and gas. But as we all know, this is not a typical oil & gas project. This involves new, unproven extraction technology, which in turn requires guarantees by the technology provider or a substantial dilution of equity by the financier/risk taker. Is ZP up to this? If not, then both he and Castro (and Groat) are done for. Perhaps the above assumptions are all wrong. But these three have now all been resident on the board long enough to be entirely responsible for the decisions that have put TomCo where it is. Will they do the right thing if this financing doesn't come through?

[lopodop] 16/3/2022 17:17

Taking the point about share price, many chairmen would be deeply concerned to be in Tom’s wobbly share price situation.
This serves to flag up the inexperience of the team or a cavalier attitude generally. Both are warnings!
Wasn’t Castro brought in to mastermind the finance because of his extensive expertise so what is he up to if ZP is masterminding the plan.

[the diddymen] 16/3/2022 16:57

Stuart - it looks as if the drilling will be extended (my reading). Not sure if it will go sub 5p, but it will delay the disposal and potential investors do not like that.

It does look as if there are serious negotiations going on in Kyiv/Moscow. Hopefully it will bring this unwinable war to an end - and that will also have ramifications on stocks like XTR. (Not wanting to make light of a war)

[rmart] 16/3/2022 15:33

yes, but that is hardly an issue if the funding is secured. We will properly multibag anyway. The funding is EVERYTHING now.

[talais] 16/3/2022 15:27

Ok, so they will issue 29% more shares??

[rmart] 16/3/2022 15:18

they wont take 29% of the shares in issue. More shares will be issued, upping the number of shares in issue.

They dont get it without full funding though, so I wonder what will happen if they just go with funding to buy the 90% and stick with the Vivakor deal, refinery deal and shallow drilling for production.

[stuart little] 16/3/2022 14:56

Yes Diddy that statement has lead to frustration by many, not so myself. It was his expectation and it hasn't materialised. I'm long enough in the tooth to foresee such things and not get my knickers in a twist. Still watching XTR, might have a dabble if it weakens under 5p.

[the diddymen] 16/3/2022 14:52

...just accepting the CEO at face value. He said that it would take a couple of weeks to get the heads of terms.

However good the project this will be hard work for Zac Phillips. The technical risk and organisational risk (one man) is massive.

In my view it is many bridges too far. Delighted to be proved wrong.

[talais] 16/3/2022 14:35

Just me getting frustrated, with all the good news we have had , and we still can't brake out of theses levels,When funding is announced valkor will take 29% of the shares in issue, if they hold their shares it will get very interesting,

[stuart little] 16/3/2022 14:35

Diddy, Zac Phillips (highly respected) has been tasked with brining in the funding. I believe he had been working on it for many months. To imply it's a 2 week process is a little silly don't you think. All the best.

[the diddymen] 16/3/2022 14:31

....and TOM's one employee is going to wrap up a financing plan fpr $175m (where the lender takes all the risk) in a couple of weeks.

Lala Land stuff.

[ducky fuzz] 16/3/2022 14:27

Hi Tal .. Of course we have our share of traders and when they see the share price stall they sell up and move on to something more exciting. They and many others will be back if or when we get the funding sorted. DF

[talais] 16/3/2022 14:09

And the sell's keep coming, though we be in the 70s buy now,

[ducky fuzz] 16/3/2022 13:56

Hi rmart .. have you looked at POLY in these moments of boredom? Its on my watchlist but too risky for me with its Russian links.

[rmart] 16/3/2022 13:49

Personally I am sick to the back teeth of thinking/talking about timelines with Tomco.

into week 7 of 2.