Tomco Energy Share Discussion Threads

[ducky fuzz] 31/3/2022 16:02

I would like to see results after funding and exploration well results.

Previous financial stuff is clearly going to be boring at best.

[stuart little] 31/3/2022 15:56

Year end is end September, they need to report within 6 months. Deadline being today. There is special covid dispensation available if required of 3 month extension.

[rmart] 31/3/2022 15:55

AJJ2003, that was the interims. Last yr full results yr came in february.

[ajj2003] 31/3/2022 15:50

Hi SL, not sure where you are going with your last post as looking back at last year, we had an RNS on 01/04/21: TomCo notes Greenfield JV processing ore from new site but no end of year financial results RNS, that came on 22 June 2022.

[stuart little] 31/3/2022 14:35

Diddy, my understanding is that an extension has to be applied for and the market informed. On that basis I guess it's still in the melting pot. A successful extension would have been announced 7am...maybe!! :-) I'm expecting an RNS at close....

[stuart little] 31/3/2022 14:05

I hope the two accountants in the team are frantically putting numbers together for announcement at close. I’m not sure I’m comfortable with the company playing the Covid card for an extension. My business files it’s returns on time, I see no valid reason for Tomco to swerve its obligations.

[1dutchman] 31/3/2022 13:11

Yes, Fenners, you're probably right. It will all come good tomorrow.

[fenners66] 31/3/2022 09:39

1dutchman - wouldn't want you to get cynical about a company that has no active projects, has never made a bean, lost shareholders a fortune and can never achieve self imposed deadlines....

[1dutchman] 31/3/2022 09:26

My guess – and it is only a guess – is that we will soon hear some fantastic news about the exploration wells. And perhaps some vague explanation of the in situ process, though it remains unproven. And given that it is unproven, a normal CPR is not available. Yet we’ll hear that given this new process, multiple wells will produce thousands of barrels of oil in the future, justifying a fundraising for exploitation. The question is how will uninformed investors be taken advantage of by this new game? It seems unlikely that, at a 9mm market cap, Tom is large enough to make the game work. Though it can no doubt be a participant. But for the ‘billionaire’ backers to play their usual game, it would seem there will have to be more public companies involved. If this is the chosen path, it might be fun to watch.

[1dutchman] 31/3/2022 09:23

It is also worth remembering that Valkor now works for new funders. The so-called Canadian “billionaires”. We all know that when Valkor’s pay slip came via Tom, the paymasters were less than demanding. But it is likely that Valkor’s new paymasters will ask for a better return.

[1dutchman] 31/3/2022 09:22

It is worth remembering that, with the exception of RF, the common link to all of these claims is Valkor. And here we go again, it is Valkor that is providing the in situ oil recovery process.

[1dutchman] 31/3/2022 09:22

Is anyone else curious as to why there has been no explanation as to how the in situ oil production will work? It is going to be the ‘saviour’; for the company, create the first income stream, form the basis for raising 10s of millions of dollars - - and yet the company hasn’t bothered to explain the technology. This is the same company that wanted us to believe that CORT worked and could be easily financed by loans. That TSII is worth multiples of the surrounding leases. That someone is willing to pay to renovate a derelict 10tbd refinery with large fees benefiting Tom. That leases signed for the RF process are kept on the books because they represent real value and will no doubt be developed in the future.

[1dutchman] 31/3/2022 09:20

Are the accounts something of a red herring? It is possible the delays are due to the several US subsidiaries that Tom has established, partners coming and going from those subsidiaries, and Tom with only half a man to keep accounts whilst based who knows where? Regardless of the delay, aren't Tom's cash reserves sufficient that JP and Board could hunker in a bunker for 12 months and make do?

[jaynealex] 31/3/2022 08:38

RNS' 7 am , trading starts 8 am

[mikecoster] 31/3/2022 08:30

Tomco have released 2 RNS late Friday afternoon. It was gone 4pm

[stuart little] 31/3/2022 07:31

Sorry I see you say 'no rule', just the norm which I agree with. 7am announcements are most common. I'm having a slow start today!

[stuart little] 31/3/2022 07:27

I'm not sure you are correct there, I believe it to be up to close of business. I may be wrong on this, but it is my understanding of it. RNS's can be issued any time of the day.

[stuart little] 31/3/2022 07:09

Save! Not finished my morning brew yet!

[stuart little] 31/3/2022 07:08

No we aren't. Maybe safe the victory speech until end of business.....

[the diddymen] 31/3/2022 07:07

So we are now into COVID extension time on the accounts. There is very little to audit and nothing that COVID should have affected. The only conclusion can be that they are currently unable to satisfy the auditors regarding going concern.

Three months to sort out the financing of the 90% and the CORT plant then.

[jaynealex] 31/3/2022 07:05

Just jossing ..no upward late day activity, unlikely tomorrow , definitely not Friday ..could be another week gone

[jaynealex] 31/3/2022 07:02

Exhales loudly ...