Tomco Energy Share Discussion Threads

[jaynealex] 01/4/2022 07:42

Stuart ..the we still exist without the large funding was the salient point for me on my first skip read too

[stuart little] 01/4/2022 07:37

I'm fine with it Diddy. Accounts for these revenue seeking AIM stocks are generally bleak and better once out of the way! It gains going concern status from the auditors and highlights a plan should the raise fail (which they repeated say they are confident of achieving)

[the diddymen] 01/4/2022 07:33

A bit late this morning but I will eat half a hat.

Write offs as expected.

No funding as expected.

Going concern - but have demonstrated 12 months operating cash or ability to raise cash. Not expected without further demonstratiion of where cash is coming from. The relevant question may be what is the definition of 'operating', 'existing' or 'developing the business' don't know.

[stuart little] 01/4/2022 07:30

12 months going concern. The forecast, which includes capital expenditure committed at the date of this report, indicate that the Group needs to raise additional finance in April 2023 in order to continue as a going concern.

[stuart little] 01/4/2022 07:27

They do say a number of times they are confident of raising the funds, however to satisfy the auditors they need to show a back up should the raise fail. They now have a business model that includes that. Auditors satisfied.

[fenners66] 01/4/2022 07:26

This is telling

They disclose a table of director's remuneration
But it does not total up how much each received or even the total of them all !

Clearly too embarrased to tell

How about JP £213k ?

The cost of massive losses delivered !

[stuart little] 01/4/2022 07:21

They don't though. They have a lease to cover the deeper drills retaining 88% revenue. That could "kick it off".

[fenners66] 01/4/2022 07:20

Retained deficit £ (28,688) k

Trying their best to catch up with PQE et al

[vauch] 01/4/2022 07:19

What ever happens they need to purchase the 90% to kick it all off

[fenners66] 01/4/2022 07:19

SL are you starting to accept that even raising $16m is a long shot ?

[fenners66] 01/4/2022 07:17

Only LOST £10,291k .....
Going well then

Bought the remaining 20% of Turboshale

"nine Utah oil shale leases covering approximately 15,488 acres. These assets have been impaired in full on 30 September 2021"

Then wrote licenses associated with it off ?

Impaired £8,2857k

Anyone who read my posts almost a year ago may remember my questioning whether an impairment of those "assets" was on the cards.

The idea was dismissed by the rampers on the La La thread - and look - it happened.


When are they going to realise its , cold hard realism on this thread ?

[stuart little] 01/4/2022 07:15

This is interesting. It's what I've been saying. Yes it curtails the business but still generates $8-10m a year revenue. No doubt in there to secure 'going concern' status. "If the funding is not secured, our current business plan would be curtailed, but a viable project, albeit a fraction of the size"

[fenners66] 01/4/2022 07:08

Opens the door to possibility of not gaining the very expensive 90%

"If the funding is not secured, our current business plan would be curtailed, but a viable project, albeit a fraction of the size"

I asked the question a long time ago - what happens when they do not buy 90%?

[the diddymen] 31/3/2022 21:54

I will define the type of proverbial hat that I am wearing at 07.01 tomorrow a.m, albeit that I am confident.

[ducky fuzz] 31/3/2022 20:25

TSHII Drilling Update

Further to the Company's announcement of 10 February 2022 that the permits required from the Utah Division of Oil, Gas and Mining to drill three exploration wells on the TSHII site had been received by Greenfield's wholly owned subsidiary, AC Oil LLC, the Company is pleased to report that the drilling of such wells has now commenced.

Initial results from the drilling have met the Company's expectations, with confirmation that no water was encountered in the target formation. Approximately 120 feet of cores have been produced so far from the first well drilled (AC1) and 80 feet of cores from the second well (AC6). The third well (AC2) is expected to be completed next week, following which tests will be conducted to confirm the oil saturation.

=====================

If the 3rd drill was completed "next week" that would have been buy the 18th of March. So 2 weeks tomorrow.

Can't be long till results are available. Might they hold on to them until funding is complete?

[wilson2] 31/3/2022 20:12

House prices gone through the roof, a £200,000 house a year ago is now worth £300,000

[ducky fuzz] 31/3/2022 20:11

It was not a professional video. I'd be embarrassed to post it.

[vauch] 31/3/2022 19:45

Is that interview a prep to the takeover not to happen?

[stuart little] 31/3/2022 19:12

In the morning they have to announce an extension, as Diddy has predicted, or issue the chuffing accounts, as I have predicted. They can't possibly say nothing!! Who is eating their proverbial headwear tomorrow?!

[busamitch] 31/3/2022 17:00

Petroteq Interview. ??

[ajj2003] 31/3/2022 16:26

Cheers rmart had not spotted that ;)

[ducky fuzz] 31/3/2022 16:26

Hi rmart .. I reckon that trade was either a buy or a sell from yesterday as you can still sell over 1 mill at 0.51p

[vauch] 31/3/2022 16:21

Most likely to get it tomorrow, as it is the 1st April

[rmart] 31/3/2022 16:05

someone dumped 7m, probably not confident of results coming.

[stuart little] 31/3/2022 16:03

You don't generally pick and choose. You stick to the given regulations.