Tomco Energy Share Discussion Threads

[ducky fuzz] 13/4/2022 23:09

I hope that Vauch makes lots of money on PQE. Although this may be the beer talking. I feel very mellow.

[fenners66] 13/4/2022 21:26

They are still trying to portray Greenfield as needing $115m or $145m

Those figures are long gone and if they wake up to the facts that TOM's own presentation pre highest inflation for 30 years said they would need $175m (minimum) then perhaps they can realise that the telephone numbers involved are far removed from reality for a one man band with huge accumulated losses and no actual business.

[the diddymen] 13/4/2022 21:15

AJJ, get real, $10,000/m is £7.5k/m; it is peanuts. What are Valkor's pay day lender rates going to cost TOM a month?

Equally I would work on the premis that the CORT project is highly unlikely to get funding unless TOM can monetise the drilling; and there seems to be significant technical risk there.

[stuart little] 13/4/2022 20:42

Vauch, I'm still not convinced about the Pqe deal concluding - I really don't believe anything they say or do and this whole scenario looks manufactured to me. That said when do you expect funds should it go through tomorrow?

[ajj2003] 13/4/2022 18:14

Might also be worth noting that by increasing the Tomco share price, it effectively monetises the Valkor asset as they will own 29% once the funding goes through.

Therefore Valkor have a vested interest in making Tomco a serious player as exposure to the stock market gives Valkor another highly lucrative string to its bow.

[ajj2003] 13/4/2022 17:20

Quick reminder of the agreement Tomco have with HSO llc which is worth $10k a month to Tomco.

Worth noting that if HSO progress to production then some of the infrastructure will likely be located on the TSHII site.

‘The neighbour and new partner’ sounds more likely Tomco will pick up additional funds from HSO for use of the infrastructure to me.

TomCo Energy enters agreement with Heavy Sweet Oil

2022-01-26 08:52:00
Heavy Sweet Oil plans to drill near TomCo's project in Utah.


TomCo Energy PLC (AIM:TOM) told investors it has entered into an agreement with Heavy Sweet Oil LLC which will see the AIM-quoted firm assist with permitting and government relations.

The agreement comes ahead of a planned drill programme in an area adjacent to TomCo’s TSHII (Tar Sands Holdings II) site, in Utah.

If Heavy Sweet Oil progress to producing oil it is anticipated that some of the supporting infrastructure will be located on the TSHII site, TomCo noted.

The neighbour and new partner will pay TomCo US$10,000 per month for its services, with a backdated start of January 1.

[ducky fuzz] 13/4/2022 15:51

If the PQE buy out comes off I wonder if any of the money will be used to buy TOMco shares.

[vauch] 13/4/2022 15:37

5 wells at 100 a day each is around $17 mill without the running expenses.
But if we had half that with out the running expenses that would be great.

[vauch] 13/4/2022 15:34

What this co needs is ownership of the entire site, with the funding covered.
All other aspects are secondary

[vauch] 13/4/2022 15:33

Just suppose it is a Valkor play, as they drill one side of the line We have drilled the other.
If Valkor want to run the oil extraction and put in place the infrastructure at their cost and we get 50% of the oil extracted.

[vauch] 13/4/2022 15:19

We will se soon enough.

[ducky fuzz] 13/4/2022 13:46

Vauch .. You are wrong again.

If TOMco are just doing the 5k bopd plant they need $115 Mill .. if they are doing the 5k bopd plant and the Co2 wells then they need $145 Mill.

Do you not see that?

[vauch] 13/4/2022 13:42

But if the funding takes to much longer the cost to build the plant will have gone up

[vauch] 13/4/2022 13:41

Ducky,It has been said before that the wells are nothing to do with the oil sand plant funding.

[ducky fuzz] 13/4/2022 13:39

Hi Rugs .. I think the delay in funding is down to TOMco needing the figures from the exploration wells before they clearly know whether they are going down the CO2 well route as well as the 5k bopd plant.

So I think the funder or hopefully funders now have the Exploration well figures and are doing DD as they say.

So I don't think we will get any more news till a funder has been secured. Do you agree?

[rugrat2] 13/4/2022 13:33

Nothing concrete, but the oilsands industry in Utah seems to me to be fairly incestuous - certainly a small world, and that may just be a trigger point.

[ducky fuzz] 13/4/2022 13:23

You think the PQE deal is significant? Why?

[rugrat2] 13/4/2022 13:21

All the ducks seem to be lining up okay! No one can say for certain until the RNS but I will be very surprised, and not a little disappointed, if it is not confirmed once the Petroteq deal is done.

[ducky fuzz] 13/4/2022 12:53

Hi Rugs .. so do you think successful funding is a certainty?

[rugrat2] 13/4/2022 12:16

There was never any risk Ducky. Tract D is probably the most researched area of oil sands in Utah. The drilling was about getting depths and thicknesses of sands on the edges of the lease to add to the existing data in the Norwest report and being certain that groundwater was not an issue.

[ducky fuzz] 13/4/2022 11:44

We have to assume Valkor know the results of the 3 exploration wells that Greenfield drilled.

We must now assume that the results must have been good otherwise Valkor would not be drilling.

Valkor were being sneaky getting Greenfield to drill first and incur the risk.

Looks good though doesn't it?

[1dutchman] 13/4/2022 10:47

Truly, Fenners, the Petroteq buyout doesn’t make any sense. Why would someone pay crazy multiples for a process that’s never been proven? And if it were to be proven, is easily duplicated by anyone with a mechanical engineering degree and some experience with refining? Given the company’s history, not to mention the financial shenanigans by founder/former CEO Bumpkin prior to his dismissal last year, it all seems too strange to be true. And usually, when something seems too good to be true, it turns out to be false. But maybe, just maybe, Viston is crazy enough to complete this deal. I doubt it, but if so, then happy days for Petroteq shareholders. One of which is Valkor, which did a debt for equity swap several years ago when Bumpkin couldn’t pay his bills. Perhaps the new Valkor website is testament to their confidence in spending their new-found wealth. Happy days indeed. For everyone, that is, except TomCo.

[ajj2003] 13/4/2022 10:01

Agree SL, new Valkor website and whoever wrote the text obviously knows more than is currently being made public. Saves re-writing or updating again ;)

[fenners66] 13/4/2022 09:03

"sd88
11 Apr '22 - 11:34 - 14846 of 14858

F66 - only way Viston could walk"

the if you actually read the PQE statement -

"unless the Offer is further extended, accelerated or withdrawn by the Offeror"

Is it sunny everyday in your world ?

[fenners66] 13/4/2022 09:00

28% and compounding...