Tomco Energy Share Discussion Threads

[ajj2003] 31/5/2022 15:29

Totally agree damac and it will also be interesting to see the flow rates from the in-situ wells. This will allow the in situ wells vs CORT plant numbers to be crunched in more detail.

If the numbers are in favour of in situ wells at this early stage, then the program can be quickly expanded, providing fast and substantial revenue streams. A strong bank balance alongside Vivakor’s plant revenue, from oil (3%) and in particular the sand (50%), will give Tomco much more scope for future finance negotiations.

Plus of course we still have the $30k a month from the three deals for beer money ;)

[vauch] 31/5/2022 15:03

Most likely but my PQE pay out wont now find it way in this as I have other use for the cash.

[damac] 31/5/2022 15:02

AJJ2003,

Re your post #26832 and your comment about establishing Tomco as a going concern and setting foundations for income streams....

For me, this is priority right now, not the funding for the planned oil separation plant. Securing the funding for the production wells and bringing them to production provides an income stream that secures the business as an on-going concern. No more concerns about having to go to market to raise funds for general working capital etc.

It makes a lot of sense to firm up a major income stream (which the in-situ wells will be) before finalising any funding required for the oil separation plant. Potential lenders for the oil separation plant would obviously look at the risks of getting their money back on any agreed terms. If a lender can see a definitive substantial income stream elsewhere, such as the in-situ wells programme, then they are likely to be more comfortable in lending a large amount of finance.

Having that income stream established would also open up many more options to Tomco/Greenfield in terms of their business strategy going forward, for example potentially not taking on as much finance for a separation plant as previously envisaged, basically being able to renegotiate from a stronger position etc.

[ajj2003] 31/5/2022 14:05

I am sure Tomco will have revenue streams in play well before your Petroteq payout comes through Vauch ;)

[vauch] 31/5/2022 13:43

Cant see other investors catching on until Tom finally get something up and running.

[goulding1215] 31/5/2022 12:53

WTI now $118.5. Tomco is going to be worth a lot more in the future when investors catch on.

[stuart little] 31/5/2022 10:16

"The core of the company relies on financing of the strategic objective"Wow, brilliant simply brilliant.

[the diddymen] 31/5/2022 10:08

Stuart probably best not to equate the two companies but I do agree that there is a similar characteristic of optimistic time lines.

Frankly that RNS as Fenners points out above was a load of drivel and it buys 4 weeks.

The core of the company relies on financing of the strategic objective (aka existence) and shareholders are given this:

"We are also advancing the previously announced due diligence exercise being undertaken by a potential financing party currently interested in backing our plans for Greenfield, together with other matters in relation to the TSHII site."

Frankly nothing can be ruled out and nothing can be ruled in.

[wilson2] 31/5/2022 09:23

What they are saying without saying is there's NO oil of any substance, soz for wasting your time and money

[thesageofsaint] 31/5/2022 08:45

The house of cards has had another level added. What an absolute ruse this is. The story is now so fantastical it is beyond the analysis of a reasonable mind to conclude all is not designed to deceive. There is ultimately no practical progress to be had. You see, irrespective as to whether you believe there is any viable hydrocarbons beneath the Pilsbury Dough man's feet, there is no available capital to progress whatever ridiculous plans they come up with. Never once has this entity been able to raise conventional capital from any finance institute. This is not going to change. They only have dopey shareholders or these peculiar inter-company arrangements with equally dodgy entities which ultimately resolve down to yet another cash call from the equity holders. Nothing will change. Story time, passing time , dilution time: repeat.

[fenners66] 31/5/2022 08:44

The only reason that RNS was released was that the loan was due for repayment and clearly was never going to be paid - but had to have a formal RNS to say so.

The rest of the rubbish was worse than a schools weekly headmaster's letter.

" The results of this drill programme are currently being assessed " said nothing there
"the Board also met with the Company's local professional advisers and were able to view some of the cores recovered from the exploration wells, which are being stored at the Utah Geological Society's core store"


reads as " some of the students had a geography field trip to the museum for a day out , that had to bring packed lunches...."

[lopodop] 31/5/2022 08:01

Vauch
Nothing much can happen before AGM if indeed afterwards.
Reading between lines,non execs could be feeling more than exasperated by JP's promises - could be his last throw. JP may after all be a thorn in their side and they sense personal reputational damage which could be catastrophic! Perhaps the so called big investors have had enough too.

[danmart2] 31/5/2022 07:58

Awful update , no progress, no plans, no deadlines, no clue

[thesageofsaint] 31/5/2022 07:57

What a load of obfuscating tosh. Jam tomorrow blah blah.

[ajj2003] 31/5/2022 07:54

We have served out time, now we start to move forward on strong foundations

Onwards and upwards and very similar to a company we know ;)

[stuart little] 31/5/2022 07:54

As you well know these things always, always take much longer than shareholders want. XTR being a fine example wouldn't you say? I mean your judgement could be called into question there, but I don't have as much time to waste as you....all the best. I'll be back to comment when there is something to say, in the meantime you keep up the regurgitation.

[ducky fuzz] 31/5/2022 07:50

I suppose being a Forest supporter you are always going to be optimistic.

[the diddymen] 31/5/2022 07:48

On the contrary W2 it is what isn't there that is interesting.

Where are the Valkor loan terms. What have shareholders signed up to? Given that the land purchase was going to be part of the overall financing package, where is the financing package? The 30 May 2022 loan agreement was arranged to give TOM the time to sort out the financial structure of the business. The timescales were agreed, why have they slipped? The three wells were an afterthought and, from what was said, should have been relatively easy to establish heads of terms subject to etc given current oil prices. What are the problems causing the delay?

As I said yesterday plenty to go wrong here and it will not take too much for the narrative to implode.

[ajj2003] 31/5/2022 07:48

Steady progress, everything moving in the right direction, number of wells increased from five to seven, meeting with off-take partner and board visit to Utah.

Maximum four week extension to Valkor loan so major news incoming shortly which will establish Tomco as a going concern and set the foundations for income streams this year.

[damac] 31/5/2022 07:48

Just thinking, with the news that they are increasing the initial wells from 5 to 7. As far as we know, the exploration cores were all taken from the area initially planned for only 5 wells, there was no mention of additional exploration wells being drilled elsewhere. Increasing the number of wells in this area indicates a larger oil bearing formation being present than previously thought. I’m expecting good news from the mentioned updated reserves report from Netherland Sewell.

[ducky fuzz] 31/5/2022 07:46

Well thar was nearly a very good RNS.

[lopodop] 31/5/2022 07:44

We look forward says JP - how many times has he used that phrase ? And so do shareholders!
But shareholders will be taken for a ride once again - blithering nonsense and drivel!

[wilson2] 31/5/2022 07:30

Nothing in that rns to get excited about nothing at all , just another time wasting excuse to investors

[damac] 31/5/2022 07:25

Agree Stuart.

Reads to me that everything is pointing to funds being secured for production wells, repayment of Valkor loan, and purchase of remaining 90% in Tar Sands Holdings II LLC by the end of June.