Tomco Energy Share Discussion Threads

[talais] 10/6/2022 14:59

All looking good for petroteq take over https://ir.petroteq.com/news-presentations/press-releases/detail/428/petroteq-provides-update-on-recent-discussions-with-viston

[the diddymen] 10/6/2022 12:56

Almost £300 traded so far today.

Nobody buying in at these 'bargain' levels. Likewise no shareholders daring to sell.

[vauch] 10/6/2022 10:24

4 weeks for the next PQE delay

[fenners66] 10/6/2022 09:05

"The drilling of these exploration wells is now scheduled to start in early March 2022."


10th March

"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. "

Completed by the what 18th March ....

MARCH !

Its now JUNE

At least CLON's gamble offshore Australia , you know deep water , drilling over 2800 ft down through the sea floor was all done in a week , with despite the "good progress " message , results published last Sunday saying , nada gas , capped abandoned and moved on......

CLON who have been prevaricating for 14 years over Ghana managed to report much more complex drill results in a week , not 3 months !

[fenners66] 10/6/2022 08:58

When were the drill results supposed to be published ?

[fenners66] 10/6/2022 08:52

Just in case they need any more convincing of how worthless Greenfield is
Valkor gave away 50% of Greenfield for nothing
with the contingency that if in 3 years it got the now $200m to build a fantasy plant
they would have 29% of TOM

Note TOM not Greenfield

But what are we , nearly a year in ?
I'm sure they are not expecting any gaining any shares in TOM

$200m this month, but inflation in the US to be 8% + this month
so
nearer $220m next year
and inflation on engineering projects is traditionally much much higher....

[fenners66] 10/6/2022 08:52

"damac
9 Jun '22 - 11:35 - 26885 of 26898

'IF' there is any equity to be given over to the chosen finance provider it will be equity in Greenfield not Tomco."

This is the kind of naivety we have come to expect from the dreamers and gamblers.
Worse still , some hang on their every word.

Lets assume a mainstream lender wants to lend some cash .... you know a financial institution....
I know it seems entirely far fetched , lets suspend disbelief.

Will they want as collateral..

a, shares in a private company with no liquid assets , 1? employee , no live projects , no income , no access to capital

or

b, Shares in a quoted , traded Plc. which although has almost zero assets and has huge losses, has previously managed to tap shareholders for £ms , so perhaps could convince some more gamblers to do so again, can sell the shares for some value even if they crash to almost worthless .....

Hard choice huh ?

[lopodop] 10/6/2022 07:07

DAMAC
Once again are your recent views based on fiction or has JP had a word with you in which case it may still be fiction rather than fact.

[damac] 09/6/2022 16:32

Ducky.....



Turner Pope - 4,125,000 warrants at an exercise price of 0.4p for a period of 2 years from 08.07.20 - Potential value to Tomco = £16,500

183,000,000 warrants at an exercise price of 0.8p for a period of 2 years from 08.07.20 - Potential value to Tomco = £1,464,000

388,888,888 warrants at an exercise price of 0.9p for a period of 2 years from 30.11.20 - Potential value to Tomco = £3,500,000

[ducky fuzz] 09/6/2022 15:00

I see the that a load of warrants expire on 8 July, only 4 weeks time. Exercise price at 0.8p

Now is TOMco keen that these warrants expire before any news that would take the share price past 0.8p or an share price where it is worth buying these warrants?

From memory it's worth about 3 million cash to TOMco.

Will they need the money?

[ducky fuzz] 09/6/2022 15:00

I see the that a load of warrants expire on 8 July, only 4 weeks time. Exercise price at 0.8p

Now is TOMco keen that these warrants expire before any news that would take the share price past 0.8p or an share price where it is worth buying these warrants?

From memory it's worth about 3 million cash to TOMco.

Will they need the money?

[ducky fuzz] 09/6/2022 14:34

And what animal would that be AJ .. let's hope it's not a Duck [up] ..

Thanks damac.

[ajj2003] 09/6/2022 14:25

Thanks for your thoughts damac, most appreciated as always. Onwards and upwards as they say and achieving those two key timelines this year will make Tomco a totally different animal.

[damac] 09/6/2022 14:17

Ducky, is 'delay' the correct wording to use? We don't know. Take your question for example, if Greenfield are aware of delays at DOGM that are preventing the issue of production well permits....

1. Would it not be prudent good business sense not to take on finance for the production wells until you are sure that DOGM have approved the drilling of them?

2. From a finance payback stance, would it not be good business practise to wait until the money is actually needed before signing on to any finance arrangements i.e. when you have the issued permits?


For all we know, the finance could already be agreed in principal and Greenfield are just waiting on the correct time to sign on to it?

As I have said before, the priority must be on getting the wells delivering an income stream, not an oil separation plant, there is technically no rush for oil separation plant finance at present. The only time constraints that Tomco/Greenfield face just now are buying the remaining 90% in Tar Sands Holdings II LLC (end of Dec. 2022), and repaying the Valkor loan (end of June 2022).

[damac] 09/6/2022 14:01

pooler1....

The wording in the relevant RNS (26th August 2021) was...


"Issue of the Acquisition Shares is subject to Greenfield receiving funds from, or drawing upon, a loan or credit facility in connection with the construction of an oil sands processing facility as specified in the FEED Study dated 21 July 2021 (as amended or superseded) ("Financial Close"). In the event that Financial Close is not achieved within 3 years of the Effective Date no consideration is payable by the Company to Valkor and the obligation to issue the Acquisition Shares will lapse."



Valkor can ONLY take up the shareholding in Tomco when finance has has been secured SPECIFICALLY for the proposed oil separation plant, Greenfield have 3 years to secure the funding or the right for Valkor to acquire their stake in Tomco will expire. It doesn't mention anywhere that 50% of Greenfield would then revert back to Valkor.

If Greenfield say only secure funding for advancing the in-situ wells programme, Valkor cannot yet take up their stake in Tomco.

[vauch] 09/6/2022 13:45

Then they will have to get oil out of the wells and start saving up.

[ducky fuzz] 09/6/2022 13:29

Hi damac .. do you think that the delay in funding is down to the production well permits not being issued yet?

[pooler1] 09/6/2022 12:37

Hi Damac, see what you mean. Thanks

In Valkors interest to get full funding then, what happens if Greenfield only get some funding but not all of it for the plant.

[damac] 09/6/2022 12:27

Yes, Greenfield is 100% owned by Tomco. It was initially formed with 50% shares held by Tomco and 50% shares held by Valkor. Tomco agreed to take on Valkor's 50% in return for circa 29% of Tomco (to be handed over to Valkor on Greenfield securing the finance for an oil separation plant).

If Tomco wish to give up part of Greenfield in return for finance then yes, shares can be issued.

If you were a funder, would you want say a 20% stake in Greenfield (where all the generated revenue is initially going to), or a 20% stake in Tomco who would technically only own circa 70% of Greenfield?

[pooler1] 09/6/2022 12:12

Thought greenfield was 100% owned subsidiary of Tomco?
Greenfield can't issue shares so I bet it will fall on Tomco.
Don't forget this financial backer will be investing its money in AC oil, greenfield therefore Tomco.

[damac] 09/6/2022 11:35

'IF' there is any equity to be given over to the chosen finance provider it will be equity in Greenfield not Tomco.

[pooler1] 08/6/2022 22:49

I expect TOM to issue more shares to the potential financial backer, Tens of millions more at this low price.

If not hundreds.......................

[busamitch] 08/6/2022 20:59

And there's more...

Petroteq Announces Agreement to Reprice Prior Debt Conversions