Tomco Energy Share Discussion Threads

[fenners66] 13/6/2022 23:07

DF look at the serial failure CLON and how long it took to report the drill results , hours.

As for financing $24m - you do know a likely interest rate - its the 29% that Valkor are charging, though arguably on a loan that large with no collateral , the risk is greater thus why not charge even more interest.

So $580k a month then...

Does that make it seem even more like fantasy now ?

[lopodop] 13/6/2022 20:17

DF With respect what a lot of guff - surely you do not believe this.
But there is positive side as Groach and Castro must read the nonsense written here and if they were/are in any doubt that investors were being mislead by JP THEY SHOULD ACT TO firmly and resolutely dispel unrealistic expectations. Of all people they should know that JP's stated proposition is probably unachievable - in this case they could be seriously at risk personally of being parties to inaccurate statements, likewise the NOMAD if this proves to be the case.
As TD remarks shareholders may already have concluded the financing package is unachievable so what happens. Has JP MANAGED TO jeopardise their integrity?

[ducky fuzz] 13/6/2022 19:24

Hi Vauch .. Firstly we got our last update only 2 weeks ago.

I was pleased to hear damac's opinion which I thought was logical.

He says that there is no point in getting our loan too early as
we will have to pay interest on it.

Say we borrow $24 Mill and say we are being charged 15% .. that works out at
$3.6 Mill a year which is $300,000 a month.

We don't have the drilling permits yet so why would we get the loan early and pay
an extra $300,000 a month?

I'm just using the above figures as an example as I don't know what interest we might be charged. Hopefully 15% is way too high. $24 Mill as a figure has to be quite close if we are doing the Oil sand 5k bopd funding separately.

Secondly we might have our production wells permit delayed or refused and we'd be
left with a $24 Mill loan we couldn't afford and have $300,000 a month interest to find.


Does the above make sense to you?

[ducky fuzz] 13/6/2022 19:23

On 16 November 2021, the Company announced that the acquisition of the initial 10% of the Membership Interests in TSHII had been financed by way of an unsecured US$1.5 million loan from Valkor Oil & Gas LLC ("Valkor") to Greenfield (the "Loan"). The Loan was scheduled to be repaid on or before 30 May 2022, however the terms of the loan have now been varied in order to extend the repayment date to on or before 30 June 2022.

As a former JV partner, Valkor is considered to be a related party of the Company (as defined in the AIM Rules for Companies) and, accordingly, the variation of the Loan's terms is deemed to constitute a related party transaction pursuant to AIM Rule 13. The TomCo directors, having consulted with Strand Hanson Limited, the Company's Nominated Adviser, consider that the variation of the Loan's terms is fair and reasonable insofar as the Company's shareholders are concerned.

TSHII Drilling Update

Further to the Company's announcements of 10 February and 10 March 2022, the Company is pleased to report that the drilling of the three exploration wells on the TSHII site has been completed.

Initial results from the drilling met with the Company's expectations. The results of this drill programme are currently being assessed and confirmed by Netherland, Sewell & Associates, Inc. ("NSAI"). NSAI will then provide an update to its initial TSHII reserves report, as announced by the Company on 13 January 2022, in the coming months.

Additionally, Greenfield is currently progressing the requisite permitting for the planned production well programme on the TSHII site following recent changes to the relevant permit legislation. The Company currently anticipates that the necessary permits will be secured in time for drilling of the wells to commence in Q3 2022, assuming the requisite funding has been secured, with initial production then expected in Q4 2022. The number of wells to be permitted has been increased from five to seven.

Commenting, John Potter, CEO of TomCo, said : "We continue to make good progress with our plans for the TSHII site and are pleased with the positive results we have already seen from the three exploration wells. 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.

"The Company's Board has recently undertaken a site visit to Utah and met with the Valkor team and our sand off-take partner. Whilst in Salt Lake City 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. We look forward to providing further updates in due course."

[the diddymen] 13/6/2022 16:30

Looks like a new low for TOM today.

Shareholders agreeing that the financing package is unachievable?

[talais] 13/6/2022 15:04

I think this will bounce off the bottom now, gla

[goulding1215] 13/6/2022 14:24

Wrong Vauch. For such a large holder, apply some logic. Gov permits - Financing - oil gushing. In that order.

[vauch] 13/6/2022 13:01

I could ask the same question.
Well its like this at .5p a 100% gain takes it to 1p
But now it will take us to .8
And if this continues it will soon be .3 the only .6 on 100%
I'm sur you like me don't want to see another placing that could be at .3 as we will be diluted to near extinction at this point.

[lopodop] 13/6/2022 12:34

For heavens sake DF, of course the share price matters! It seems to be teetering around .40p - what now - DAMAC says apply logic - the finance deal is done and JP is holding back awaiting permits. It sounds wonderful but sadly DAMAC is not known for his accuracy in forecasting. Naturally Vauch is at the end of his tether having placed utmost trust in this business and share dips are bad indicators.

[ducky fuzz] 13/6/2022 12:06

Hi V .. why does the current Share Price matter to you?

[vauch] 13/6/2022 12:01

Back to placing now, the management have done wonders for the share price
Soon be time for a replacement team

[the diddymen] 13/6/2022 11:14

The 99999 shares traded.

Confused with the 999 of the emergency services? I could understand it.

[ajj2003] 13/6/2022 08:30

Quadrise news and moving projects forward.

Material Transfer & Cooperation Agreement

Further to the announcement on 9 May 2022, Quadrise (AIM:QFI), the supplier of MSAR® and bioMSAR™ emulsion technology and fuels, providing innovative lower cost and lower carbon alternatives to fuel oil and biofuels, is pleased to announce it has signed a new Material Transfer & Cooperation Agreement (the "Agreement") with its client in Morocco (the "Client"). This Agreement supersedes the original agreement with the Client, announced on 29 November 2019.

hxxps://polaris.brighterir.com/public/quadrise/news/rns_widget/story/xpn233r

Addendum to Representation Agreement and Conditional Grant of Warrants

Quadrise (AIM:QFI), the supplier of MSAR® and bioMSAR™ emulsion technology and fuels, providing innovative lower cost and lower carbon alternatives to fuel oil and biofuels, announces that it has entered into an addendum (the "Addendum") to the 2019 Morocco Representation Agreement announced by the Company on 6 March 2019 (the "RA") with Younes Maamar (the "Consultant").

hxxps://polaris.brighterir.com/public/quadrise/news/rns_widget/story/xegvlyw

[lopodop] 12/6/2022 08:21

DAMAC
Notice how JP uses ‘we’ when in effect he should use ‘I’ - thus making clear he is the sole operative. How frequently is he in Utah - is he a part time sole operative? Does JP have an office here? Who represents Greenfield in US when he is here?

[damac] 11/6/2022 18:02

Ducky.....

"Did damac say he didn't expect funding news until we get the production well permits?"



That is just my thoughts on it Ducky, nothing more, nothing less. I like to apply logic to situations.

[lopodop] 11/6/2022 11:41

Fortunately for JP he knows there are simple souls on the register who will stay the course and do whatever he asks.

[ajj2003] 10/6/2022 22:05

Your opinion of course Vauch but plenty of news to come before any sign of the Petroteq deal may or may not happen.

[vauch] 10/6/2022 21:22

I expect no funding news until the PQE deal closes

[lopodop] 10/6/2022 20:53

FENNERS
Quite what VISTON is up to is hard to assess but PQE shareholders can be reassured the supposed offer will not materialise. As to PQE's value well best to start at zero and then what?
Likewise what value does Greenfield have - ?any ?
Forget the dear old IOM business styled TOM which has a flattering share value for exactly what - anything in particular. Who can explain why there is any share value when there are no assets?
Aside from this how much time does TOM's director general spend in US or rather how much time does he spend here and what can he do all day for the benefit of TOM investors when he is here aside from writing up the occasional RNS which is no doubt moderated by the non execs.

[ducky fuzz] 10/6/2022 17:02

Another week over or is it another "weak" over?

I suppose we all think / expect that we are going to get funding news during one of the next 3 weeks as per the last RNS. That is only 15 trading days maximum.

I certainly hope we get positive news and move onto the production well stage.

Did damac say he didn't expect funding news until we get the production well permits?

[fenners66] 10/6/2022 16:10

From PQE
"The Viston Offer provides that the Offeror will have the right to withdraw the Viston Offer "

or they can extend it , at this rate ad infinitum...

I mean what an opportunity for those that financed PQE this month . they raised $2.5m but with a chance that the providers could more than double their money in the next .... months...

Given that PQE has struggled to make ends meet for years and have had to continually raise finance for years; what a fortunate position for them to be in for once....

No need to perfect and finance an operating business , just offer shares and a "red or black " bet.....

But why do Viston a little known Swiss company run out of what looks like a private house in St Gallon Switzerland want with PQE and why pay so much for a nearly bankrupt company , surely they could have offered a lot less ?

[talais] 10/6/2022 15:44

Looks like there could be a big shift north, gla

[ducky fuzz] 10/6/2022 15:09

Hi Tal .. let's hope so. PQE up 10% at the moment.