Tomco Energy Share Discussion Threads

[fenners66] 28/6/2022 08:41

"the Group are insufficient to fund ongoing overhead costs for the entire forecast period to 30 June 2023. "

[fenners66] 28/6/2022 08:40

Just working through the RNS:-

"TSHII entered into a 10-year lease with a tenant starting from 1 March 2022,"

Why no name ?
TOM might be due a huge $1000 a month from this.
Though more likely it just pays some of TSHII's costs and TOM see nothing from it. Once again no detail provided on what the 10% confers , revenue or just a minority shareholder and therefore unless a dividend is declared -NOTHIING ?

Vivakor leasing 3 acres ? A very small patch then.

"TurboShale, which is not currently a strategic priority for the Company. " as if we had not worked that out years ago.

Zac now a non-exec AND "continues to be, engaged by TomCo, through his company, Oil & Gas Advisors Limited,"

Double Bubble then.

R Horsman resigned in January - surely as an insider he would be well placed to evaluate TOM's chances ? He walked.....


"secure potential funding of up to US$145 million for Greenfield." They forgot their own presentation shows a funding requirement much higher !

"possible funding options to potentially achieve" - talk , talk.
Whatever happened to the term sheet ?

Just lost another £690k then


"the Group will need to raise additional finance in order to continue as a going concern." no surprise

"requires sufficient additional funding to be raised prior to December 2022 otherwise the option will lapse. Should the option lapse" - LAPSE well at least they have started to advise what could happen.


Ukraine is now part of the problem !

[the diddymen] 28/6/2022 08:01

Nothing on the key financing and a further 4 weeks on the Valkor loan. The one employee of TOM will know that 4 weeks is not enough to put in place so why go through the process monthly?

[fenners66] 28/6/2022 07:27

Announcement

No production before quarter 4

No surprise there then.
Still no source of funds for the TSHII "option"
What happens when they cannot pay by Dec 22 - asked that a long time ago.

[fenners66] 28/6/2022 07:22

100% is supposed to be US$942 million
10% is only supposed to be US$30.5 million

Not sure of the maths of that one.


I guess they are really desperate to borrow another $20m +

and despite the bluster still have gotten nowhere.

[talais] 28/6/2022 07:18

I am optimistic, based on discussions with potential funders to date, that the required funding to implement our plans can be secured in due course

[fenners66] 28/6/2022 07:18

There's that there caveat again

" However, there can be no certainty that Greenfield can secure the requisite funding or the permitting required for such wells."

as they say , you have been warned.

[ducky fuzz] 28/6/2022 07:16

So what will happen to the share price today?

Has rmart got back in to early or was his purchase well timed as usual?

[talais] 28/6/2022 07:16

Sound a bit better,I am optimistic, based on discussions with potential funders to date, that the required funding to implement our plans can be secured in due course.

[ducky fuzz] 28/6/2022 07:14

Wow the interim results forward plans look exciting.

Not surprised that the Valkor loan was extended.

[fenners66] 28/6/2022 07:12

It is really not rocket science ....

as previously posted -

"fenners66
27 Jun '22 - 09:14 - 15080 of 15085 Edit

Why should there be any funding this month?
The Original deal for funding from Valkor provided for this eventuality (expectation) of no funding , which is why Valkor is charging 28%
About $35000 a month

It does not have to be repaid , they just have to find the very high interest....

Death by a thousand cuts."


And today we get the expected
"The terms of the Loan have now been further varied in order to extend the repayment date to on or before 31 July 2022"


But actually this was predicted at the time of the original loan, but the gamblers said we were just being negative.

[busamitch] 28/6/2022 07:07

Valkor loan repayment extended....

[fenners66] 27/6/2022 20:33

"Narrative"

[bountyfull] 27/6/2022 13:22

Many thanks damac - another interesting read

[damac] 27/6/2022 12:37

bountyfull #26996


This is the Proactive Investors report that was mentioned in that video....

[damac] 27/6/2022 12:15

I'm sure the Tomco presentation from Feb. 2022 was also based on achieving 10,000 bopd from the separation plant.

[kdickson] 27/6/2022 11:58

Thanks damac - I'll have a look at that.

[bountyfull] 27/6/2022 11:42

Thanks for an informative post kd.

Your post reminded me of the interview on Proactive Investor 22 November 2021, which can be found here:

The interview talks what the RPC units and the steam/co2 filled wells could do for the share price as long as we see funding and permitting on those those projects. The income will then used to help finance the remediation plant.

The interview is well worth listening to and talks of a potential 10X upside when the share price was 0.69p.

[kdickson] 27/6/2022 11:29

Thanks damac. I forgot to even look at that Tomco presentation! So, my figures are way too conservative if I'm estimating 'only' £50 million based on our plant producing 6,000t sand per day (= approx 2 million tonnes per year), when Tomco themselves are suggesting 56m tonnes. That's 28 times more than my estimated 27p !!! Can that really be possible?!!