Tomco Energy Share Discussion Threads

[ducky fuzz] 28/6/2022 15:53

Thanks for your input damac. Your knowledge is appreciated.

Good to see the share price up a bit.

[rmart] 28/6/2022 15:05

STANDARD WORDING AS YOU KNOW

[lopodop] 28/6/2022 14:53

Tallais
Why do the directors caution material uncertainty about going concern. Either it is a going concern or it is not? It cannot be some form of hybrid ie going concern this week and a non going concern next week. If the board doubts which it is you certainly should not be taking the risk which clearly they
will not.
And remember if TOM comes to a full stop, the Board will walk away with impunity and probably some decent payoffs. The auditors could be left to take a hammering from their regulatory body and unwanted publicity.
At the end of the day it is win win and win for them and dear investors lose everything. Is the Board really out of its depth here? Is the RNS Saying as much.

[damac] 28/6/2022 14:51

Don’t get confused with $10k monthly fee, there are two similar $10k monthly fees currently being paid to Tomco/Greenfield and TSHII.

1.The $10K monthly fee to Tomco from H.S.O. that came into effect from 1st January 2022.

2.The $10k monthly fee to TSHII from an as yet undisclosed third party from 1st March 2022.

Tomco/Greenfield are obviously bound by a Non-Disclosure Agreement on the third party lease deal, most likely due to the third party (for commercial reasons) not wishing it to be public knowledge yet that it is they that intend to upgrade the existing refinery on TS2 to then process their oil. Tomco continue to refer to them as "The tenant".

Heavy Sweet Oil however, have no issues with their name being on public view, as per the RNS’s.


From the RNS dated 26th January 2022

“TomCo Energy plc (AIM: TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, is pleased to announce that it has entered into an agreement with Heavy Sweet Oil LLC ("Heavy Sweet Oil"), a US based oil and gas company, to assist it with permitting and government relations in respect of their planned drilling programme adjacent to the D Tract of the Tar Sands Holdings II LLC ("TSHII") site in the Uinta Basin, Utah, United States. Should Heavy Sweet Oil progress to producing oil it is anticipated that some of the supporting infrastructure for their operations will be located on the TSHII site.

The assistance being provided to Heavy Sweet Oil is being undertaken alongside the Company's own work to progress its plans for the TSHII site. Heavy Sweet Oil have agreed to pay TomCo US$10,000 per month for its services, with the agreement backdated to start from 1 January 2022.”


From the RNS dated 10th February 2022

“Third Party Lease

TSHII has entered into a 10 year lease with a tenant starting from 1 March 2022 covering an existing refinery on the TSHII site that is not required for Greenfield's plans and was previously scheduled to be demolished should Greenfield acquire 100% of TSHII. The tenant intends to develop a 10,000 barrels of oil per day refinery on the site and under the terms of the lease has two years in which to do so without potentially forfeiting the lease.

The lease requires the tenant to pay TSHII US$10,000 per month as a monthly rent, together with a further US$3 production rent on every barrel of produced hydrocarbons.”

[rmart] 28/6/2022 14:50

About time we went blue! Didn’t understand the drop. Almost all buys.

[rmart] 28/6/2022 14:49

It is 2 different companies, one has not been revealed yet.

[fadec92] 28/6/2022 14:19

Your saying this is another company thats paying the new $10,000 on top of the other $10,000 HSO are paying? Could defo be wrong but the two statements in the RNS can be seen, what company do you think it is Demac, you know more or just on the statements you are dismissing?Two statements in RNS"The tenant intends to develop a 10,000 barrels of oil per day refinery on the site tenant to pay TSHII US$10,000 per month by way of rent, together with a further payment of US$3 for every barrel of produced hydrocarbons"And"Should Heavy Sweet Oil progress to producing oil it is anticipated that some of the supporting infrastructure for their operations would be located on the TSHII site. Such assistance is being provided alongside Greenfield's own work to progress its plans for the TSHII site. Heavy Sweet Oil are paying TomCo US$10,000 per month for its services"

[talais] 28/6/2022 14:09

Looks like things could be warming up.gla

[damac] 28/6/2022 10:45

Fadac92 is wrong in that it is not Heavy Sweet Oil that is involved in that project. The following is the extent of Heavy Sweet Oil's future operations involving the TS2 site.....


"Greenfield also entered into an agreement with Heavy Sweet Oil LLC ("Heavy Sweet Oil"), a US based oil and gas company, to assist it with permitting and government relations in respect of their planned drilling programme adjacent to the D Tract of the TSHII site. Should Heavy Sweet Oil progress to producing oil it is anticipated that some of the supporting infrastructure for their operations would be located on the TSHII site. Such assistance is being provided alongside Greenfield's own work to progress its plans for the TSHII site. Heavy Sweet Oil are paying TomCo US$10,000 per month for its services, with the agreement backdated to start from 1 January 2022."

[lopodop] 28/6/2022 10:19

Chadwick - let others follow your generous attitude - Potter will be so pleased - he desperately needs the price upped to .70p to preserve his position. Wouldn't you?

[lopodop] 28/6/2022 10:03

Fenners66
Groat was trying to put some icing on the cake so Horsman was invited to lend his name - reading between the lines the latter did not like the set up and beetled off. Likewise the other non exec who got out with a 12 month retainer - most unusual - one assumes to sweeten his memory. But the hardened investors here like RMART BELIEVE TO THE CONTRARY - oh well it's his funeral so to speak!

[chadwick123] 28/6/2022 09:59

Will do, just love a bargain.

[busamitch] 28/6/2022 09:54

Fadec
@Fadec92
·
30m
TomCo Energy PLC

Heavy Sweet oil is looking to build a 10k plant on the old crown site!

lots of future revenue for a £7m MC company.

7 Production Wells.
Vivakor 1k plant.
TomCo’s 5k plant.
Heavy Sweet Oil 10k.

[fenners66] 28/6/2022 09:51

Just looked up R Horsman whom is Chairman of Toople Plc.

Is it telling that their last accounts signed off 22-2-22 gave his resume going back to
2011 ...

But did NOT mention TOM ?

[lopodop] 28/6/2022 09:46

Well said Wilson2. Go on Chadwick pour it in and then go to the AGM to admire the beauty parade.

[lopodop] 28/6/2022 09:41

Fenners66
When it is not your money, caution can always be thrown to the wind. Potter and the rest have no equity to speak of nor will they put money into TOM for very good reasons. Yet they have the audacity to keep spinning the story aided by others. When some of the punters turn up for the meeting, push the BOARD hard and ask them to justify their lack of investment in TOM when it is perfectly obvious they have investments in their other businesses. How long are they prepared to suck money out of TOM when it has no earnings and it is entering into commitments it MUST know it cannot fulfil. Watch the beads of sweat fall off Potter's face and how Groat reacts! How do they have audacity to face scrutiny?

[wilson2] 28/6/2022 09:31

There's always enough money to pay their own salary and that's all there'll be, buy some Chadwick

[goulding1215] 28/6/2022 09:03

The interims provided an update, I would expect that the AGM will put some meat on the bones. The best thing that TOM have done is to have Valkor as a partner, I believe this gives TOM/Greenfield to take their time to put in place all the agreements (and there are a lot of them) to the benefit of the company. Aimho.

Rmart’s post nicely sums up the figures. GLA

[chadwick123] 28/6/2022 09:02

I might just buy some more at this price.

[fenners66] 28/6/2022 09:00

Can you see what just happened there ?

[fenners66] 28/6/2022 08:59

Last year TOM were going to save the world with Petroteq and CORT.
Spent over $1.5m on PQE's plant

This year conspicuous by the absence - NO MENTION ? ! ?

[fenners66] 28/6/2022 08:48

It still mentions only the principal debt of $1.5m due to Valkor.

But the previous RNS's refer to fees to add to the debt - why no mention ?

From RNS 16/22/21

"straight repayment of the principal amount plus interest and fees amounting to 15% of the principal amount of the loan, payable on the maturity date"

"To the extent that any part of the principal amount has not been paid by the scheduled maturity date (which may be extended by mutual agreement of the parties) then interest of 2% per month shall be applied to such unpaid amount from time to time until it has been repaid in full. "

[fenners66] 28/6/2022 08:43

Get this , so soon.....

"The directors have reassessed the value of intangibles and liabilities owned and owed by Greenfield at acquisition during the year ended 30 September 2021 and have reduced the value of both by GBP482,000"


WHY ? what's the genius explanation ?

[rmart] 28/6/2022 08:43

So, at end March still over £1.1m in the bank. Plenty of cash to see us through to financing completion.

Now focused on securing the funding for the remaining 90% of tar sands. This is very good news.


So raising approx $24m gets Tomco

"Total estimated undiscounted future net revenues (as outlined in the Company's announcement of 13 January 2022) ranged from US$942 million based on 1P reserves, to approximately US$2.5 billion based on 3P reserves in respect of a gross 100% interest in TSHII."

These are massive numbers and anyone looking to finance tomco will see this. I am sure the funding will cross the line soon. That is why I am back in.

$1 billion to $2.5 billion !