Tomco Energy Share Discussion Threads

[ducky fuzz] 05/7/2022 10:11

Unexpected jump in our share price. Nice of course.

[fenners66] 05/7/2022 00:07

More strange goings on at Petroteq:-

"SHERMAN OAKS, CA / ACCESSWIRE / June 29, 2022 / Petroteq Energy Inc. ("Petroteq" or the "Company") ‎‎(TSXV:PQE); (OTC PINK:PQEFF); (FSE:PQCF), ‎an oil company focused on the development and ‎implementation of its proprietary oil sands extraction and remediation technologies, announces that, pursuant to a request from the TSX Venture Exchange (the "Exchange"), the Company has agreed with an arm's length creditor to amend the terms of a debt conversion transaction for the settlement of US$249,000 of debt originally announced on October 29, 2020. The Company and the creditor have agreed to amend the conversion price from US$0.045 to US$0.15 resulting in an issuance of 1,660,000 common shares of the Company in lieu of 4,888,888 common shares"

So they are repricing shares to pay debt with?
But still lower than current share price and nowhere near the "offer"

[the diddymen] 04/7/2022 20:17

thrgef, I think that the view on this side of the fence is that the narrative looks a bit thin and key areas of the strategy are undeliverable.

Time will tell.

[thrgef] 04/7/2022 18:49

'Comfortable that things 'will' happen' suggest high probabilty rather than certainty. I'm on the same page and I believe high liklihood of targets being met by certain dates

[ducky fuzz] 04/7/2022 12:47

Thanks damac .. don't you mean might happen?

Are you THAT CERTAIN?

[damac] 04/7/2022 11:38

Hi Ducky,

I am not going this year, go on holiday with the family early Friday morning so not really practical for me to be heading down to London and back the day before. Had it been in early August as anticipated it would have been fine for me to attend but it is what it is, 7th July was the easiest day to get the whole board of Directors together.

No, I don't have any questions. From the info they have given us in recent RNS's and through private research, I am comfortable that things are progressing well and that all the things we need to happen by certain timeframes (drilling in August, revenues in September, remaining 90% purchase in TSHII by end of year) will happen.

[ducky fuzz] 04/7/2022 10:56

Hi damac .. Are you going to the AGM?

Got many questions:-)

[damac] 04/7/2022 10:35

Cheshire,

I have also wondered if that could be a factor in proceedings.

[talais] 04/7/2022 08:23

Valakor would then receive a higher amount of shares ,

[ducky fuzz] 04/7/2022 08:17

Hi Chesh .. I think the company would like the extra money so don't think there
is any deliberate delay.

[vauch] 04/7/2022 07:06

So a possible £1.5 mill for the pot, but I hope they don't extend the warrants expire date

[cheshire2] 04/7/2022 01:08

There are 187,125,000 warrants due to expire a day after the AGM, most at .8p so perhapse the company are waiting for them to expire BEFORE releasing news that could transform the share price ?? If i was them i would wait a couple of weeks

[vauch] 03/7/2022 18:54

But the Loan agreement could be sorted and agreed with on hitting certain milestones,
We has a statement many months back from JP saying he had been in contact with financier regarding terms not and would receive them within two weeks.
I don't want to see any extension of warrants.
After all the years of this with constant degradation of share price it is time the co proved it worth.
Turbo Shale
RF
Now the mix of different extraction ongoing.
I want just one and don't care which one, just something to get a steady income.

[bountyfull] 02/7/2022 17:41

An agreement in principle to a loan will request all-sorts of information and evidence, when the loan agreement is to hand we should get a RNS and that wont come until permits etc are to hand. Hopefully, if someone is attending the AGM they can ask for an update.

[rmart] 02/7/2022 17:15

They can offer finance based on receiving permits, they don’t have to wait.

[bountyfull] 02/7/2022 10:17

Any underwriter would want to see up to date information concerning the drilling permits to ensure there are no restrictions, the much awaited update from the exploration wells together with all sort of other regulatory stuff. If someone is going to the AGM this would be a good question in terms of what is outstanding.

[rugrat2] 01/7/2022 17:56

I have just gone back a day or two to look at some of the share price calculations and post 26993 from damac jumped out at me. The 56.5 m tonnes of sand is the base case reserve figure, not the annual production!

[goulding1215] 01/7/2022 16:42

What do you think of it Damac? Does it strengthen TOM’s position as the only CORT producer? I haven’t really followed it but i was fairly neutral over the whole thing, inclined to believe it was a scam. So, not bothered either way.

[damac] 01/7/2022 16:04

Petroteq Comments on Expiry of Viston Offer

June 28, 2022 9:40pm EDT

SHERMAN OAKS, CA / ACCESSWIRE / June 28, 2022 / Petroteq Energy Inc. ("Petroteq") ‎‎‎;(TSXV:PQE)(OTC PINK:PQEFF)(FSE:PQCF), ‎an ‎ an oil company focused on the development and implementation of its proprietary oil sands extraction and remediation technologies, announces that, at the request of the TSX Venture Exchange, one of the amendments to the offer by Viston United Swiss AG ("Viston"), acting through 2869889 Ontario Inc., its subsidiary (the "Offeror") to purchase all of the outstanding common shares of Petroteq as set out in the "Fourth Notice of Variation and Extension" as announced by Viston in Schedule TO/A (Amendment No. 10) filed by the Offeror with the Securities and Exchange Commission on June 17, 2022 and in a News Release issued on June 17, 2022, is that offer has been extended until July 22, 2022.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX ‎Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.‎

[goulding1215] 01/7/2022 15:31

hxxps://ir.petroteq.com/news-presentations/press-releases/detail/432/petroteq-comments-on-expiry-of-viston-offer

Interesting read from LSE thread, and perhaps of some significance to TOM shareholders.

No reaction on the sp, so far.

[ducky fuzz] 01/7/2022 13:06

Can't believe what I'm about to say AJ .. But I agree with Vauch :-)

[vauch] 01/7/2022 13:02

So no reason the financing cant be sorted before permits have been received.

[vauch] 01/7/2022 13:01

Funding can be sorted without having to pay interest until money is drawn from the funding pot.
When you arrange a mortgage you dot pay interest on the agreed loan until you actually
purchase the property.

[the diddymen] 01/7/2022 12:46

AJJ no you are wrong. You can negotiate a funding package in principle and then draw down when appropriate. That is standard practice.

The timing of the funding will not be affected by the drill permits. If the drilling is incorporated into the package then the funding would be announced subject to successful application for the drilling permits.

They can make a disclosure now - the problem is that they will not have a funding package for the main plant to disclose because the idea of a one man band delivering a $200m+ package is incredible and banks do not lend to incredible projects.