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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tomco Energy Plc | LSE:TOM | London | Ordinary Share | IM00BZBXMN96 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0275 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Drilling Oil And Gas Wells | 0 | -2.35M | -0.0006 | -0.50 | 1.07M |
Date | Subject | Author | Discuss |
---|---|---|---|
09/7/2022 07:10 | Ill post this as it was sent to me by another attendee of the AGM As it is good to see how another holder felt about the meeting. The over all mood of the meeting was very positive, obviously the big question was funding but they were all tight lipped on this for obvious reasons, but all agreed that it would be the catalyst to everything moving forward once it was agreed. John gave a good overview of everything that was going on, all which all sounded very exciting. Their time line is still very much to get the permits for the initial 7 oil wells in Aug and drill in Sept so all this quarter and start producing oil in the last quarter of this year. Although they would not say when they thought the funding would be completed, I got the impression it would be in place soon so that drilling could proceed as planned. Re the permits the existing state rules prohibited CO2 extraction from tar sands so the rules had to be changed and this was agreed and the rules changed back in March, it is hoped our permits will be issued in Aug so that drilling can commence in Sept. Our land can accommodate up to 28 or 30 wells in total. Zac explained that the oil in situ was very loosely held in the rock and would not take much heat or pressure to release it from the sand so quite easy to extract using a well proven and widely used CO2 and steam extraction method. This method also captures CO2 in the ground during the process, so is very green. The sample cores produced very good results and the reserves report will be updated over the next couple of months once these are analysed and I got the impression the numbers were likely to increase from the last report . The pans for the CORT plant to produce oil and sand is progressing well. They hope to start construction of the plant in the early new year. The sand produced is of a very high quality, suitable for fracking and high end silica uses, the prices for these types of sand have risen considerably recently. The reason the sand is very good quality is because contains very little moisture. They explained that the TS11 site sits on a very large seam of oil bearing sand that slopes down from the surface on one side of the site to deep down on the other. The oil bearing sand is the same all the way through this seam, its just the oil extraction method used varies with the depth. They have done a lot of work recently tidying up the site making it ready for the impending projects. We all agreed that John is doing a fantastic job , and acquiring the TS11 has been a master stroke. The potential of this site is really quite amazing. | vauch | |
08/7/2022 23:19 | From the other thread Vauch saying he attended the AGM to learn..... "Vauch 8 Jul '22 - 19:23 - 27115 of 27121 "I also asked JP what happened to the terms sheet he was expecting within the 2 weeks around Easter time, had arrived but it needed amending as costing had gone up in raw materials for plant." "And possible that the loaner wanted to much from Tomco" Finally they are trying to catch up. For more than a year they have continued to discuss $115m for a CORT plant. We have said that was the low underestimate. Then the TOM presentation cash flow tells that they need at least $175m Still the other thread discusses only $145m We said , add massive inflation , not just the traditional engineering inflation , but actual US inflation The figure will be $200m+ by now and the admittance that inflation is impacting - puts this fantasy even further out of reach. As for a lender wanting too much ..... what collateral to TOM actually have .... ? | fenners66 | |
08/7/2022 21:04 | Thanks and ill do a bit more on Sunday | vauch | |
08/7/2022 20:39 | Cheers Vauch, most appreciated and enjoy the wedding ;) | ajj2003 | |
08/7/2022 19:39 | How did he know? You must be famous. | ducky fuzz | |
08/7/2022 19:36 | At wedding tomorrow so wont be looking in but will be on later on Sunday with some more. | vauch | |
08/7/2022 19:28 | Thanks Vauch .. How positive on a successful outcome do you feel .. marks out of 10? | ducky fuzz | |
08/7/2022 19:23 | This is my take on AGM At the AGM First get the formal part out of the way as in RNS. Then onto the questions. I started with my holding from Netcentric days and was not happy my holding over the years had only declined with placing’s, Warrants and consolidation on many occasions. The pain of averaging down over the years. We where told the co has no plans to do further placings and they mentioned the warrants due to expire so would not dilute shareholders further. We do have a large lump of warrants due later this year at .9 And we have the 29% dilution of Valkor, but this is a drop in the ocean if the funding is finally agreed and plant construction gets underway. It was asked was the funding coming from the UK, most likely not was the answer. So then it was asked would it be funded from USA A vague answer was most likely {with a grin} and mention of the $ being the stronger currency. Trying to read between the lines is difficult but my feel it is only a couple of months at most away. I also asked JP what happened to the terms sheet he was expecting within the 2 weeks around Easter time, had arrived but it needed amending as costing had gone up in raw materials for plant. 7 well costing to added in to loan ect. And possible that the loaner wanted to much from Tomco I also mentioned that it would have been better to have let us know regarding terms sheet as not knowing gave a feel that getting funding may not happen. Better communication is needed. We where told as soon as funding is sorted the co will be bombarding us with info on progress at each stage incuding the 7 well program. | vauch | |
08/7/2022 18:40 | Viston adding another 45 days .... I notice that there is no Viston director or representative signing off the notice. I have not looked back at previous Viston notices, but have they ever been signed off by a named Viston director(s) ? | fenners66 | |
08/7/2022 18:05 | Looks like this is going much higher.53.5 paid and been going NT all day. Hopefully good news soon | talais | |
08/7/2022 17:35 | I bet rmart's pleased he bought back again. He always gets his timing right. Wonder if he has sold yet? :-) | ducky fuzz | |
08/7/2022 15:56 | MC Petroteq - best to day bye bye! | lopodop | |
08/7/2022 14:18 | Nice large buys coming in | talais | |
08/7/2022 14:16 | Another 45 day delay for those of us with Petroteq shares. | mikecoster | |
08/7/2022 13:20 | Ducky fuzz, try getting your facts straight. I navrent been negative about TOM for ages, plus I did say that we needed more communication and they agreed, but Are very busy. | goulding1215 | |
08/7/2022 13:12 | Ok it's working now. | talais | |
08/7/2022 13:11 | https://heavysweetoi | talais | |
08/7/2022 13:05 | Vauch also posted .. Disappointments regards no news ..put to bed He's been convinced news to come ! So it's looking alot better me thinks | jaynealex | |
08/7/2022 13:03 | Hi Ducky ..my first read was similar to yours ..put it in the bottom draw it may never happen , but now I read it as it's going to come good and pay for our retirements Better late than never , but the quicker the better !! | jaynealex | |
08/7/2022 12:46 | But there is a reason ! Is it not the case that warrants at 0.4p expire today ? So in order for them to be exercised it makes sense for the share price to be more than 0.4 That would give someone a reason for getting the share price up I'm sure.... | fenners66 | |
08/7/2022 12:38 | There's absolutely no reason why tomco's share price has risen the last two days | wilson2 | |
08/7/2022 12:36 | Ducky - you could be right there, i have now been retired 7 years and still waiting. Company was called netcentric when i started investing !!! | cheshire2 | |
08/7/2022 12:33 | Hi Jay .. I wasn't sure what he meant. I wondered if he meant it would take so long that we'd all be retired before it amounted to anything. | ducky fuzz |
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