Tomco Energy Share Discussion Threads

[goulding1215] 21/11/2022 10:30

What is all this noise about? Valkor has many companies.the one they are selling is not affiliated to Tom or Greenfield. Can someone clarify, please.

[thesageofsaint] 21/11/2022 10:15

Dear me. How many CSE's did you muster or where you 'allowed' to go on a bricklaying course at the end of school?

[thesageofsaint] 21/11/2022 10:14

Been a while. All quiet and then another Tourette's dump of buffoonery. The only way this kipper is being 'taken out' is in a black bag with the rest of the rubbish. If it smells like a kipper, and this stinks to high heaven, then it is a kipper. Utter foolhardy nonsense. You buy something of value not an empty husk of a sham. The only way you will see 3p is after the 100:1 consolidation.

[cheshire2] 21/11/2022 09:53

Im a LTS even after averaging down i would need 3p to break even !!

[the diddymen] 21/11/2022 07:05

Another day without an RNS.

A few more days until the other thread realise that the warrants 'hold up' is another false flag.

Market equivalent of cold turkey for Chirstmas?

[deb81e] 20/11/2022 20:20

I don't mind being taken out if the price is right 3p+ but recon other LTS holders would take less!!

[thrgef] 20/11/2022 20:13

I hope not. Not until our first plant is operational anyway

[vauch] 20/11/2022 19:52

Are we about to be targeted for a take out?

[the diddymen] 20/11/2022 19:47

TOM going to be ditched at the alter?

[vauch] 20/11/2022 17:49

Araca Energy ASA: Summons convening an Annual General Meeting on the 28th of November 2022 for approvals including the acquisition of Valkor Environmental LLC, conversion of debt to equity and the divestment of current assets
Company news
2022-11-14 21:14:59
Araca Energy ASA summons all shareholders to an Annual General Meeting of Shareholders to be held on the 28th of November 2022 at 11:00 a.m. (CET) at SANDS Advokatfirma, Cort Adelers gate 33, 0254 Oslo

The summons has been sent to all registered shareholders 14th of November 2022 in regular mail.

The agenda includes among other the following items

Approval of the annual accounts for 2021

The conversion of outstanding interest bearing debt to equity
The company currently has approximately NOK 24 million in outstanding interest bearing debt including accrued interest. This amount is proposed to be converted to equity at 3.2 øre per share.

The reverse split of the share 2000:1
On the back of the share being traded around 4 øre per share, the Board of directors is proposing to reverse split the share such that 2000 old shares are converted into 1 new.

The acquisition of Valkor Environmental LLC
Araca Energy has signed a share purchase agreement to acquire Valkor Environmental LLC (“Valkor”;). Valkor owns 6 parcels in Unitah County in Utah, a license to extract oil as well as a license to use the extraction technology of Petroteq Energy Inc. Valkor has 2P reserves corresponding to approx. 121 million BOE. The company is currently owned by Global Commodities Business Partners Ltd ("GCBP") and after the acquisition, GCBP will be the company's largest shareholder. The purchase price is set at NOK 2,624,964,120 and will be settled with new shares in Araca. The shares are issued at NOK 90 per share each with a face value of NOK 20, after the reverse split, which values the equity in Araca to NOK 100,495,080.

The divestment of assets
Araca Energy has signed an agreement to divest its shares in Aladdin Oil & Gas (Cyprus) Ltd, Culebra Holding Ltd, Larchbay Traders & Consultants Ltd and Select Investment Ltd and is proposing to the General Meeting to approve the divestment.

Election of a new Board of Directors
It is proposed that Mr. Raymond Gerald ("Jerry") Bailey be proposed as Chairman of the Board. Bailey has over 50 years of experience from the oil and gas industry, including as former President of Exxon, Arabian Gulf and CEO of Petroteq Energy.

Change of name
It is proposed that following the approval of the acquisition of Valkor, the company will change its name to Ecotech Energy ASA


For further information, please contact the Araca Energy at [e-mail]

[talais] 20/11/2022 17:15

https://www.stevenbyle.net/companies

[talais] 20/11/2022 15:44

https://www.notc.no/eng

[talais] 20/11/2022 15:40

He's got a good track record.https://www.valkorgroup.com/about

[danmart2] 20/11/2022 13:57

If it looks dodgy, smells dodgy, appears dodgy, tastes dodgy it’s likely to be?
TOMCO?

[fenners66] 20/11/2022 11:54

Araca over the counter shares so I guess will have less focus from the bourse

Seems to be little point other than getting someone to " value" Valkor - a resemblance to Viston's "bid" for PQE
Oh look and its a former PQE CEO that has arranged it.....

Incestuous field this....

[1dutchman] 20/11/2022 11:39

The only GCBP I can find is a dissolved company, though strangely one that was based in our hero's hometown of Preston. Perhaps it is a US or Canadian entity? As it turns out, there is a Valkor CPR - produced by none other than Chapman Engineerng of Canada. They have somehow ascribed a stunning USD 804 million valuation on Valkor's assets and a 121 million boe reserves. Haha. Valkor themselves admitted to the Utah Board that they had no idea which of four processes might be required to extract oil from those assets, so how can Chapman value them? This is the same Chapman that ascribed such high value to PQE further declaring "good oil sands" on Asphalt Ridge where PQE built its demo plant - - only to find there wasn't good sand available and thus had to be trucked in. A quick look at Chapman shows no professed expertise in oil sands (despite their Canadian base), though PQE and now Valkor for some years have been raising funds on the back of Chapman's so-called CPRs. Yet another leech to add to the barrel of bottom feeders surrounding PQE, Valkor (now Ecotech) and Tom. Does the Oslo bourse accept this type of activity?

[1dutchman] 20/11/2022 11:07

BTW - what do we know about Global Commodities Business Partners Ltd ("GCBP")?

[1dutchman] 20/11/2022 11:05

You are right, Fenners, that the numbers don't add up. But the Araca accounts may be another red herring if this is a reverse. Effectively, Valkor is buying the listing. Araca has been told to make a clean sweep and so are selling what's left of their moribund assets. Installing Jerry Bailey as Chair is another sign that Valkor and their cronies will be in charge (Exxon must be humiliated to see their name - even once removed - tied to this through Bailey's CV). There will have to be a prospectus, CPR (or its equivalent), etc. But if it happens, Valkor et al will have succeeded in securing a listing which may permit them to raise funding for their pump and dump games. And again, if this happens, then one has to question whether there is any reason for Tom's continued existence. Maybe JP survives as SB's bag man, but it appears that yet another Tom strategic investment will have achieved nothing more than leaving shareholders much poorer. (I would like to add that though poorer, those shareholders might also be left a little wiser, but no doubt many of our dreamers - so convinced of SB's genius - will fall into line and invest in the new Araca).

[1dutchman] 20/11/2022 10:42

"Why does this field attract so many losers again ?" Because there will always be snake oil merchants seeking to defraud honest, but gullible, people. It may seem odd that these fraudsters always seem to congregate, but there exists a loose society among two-bit brokers who know how to play the system and extract a decent living from indecent activities. Usually (though not always) too smart to get caught, they exist on the fringe where groups like the LSE can't be bothered to enforce. I have a feeling that there is stronger enforcement in the US markets, but maybe we just don't hear about those stories. It is interesting that it was a US governmental decision to shut down the PQE transaction. Perhaps it wasn't on the basis of being 'strategic' (for which there needs to be no explanation) but rather on the grounds of staving off a scandal regarding a US-based company listed in the Canadian market where US authorities have no control.

[fenners66] 19/11/2022 23:34

Araca proposes to sell all it's investments in....

""All shares in the companies Aladdin Oil & Gas (Cyprus) Ltd, Culebra Holding Ltd, Larchbay Traders & Consultants Ltd and Select Investment Ltd are sold to Cefn Forrest Homes Ltd against a consideration of USD 100".


Previously they wrote down the value to zero I think....

Overall its not a good set of accounts to read....

Why does this field attract so many losers again ?

[fenners66] 19/11/2022 23:19

Bloomberg says they are OTC - over the counter shares - so there is little to no market for them...

[fenners66] 19/11/2022 23:15

Oh those last accounts of Araca Dec 2020

Auditors drew attention to "MATERIAL UNCERTAINTY RELATED TO GOING CONCERN"
"may cast significant doubt on the Company's ability to continue as a going concern."

[fenners66] 19/11/2022 23:12

Araca is "paying" for Valkor's LLP in shares after they have consolidated the shares by means of 2000 to one consolidation.

They are going to make Global Commodities Business Partners Ltd ("GCBP") the owner of Valkor their biggest shareholder.

They think that by agreeing a price of £216m for Valkor and paying in new shares that they are going to increase their stock exchange listing to 100m NOK which does not add up .

"The shares are issued at NOK 90 per share each with a face value of NOK 20, after the reverse split, which values the equity in Araca to NOK 100,495,080."

So that does give GCBP equity to sell in Norway....
Little Scandinavian company promising to go large.....

Where have we seen that before ?

Oh yes Netoil was investing €100m+ in a Scandi company , until it wasn't . Despite all the issuance of RNS's etc.

And the new board of Araca will have ex PQE director.....

And PQE are expecting to sell some CORT license to....... you guessed it ..... Netoil

Except it's all conditional (as always) and will that ever happen ?

Small world , apparently......

Ask PET or ROSS group about Netoil ....