Tomco Energy Share Discussion Threads

[lopodop] 10/12/2022 20:00

George Lincoln
Some here are investors not scroungers! They have been misled and tricked!

[the diddymen] 10/12/2022 17:37

Fenners the irony is that some unnamed party may take a large % in Greenfield. Why not let the whole card castle collapse and pick up the pieces from the administrator, and/or the landlord. The latter will be grateful for any offer for the TSHII land.

As ever the RNS does not stack up.

[lopodop] 10/12/2022 16:11

AC11
The section about Potter brought up serious questions but these were dismissed by RMART and others.
The non execs appear to have been taken in by Potter when it was their job to protect investors not encourage them to hang in, with considerable benefit for themselves. Even now they take monthly salaries for what? And stand idly buy while investors lose more and more.
Then there is good old DAMAC who seems to be an authority on TOM and some may find his involvement curious.
If Groat has any professional sense he will call time on TOM before Christmas and investors can then look to try to recover some of their monies subject to legal process.

[cheshire2] 10/12/2022 15:42

from the november 21 rns

Alongside the acquisition of the initial 10% of the Membership Interests, a newly incorporated subsidiary of Greenfield has been granted a lease over approximately 320 acres of the 760 acre site owned by TSHII (the "Lease Area"), for a nominal consideration and annual rental of US$320, together with a 12% of net sales royalty per barrel of conventional oil, gas or sulphur produced and removed from the Lease Area.

The lease provides Greenfield's subsidiary with the exclusive right to explore, drill, and mine for, and extract, store, and remove oil, gas, hydrocarbons, and other associated substances on and from the Lease Area, together, inter alia, with the right to erect, construct and use such plant and equipment and infrastructure as required. The lease is for an initial term of 10 years and will continue thereafter for so long as any oil, gas or other hydrocarbons are being produced from the Lease Area or drilling operations are being prosecuted or as the parties may agree.

So i assume TSHII will just add another 1m onto the price for the 90% as they did the last time.

[lopodop] 10/12/2022 13:35

Fenners66
Tom has a bag of soft investors
who have been‘taken in’. Just what boards like and of course at the end of the day they think they can play arrogant sympathy cards.
But in this case it will not be so simple…

[fenners66] 10/12/2022 12:55

TD that would not surprise me

What have TOM got?
Some RF /Turboshale tech that has been left on the shelf for years as its failed.
A 28% loan they cannot pay to buy a 10% deposit on very expensive land.
A subsid that has a license to use an unproven expensive tech that the owner of says will need at least $18m to try and make commercial.
Massive cumulated losses on the balance sheet.
An all time low share price - which makes it even more difficult to raise funds.
No technical expertise.
No drills
No current business....

This is not an investment.

[lopodop] 10/12/2022 12:52

TD
If one has no business, imagination and creativity can help to create illusions of a business. Lots of good examples come to mind;
even the players themselves believe it - they have to. Setting up distractions is another good ploy and it seems to work here.

[bountyfull] 10/12/2022 12:00

The extension of the warrants are a nod to (previous) funders to help keep them happy and with an eye to raising more cash easily. The price will have to get to c1.2p to get them away but it was pleasing to see it was done. The thing that jumps off the page for me is Valkor's agreement to their $1m loan, which smacks of confidence of something happening.

[the diddymen] 10/12/2022 10:39

Fenners just ventured to the completely deluded thread and seen the warrant suggestion re-appear.

If they had crept over here incognito they would have seen a month or two back that a warrant extension would be on the books and the reasons for it being bad news.

Just wondering how they may wrap up 'no funding' by 31/12/22 as good news. Maybe they will spin that as not wanting the newly extended warrants to benefit from the mega-riches that are just around the corner.

[fenners66] 09/12/2022 23:30

ace ventura - as for them believing the warrant extension must be good news or a clue perhaps ; they are so gullible.

Who is it on that board that waited over a year for his massive PQE profit he's going to put into TOM ?
Vouch ?

Perhaps the statement from one of the PQE directors (?) that he was going to donate a $1m of his profit from PQE sale to Ukraine had him absolutely convinced.....

Yet we said on here with reasons why it was never going to happen ... and still they believed. DOH !

An office in Canada , a house in Switzerland , an official - subject to - bid , at way more than current share price it all just has to be great news.....

Great things caveats - may not lead to ...... a bid .... funding.....etc.
Some ignore them and some don't.

[the diddymen] 09/12/2022 20:15

Generally you judge comment by its accuracy.

This BB has been consistently right, or as accurate as you can get. JP can be where he likes but he will not be able to raise the funding for the cort plants. I will not repeat what has been said previously.

If he is out in Utah then it is only to sign up to the surrender terms. Generally the spoils of war are limited when you are on the losing side; unless the gamblers want to plough in more money and prolong the agony.

[thrgef] 09/12/2022 19:17

Finally some sense on this board, thanks Damac. Also, note that warrant holders were happy with a 3 month extension exercised at 0.9p

[ajj2003] 09/12/2022 18:54

Thanks damac your insight is most appreciated as always. Onwards and upwards ;)

[damac] 09/12/2022 17:43

My thoughts....

The RNS never said that any GM would be this year, just really that we should expect one. The 'deadline' being mentioned is one made by shareholders who have naturally thought because (in lieu of any news to the contrary) the TSHII 90% purchase option expires at end of December, ergo, there needs to be a GM before the year end. But they cannot possibly announce a GM (an announcement which needs to present all the relevant information to shareholders) if all the details that need to be announced are not yet finalised.


"Whilst there can be no certainty that such funding arrangements will be successfully concluded, or as to the terms or structure of any such non-equity funding in TomCo, one scenario that is currently under active consideration would involve TomCo disposing of a majority stake in Greenfield to a partner(s) in return for, inter alia, certain upfront cash consideration, a continuing equity participation for TomCo in Greenfield without the requirement for further capital contributions from TomCo and the provision of a sizeable funding package to Greenfield. It is the intention of TomCo that any funding package provided to Greenfield would enable the construction of two oil sands separation plants capable of processing at least 6,000 tonnes per day of oil sands, along with at least 14 in-situ oil recovery wells. Any such proposed disposal would likely constitute a fundamental disposal pursuant to the provisions of Rule 15 of the AIM Rules for Companies and therefore be subject, inter alia, to the approval of TomCo's shareholders at a duly convened general meeting.

A further announcement(s) in respect of such ongoing discussions will be made in due course, as appropriate."



That a GM announcement has not materialised, and I think it is highly unlikely that there will be a GM between Xmas & New Year, it leads me to think that we should now expect an RNS before month end to say what is happening with the TSHII purchase option. We may well still have a GM announcement RNS in December, it's just that the meeting will not be in December.

Going back to the RNS mentioning the possibility of a forthcoming GM, I think an important factor to consider in this is that the Nomad (Strand) were happy that this comment be included in the RNS. For them to have been happy with that, they must have been provided with details of the proposal currently being agreed, in that the proposal would indeed require a GM for shareholder approval. It is a significant statement, and not one that Strand would have taken the risk of being reprimanded by regulators unless they were comfortable with the possibility of a GM happening.

[lopodop] 09/12/2022 17:11

And what has become of DAMAC - what has JP TOLD you. Some investors may be keen to know.

[lopodop] 09/12/2022 16:56

DF
SURELY YOU MIGHT EXPECT THIRD PARTY VIEWS TO BE EXPRESSED HERE IF THERE ARE DEFINITE CONCERNS FOR INVESTORS AND OF COURSE THERE ARE MANY ISSUES OF CONCERN. The smart investors heeded the warnings moons ago and got out - but sadly those who REMAIN are lacking in wisdom having TRUSTED JP. This was not a case of a viable business run by competent people. The business was never created in the first place. In other words a fools paradise - TOM has balance sheets showing large expenditures - impressive in amount but nothing else.
Why did BDO think there was a business - who / what persuaded them to accept the premise?
Ps TONY nb

[rmart] 09/12/2022 16:35

no, personally if nothing comes early next week i can imagine the troops gathering for an egm.

[vauch] 09/12/2022 16:30

No end of day RNS then Rmart.