Tomco Energy Share Discussion Threads

[kdickson] 14/12/2022 14:01

I thought that damac had already clearly stated that there is no link whatsoever with the Valkor disposal, from his post last month:

damac21 Nov'22 - 11:55 - 28746 of 29022
Goulding, you are correct, the disposal of Valkor Environmental LLC is of no relevance or connected to the Tomco/Greenfield situation.

[talais] 14/12/2022 13:41

This is LSE anything can happen,

[rmart] 14/12/2022 12:26

nudge nudge wink wink?

[the diddymen] 14/12/2022 11:34

The other thread are losing sight again. TOM will only exist if they can bring something to the party, and that something is cash from the markets. In this respect TOM shareholders look increasingly vulnerable if the Board is to raise fresh capital.

The alternative is insolvency in which case the parties will acquire what assets there are at a deep discount.

[vauch] 14/12/2022 09:58

Well I hope this is really going to happen this time around.
I am sure that the original funding was tied to the sale of Petroteq Energy.
In the form of the larger holders still wanting to be involved in the cort system.
But that fell by the wayside.
So we now have Valkor with the cash in hand to move this forward, but at what cost to Tomco and its shareholders, well if their deal is done then we will soon find out.

[rmart] 14/12/2022 09:27

good morning everyone. interesting start to the day.

[talais] 14/12/2022 09:08

2x3mil trades good start,

[vauch] 14/12/2022 08:26

Not likely Rmart

[talais] 14/12/2022 08:21

Or Friday, could be what they have been waiting for,

[rmart] 14/12/2022 08:16

The last bit of the funding sorted? Can we expect news next week ?

[talais] 14/12/2022 07:32

Selling one asset to Advance another, gla

[talais] 14/12/2022 07:27

Looks like valkor has sold its Utah assets.It is proposed that following the approval of the acquisition of Valkor, the company will change its name to Ecotech Energy ASA.https://araca.no/news/details/araca-energy-asa-new-name-and-new-ticker

[talais] 13/12/2022 13:38

MoU between Greenfield and VivakorTSHII Drilling Update and Warrant Term CorrectionTomCo 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 the Company's wholly owned subsidiary, Greenfield Energy LLC ("Greenfield"), has entered into a Memorandum of Understanding ("MoU") with Vivakor Inc. ("Vivakor") covering, inter alia, the proposed development by Vivakor of an enhanced oil sands processing plant on the Tar Sands Holdings II LLC ("TSHII") site located in the Uinta Basin, Utah, United States and the provision of professional services by Greenfield . In addition, Vivakor has entered into a lease with TSHII covering approximately three acres of the TSHII site to accommodate its planned operations, which includes the future supply of oil sands by TSHII.As previously announced, TomCo, via Greenfield, currently owns a 10% Membership Interest in TSHII with an exclusive option, at its sole discretion, to acquire the remaining 90% of the Membership Interests for certain additional cash consideration in the period up to 31 December 2022.TSHII Lease Agreement with VivakorVivakor has entered into a renewed lease (the "Lease"), covering approximately three acres of land (the "Property"), with TSHII for a term of five years, with an option to extend for a further five years, effective from 9 March 2022, to, inter alia, accommodate Vivakor's storage needs and planned plant operations at the TSHII site.It is Vivakor's intention, with the assistance of Greenfield, to develop and enhance a pre-exisiting oil sands processing plant that it owns on the Property. Such upgraded plant, to be operated by Vivakor, would be designed to produce at least 1,000 barrels of oil per day or equivalent tonnage of asphalt cement.Under the Lease, TSHII shall supply Vivakor with such quantity of oil sands as Vivakor determines each month, at a set minimum saturation quality, with a maximum supply of 2,000 tons per day. Vivakor will cover the cost of mining the oil sands and will pay TSHII US$3 per ton of oil sands processed by way of a rental payment for the Lease. Vivakor has paid a US$30,000 advance against future rental payments on signing of the Lease.MoU between Greenfield and VivakorThe MoU covers a proposed professional services agreement between Vivakor and Greenfield for the potential supply of certain operating and engineering services, including sand treatment and oil upscaling to Vivakor, such services to be provided by Valkor LLC through Greenfield.In exchange for its services in respect of the enhancement of Vivakor's plant, Greenfield would be entitled to receive 50% of net revenues received by Vivakor for any post-processed sand material from the plant sold through offtake agreements procured by Greenfield.The MoU includes a binding five-year exclusivity period for agreeing and entering into any definitive agreements covering the abovementioned matters.TSHII Drilling UpdateFurther to the Company's announcement of 10 February 2022 that the permits required from the Utah Division of Oil, Gas and Mining to drill three exploration wells on the TSHII site had been received by Greenfield's wholly owned subsidiary, AC Oil LLC, the Company is pleased to report that the drilling of such wells has now commenced.Initial results from the drilling have met the Company's expectations, with confirmation that no water was encountered in the target formation. Approximately 120 feet of cores have been produced so far from the first well drilled (AC1) and 80 feet of cores from the second well (AC6). The third well (AC2) is expected to be completed next week, following which tests will be conducted to confirm the oil saturation.Warrant Term CorrectionAs announced on 4 December 2019, the Company issued 8,538,462 warrants (the "Warrants") to Turner Pope Investments (TPI) Ltd ("TPI") in connection with their services in respect of the placing announced therein. The Warrants give TPI the right to acquire 8,538,462 new ordinary shares in the Company at an exercise price of 0.65 pence per share, for an aggregate exercise cost of GBP55,500. The announcement on 4 December 2019 erroneously stated that the Warrants were exercisable for a period of two years rather than three years as detailed in the underlying Warrant documentation. All other terms were correctly stated and remain as previously disclosed.

[the diddymen] 13/12/2022 13:28

DF, the outcome post 31 Dec 22 for TSHII will depend on the drivers behind the selling party. It is unlikely that they will get as good a deal from anyone else, ergo it is in their interests for TOM to succeed. TOM should be able to negotiate an extension without any further material costs.

I would certainly not be reading a contract extension as evidence that funding is about to be agreed.

[theuniversal] 13/12/2022 13:24

Hi guys, memory a bit fuzzy so please bare with me. Are Vivakor and TomCo have a deal thats meant to be sorted at end of December concerning a couple of rcp’s at 250b/pd?

Vivakor recent rns on gas profits should help finanace a few rcp

[ducky fuzz] 13/12/2022 13:18

Vauch .. The big question of course is whether TOMco will be granted an extension to the 31st December deadline for the purchase of TS2. We ain't gonna get the EGM vote
before that date as 14 days notice is required. I think they will get that extension if the Greenfield purchase is going to happen. I expect we will get some sort of RNS before 31st December.

[rmart] 13/12/2022 13:14

hope you are right vauch !

[vauch] 13/12/2022 13:10

Well my odd seem to be the other way around Rmart.

[rmart] 13/12/2022 12:58

not sure on the odds but if the deal comes off the share price will hit at least 3p in my opinion.

still at 70/30 against though.

[lopodop] 13/12/2022 11:56

SL will not accept contrary thoughts to his own - he researched TOM and JP - it has to be a winner!

[fenners66] 13/12/2022 10:47

New all time low share price ?

Took some beating ....

No doubt Stewart Little will still be gloating about all the reservations I have expressed about TOM being all wrong...

[goulding1215] 13/12/2022 10:40

Spoken like a true speculator, Rmart, but I think the odds are with you.

[rmart] 12/12/2022 17:58

its a pure gamble ducky. My thoughts are still the same but if it comes off the share price multibags, if not i lose some. 70/30 i will lose but if i win it will be a lot.

[ducky fuzz] 12/12/2022 16:52

You do surprise me rmart .. only the other day you were moaning and here you are topping up. My optimism goes up or down with the share price. So today I feel
more positive. DF