Tomco Energy Share Discussion Threads

[thesageofsaint] 01/3/2023 16:21

What a funny little chap you are. You need to get over yourself. 'Dead to me' is a very peculiar thing to write to some anonymous bloke on a share thread. You seem to mistake tapping on a keyboard from some stranger as some deep emotional trauma you have had to endure. Very strange.

[lopodop] 01/3/2023 13:42

TD
Provided the shareholders take a kindly view of the company’s adverse fortunes and there are no UK government creditors, there are unlikely to be consequences.
Groat does have some directorships where those boards and shareholders may question the quality of his abilities and this could be on his mind and should be! He has been a very poor chairman here - who disagrees?

[the diddymen] 01/3/2023 13:03

Lopo in my view there is little risk to the directors and it will not have crossed their minds.

It is very true that you should never crystallise a problem unless you have an exit route and here there is no problem unless they create one by crystallising the issue. In essence there is nothing wrong with honest failure.

[lopodop] 01/3/2023 10:27

TD
Board may announce cessation of ‘operations217; so as to try to dilute personal risk - that is if there is no path forward. Auditors and NOMAD may be inclined to this course given the circumstances unless of course the Board can put forward a reasoned case to carry on - but this seems unlikely.

[danmart2] 01/3/2023 10:03

Paint fumes

[shaunx] 01/3/2023 08:21

Hi Andrew, thanks for your ongoing concern, incidentally clicking your profile on this post shows as the Diddyman, is that a glitch, if not you have been busy.

[stuart little] 01/3/2023 08:09

It was simply due to the closing UT trade marking it down at close. Basics.

[the diddymen] 01/3/2023 08:07

Nice opening mark up. TOM better have a deal worth its salt.

[stuart little] 01/3/2023 07:57

No delaying rns?I infer there must be a deal otherwise they would have reported no deal.V I.

[the diddymen] 01/3/2023 07:53

30/12/22 RNS "may now exercise the Option, at its sole discretion, by delivering a notice of exercise on or before 28 February 2023 and making payment of the US$16.25 million cash consideration by no later than 3 March 2023"

The material event, the notice of exercise, should have happened on or before 28 Feb. That is when TOM should have reported. The cash on 3 March is a function of the key event.

Does TOM have intent in not reporting? If they have no deal it is very easy to report. If they have a deal then report it. At the moment there is a risk that village idiots will infer that there must be a deal otherwise they would have reported no deal.

[lopodop] 28/2/2023 19:53

Just goes to demonstrate the uselessness of audited accounts, which few claim to understand, being promulgated by the very same people who are supposed to run TOM yet also seem to manage to run circles around their paymasters, headed by a CEO who claims to be accomplished without having a shred of evidence to offer in support of this accolade apart from a record of unabashed exhorbitance.

[stuart little] 28/2/2023 17:57

Is there any value in a dessert? Millionaires shortbread?

[thesageofsaint] 28/2/2023 17:15

Nice tick down this pm. Looking good for a new low tomorrow.

[lopodop] 28/2/2023 14:00

The auditors should have red flagged this business several years ago! Will they now - £40k plus is too much to sacrifice - but they are being watched this time!

[thesageofsaint] 28/2/2023 13:42

It is indeed. They perhaps, as I have written many times, believe the world to be as projected. Most scams, at least the ones that work and don't get you behind bars, are cloaked in deniable plausibility. Nothing illegal in agreeing a price for something which is many times the market value, that is only if it is not being used to fraudulently defraud investors. Very difficult to prove, particularly when no one cares to investigate these matters as they are endemic and de facto 'normal practice' with these dodgy entities that bottom feed the PI market. $2m is a price that TOM thinks is good use of shareholders' funds to give back story to 18 months of corporate can kicking and salaries. The balance will never ever be found nor paid and the $2m will be written off and the cycle will continue. Funny old world!

[lopodop] 28/2/2023 13:33

But surely Groat would have overseen the land deal by making certain that professional independent advice was sought before any decision was made.

The debacle smacks of amateurism going right back to start of sands.

For those investors who claim to have carried out their own research, it begs many many questions.

The immediate question is are any of the directors up to running a public liability business ??

[fenners66] 28/2/2023 12:33

Sage re your comment

That was so obvious from the beginning.
The land had been for sale for 5 years or more already.
The previous owners had gone bust with $100m losses far more than even TOM can burn.
Oil majors had prospected the land almost 50 years ago and discarded.
Valkor has bought land ajacent for 240times LESS per acre
The "option" was agreed when the only use for it was going to be CORT and CORT has gone nowhere in 2 years since and I estimate is dead. Never proven commercial.
Since then this new drilling plan has surfaced - of course it has , it also is unproven with the viscous sand....

Said from the start there was never a justification for the "option" as there were no other bidders.
But the gamblers will not listen , they have gambled , the share price for most must be underwater , so its pencils up noses , fingers in ears and underpants on their heads .....

[thesageofsaint] 28/2/2023 12:08

Has anyone ever negotiated a price for something valuable and sought after where: You agree a deadline for payment and then fail on 4 occasions to fulfil previously agreed terms? Allow for the compound delay to extend beyond a year? Expect the owner of this ‘sought after and valuable’ entity to be willing to continue to accommodate the delays without penalties or renegotiation? Expect the owner not to market or consider other offers during this protracted and seemingly interminable delay? Of course not, none of the above applies to normal commercial practice. However, imagine if the vendor knows the price agreed is multiples of realistic value and that the deposit is essentially a ‘fee’ to agree to be the counter party in some charade to provide background to some corporate grift. Well you take your pick. Speak tomorrow and sleep well.

[the diddymen] 28/2/2023 08:42

Somebody has put £10k in the one armed bandit this morning.

[the diddymen] 28/2/2023 08:40

Always get your good news out quickly and sit on bad news as long as possible.

[talais] 28/2/2023 08:05

They will Tell us Friday when they paid the 16.5 million .