Tomco Energy Share Discussion Threads

[jaynealex] 02/3/2023 11:05

There's not exactly been a sell off though !

[jaynealex] 02/3/2023 11:02

Usually they just announce the extension ..this time it's a discussion ... Either we want a big price reduction or they're saying pay up or shut up

I'd say the former ...as if there were other interested parties they'd have taken it by now

Which begs another question ..why aren't there ?

I also wonder why if this was so tasty a third party has not approached Tom with a takeover offer , a party that could stand up to Valkor ..equal or better finances ..and therefore take the full value rather than the reduced returns from a free ride

I'm still in and I still wait !!

It's become a farce

[talais] 02/3/2023 10:18

If the 500k holder starts to sell,

[talais] 02/3/2023 10:15

If the extension is not met then I can see a placing, what a balls up

[fenners66] 02/3/2023 10:14

Sage I think the timing of the RNS 8.30am has caught some of them out.
They may have looked in before 8.00 expecting to see something , and switched off.
Only when they get to lunchtime to look in again and see .... that RNS.

[fenners66] 02/3/2023 10:09

Just to feed the fantasists and try and dose them with some reality at the same time , since they did not grasp this 2 years ago (and I guess never will)....

Looked up engineering and construction cost inflation..


2022 U.S. Construction Cost Trends
Rising prices for labor and materials pressuring construction costs

"Cost Index forecasts a 14.1% year-over-year increase in construction costs by year-end 2022 as labor and material costs continue to rise."

So for a project that has not started (will Never start) and will not start for another year ....
The CORT plant estimate originally $134m but that was already understated , by 2022 should really have been $200m , now has inflation running at $28m a year ....

That fantasy is disappearing over the horizon faster than a speeding comet.

Lets face it , we said at the start its never going to happen ....

[thesageofsaint] 02/3/2023 10:09

The only surprise perhaps is that there has been no share price capitulation today as yet. That said, with everyone of you so deep underwater with this where are the sellers going to come from? You all still hope that a miracle will happen, like the last wicket partnership scoring 100 to win against Warne and McGrath. So what options do you have, keep on holding and hoping for the wondrous miracle that can save you or crystallise your loses and admit failure and defeat. Well those of you who are left are a hardened crowd of echo chamber drunks who as a pack have hunkered down and sought comfort in the ever more deluded 'copium' you have need to addict yourselves to. Price capitulation will not come from sellers ditching their hand but from corporate action forcing you to accept the truth. Consolidation for the next narrative or they decide the gravy train is exhausted and pull the plug. Either way you lot are all done. Don't know when it will happen, but as day follows night, a 7am RNS will hit and you will have lost every penny. The wise man would get what he can now and take a cold bath. What a mess you are all in!

[fenners66] 02/3/2023 09:59

All the while the interest on the Valkor loan and director's remuneration is burning a hole in that £925k so generously given....

[wilson2] 02/3/2023 09:58

There wasn't any mention about the value of the sand , don't tell me that's on hold as well, unbelievable

[thesageofsaint] 02/3/2023 09:39

Look how everything is walked back and kept on the right side of the deniable plausibility line. A year ago you were not seeing the caution line about funding, then as time ticked they started to place caveats on the certainty of funding, now the caveat is on the potential that the option, never mind the funding, is questionable. See you have always been told the future, you just either don't know how to read or your denial and financial predicament means you only have slavish hope left despite the facts 'Tango slapping' each and every day. The only thing I have been wrong about is that I thought a consolidation would come sooner than it has, everything else, spot on. What a bunch you are.

[deb81e] 02/3/2023 09:16

I'm behond disappointed!!!

[bungeetrader] 02/3/2023 09:10

That doesn't sound good at all. Absolutely astonishing.

[rmart] 02/3/2023 08:55

Oh dear, not even an extension agreed yet. Well done Tommy.

[vauch] 02/3/2023 08:49

But have the counterpart had enough of the extensions now.
We need a EGM

[nasarsaddique] 02/3/2023 08:47

Update re TSHIITOMCO ENERGY PLCReleased 08:31:27 02 March 2023?RNS Number : 6638RTomCo Energy PLC02 March 2023 2 March 2023TOMCO ENERGY PLC("TomCo" or the "Company") Update re TSHII TomCo Energy plc (AIM: TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources,  provides an update with respect to the Company's 100% owned subsidiary, Greenfield Energy LLC's ("Greenfield"), potential acquisition of the remaining ownership and membership rights and interests in Tar Sands Holdings II LLC ("TSHII") (the "Membership Interests").  As previously announced, Greenfield owns a 10% Membership Interest in TSHII and holds an exclusive option (the "Option"), exercisable at its sole discretion, to acquire the remaining 90% of the Membership Interests for additional cash consideration of US$16.25 million which was scheduled to expire on 28 February 2023 (the "Agreement"). The Company is currently in discussions with the counterparty to the Agreement with a view to seeking a further extension to the exercise period in respect of such Option. There can be no certainty that the Option will be extended or that the required funding can be secured to complete the acquisition of the remaining 90% of the Membership Interests. A further

[fenners66] 01/3/2023 22:02

Also they didn't actually give any detail on what they were spending the £925k on

"The Placing has been undertaken to provide additional funds to cover the Company's expenditure as it progresses its plans"

Cover the company's expenditure - so pay directors wages and expenses then....

No actual investment , no drill rig , no CORT plant (as if ! )

[fenners66] 01/3/2023 21:58

When you go back and re-read the RNS there is a lot of guff.

"The Company announces that the terms of the Valkor Loan have now been further varied to extend the repayment date for the remaining US$1,000,000 principal amount of the loan to the completion date of a suitable funding transaction for Greenfield that provides sufficient funds to TomCo to, inter alia, enable it to affect repayment. "

They have to "announce" that since they have no cash to repay (only!) the outstanding principal $1m - not the near $500k in interest and charges - the repayment date is extended until someone lends them the cash to pay it .... shock.

Sounds like someone telling their credit card company they cannot pay it back until they find a loan (shark?) to refinance to....

[the diddyboys] 01/3/2023 20:31

Ace - get a life! Even thesage does not sound as ridiculous as you.

[danmart2] 01/3/2023 19:52

D day tomorrow?