Tomco Energy Share Discussion Threads

[fenners66] 10/4/2023 23:02

From the accounts intangibles ....

"The carrying value of intangible assets at 30 September 2022 was £5,033k of which £4,794k relates to the pilot plant. "

They don't own the tech , nor the patent , and cannot make a plant on their own as they have no expertise and no money I bet that meeting about intangible value was interesting....

[fenners66] 10/4/2023 22:59

Jp 68% salary increase - for achieving nothing of note ....

[fenners66] 10/4/2023 22:57

Valkor has always had TOM right where they want them.
Pulling out of the JV so that TOM had to pay 3rd Party rates for the CORT plant refit and thereafter leaving TOM with all the "Intangible assets " on the Balance sheet ... if anyone officially said that CORT was not ever going to be commercial the balance sheet is in trouble.

[the diddymen] 10/4/2023 22:10

1d, I held back from suggesting that it was for a good job done stuffing shareholders. If the whole lot card castles, as anticipated on this thread, then you could speculate that it might be redundancy payments in advance

[damac] 10/4/2023 21:52

Webber11,

It is only funding for Greenfield activities. The Joint Venture want a sizeable stake in Greenfield in return for providing the initial and ongoing funds to develop Greenfield's projects.

As part of the deal there will also be a cash consideration direct to Tomco (as mentioned in the RNS), but that will be nothing like the funding that will be ploughed into Greenfield.

The following explains that funding being sought is for use on the TS2 site...


"Greenfield Energy LLC

The Company's primary focus during the year remained on Greenfield Energy LLC ("Greenfield") and its plans to pursue the construction of two oil sands separation plants capable of processing at least 6,000 tonnes per day of oil sands in Utah, USA, at the earliest opportunity, as well as potentially exploiting other opportunities available to it.

During the financial year to 30 September 2022, the Company sought to support Greenfield in securing funding for delivery of its abovementioned strategy. This essentially requires: (i) raising the $16.25m required to exercise an exclusive option to purchase the remaining 90% of Tar Sands Holdings II ("TSHII"), which owns, 760 acres with a Large Mining Permit in Utah, and (ii) raising the requisite additional sums to construct up to two commercial scale oil sands separation/processing plants on such permitted area, whilst also commencing drilling of wells into the deeper oil sands that are too deep to mine for the implementation of oil recovery processes. Simultaneously, the Company has also been strengthening its relationship with Valkor Oil & Gas LLC ("Valkor") and other technical parties, working on the specification for the proposed oil sands processing plants."

[webber11] 10/4/2023 18:44

A couple of thoughts for the great the good and the Tomco knowledgeable

If you read these lines from the accounts;

"with one scenario involving the potential disposal 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".

1 A percentile figure of Greenfield again speculated up to 15%
2 A sizeable funding package to Greenfield.

So a "sizeable funding package to Greenfield" tells me that they have an idea of a different site other than the TS11 acreage. You would guess some of the old leases designated for the Turboshale project might be the targeted area, or the 320 acre area that sits within the 760 acre TS11 land. They must have identified an area if they want funding as well, but why has the aforementioned "sizeable funding package" been designated towards Greenfield and not Tomco as we are most likely about to give away more than 85% of the subsidiary?


I go along with Rmarts theory that the accounts needing signing off could well have been, the potential hold up here, hopefully we will find out. One very last trade early doors tomorrow and that me with my last investment here. Hopefully this will be a great week

[busamitch] 10/4/2023 18:34

Alas not. Don't think we've hit $49B market cap yet...



ExxonMobil has held early informal talks about potentially acquiring the largest pure-play shale producer, Pioneer Natural Resources, The Wall Street Journal has reported, quoting sources with knowledge of the matter.

Exxon is looking to boost additionally its position in the U.S. shale patch and it has said for years that the Permian basin would be its key priority area for investments and growing production in the coming years.

In December, Exxon said in its latest corporate plan that more than 70% of capital investments by 2027 would be deployed in strategic developments in the U.S. Permian Basin, Guyana, Brazil, and LNG projects around the world.

Pioneer Natural Resources, whose market capitalization was $49 billion as of market close on Thursday, is the biggest oil producer in the Permian and the largest pure-shale player in the United States.

[vauch] 10/4/2023 18:12

Can't be Tomco as they are a micro shale co so micro it is hard to even see

[1dutchman] 10/4/2023 16:43

Is it possible that JP's salary includes the $100k(?) that Valkor was paying for his 'assistance in securing permits'? Or am I misremembering? If so, it's further evidence of the incestuous nature of the relationship, especially given that 1) JP's training and experience is very unlikely to have included details about attaining oil licence permits in Utah (or anywhere else for that matter) 2) the permits are apparently, as yet, unsecured, and 3) JP was nowhere to be seen in the video of the Utah permit hearing that took place last year. If that was his area of expertise and responsibility, don't you think he'd show for the hearing? Or is this just another little thank you from Byle to JP for having supported Valkor by picking the pockets of investors during Valkor's tough times when their only income was secured by going through the charade of testing CORT?

[the diddymen] 10/4/2023 15:32

1d JP's salary beggars belief. TOM is a high risk business and JP should be paid in share options, ie aligning his pay with shareholder interests; the non-execs should have done likewise. That they have not is indicative of their disdain for shareholders.

TOM will need to give themselves plenty of time to off load the Novum shares onto the long suffering!

[1dutchman] 10/4/2023 15:31

Re: Valkor, I think Fenners’ is right, in that Valkor has Tom right where they want them. Valkor has seen the usefulness of having a listed ‘puppet’ to raise funds whenever needed and I suspect they will want to maintain the ability to pull those strings until a better option presents itself. The short history of the relationship has seen Tom bailing Valkor out of a bankruptcy situation when Valkor were working on CORT and had no other sources of income. Byle played that one well, dragging out the ‘testing’; until other income was secured. Valkor no longer has any real interest in CORT because they know it doesn’t work. Byle then moved on to ‘in situ’ drilling, which is yet another challenged technology - - but one that can be teased out for additional gain from those who don’t know just how tricky (and expensive) it is to pump steam underground in the hopes of freeing up a few barrels of asphalt. My guess is that ‘in situ’ won’t last for long and will soon go the way of CORT. Instead, the big game in the US now is anything that can tap into the huge climate change subsidies created by Biden’s infrastructure bill. These are the subsidies that have (real) companies with interests in renewables and carbon capture abandoning Europe for the US. There are loads of new technologies in these areas that haven’t yet been commercially proven. In fact, at the moment that’s the norm. Byle will soon have sniffed out a new technology scam tied to these subsidies and it is very likely that Tom’s investors will have a ‘great opportunity’ to support Valkor yet again.

[1dutchman] 10/4/2023 15:07

Looking to anticipated news flow, Tom’s last minute financing has earned the Board some breathing space. Next up is the 30 April TSHII deadline, which will likely be further extended. Given that the Chairman’s letter also further extended the search for funding until year-end, nothing is required to be announced until further tranches of the convertible are drawn down. The staging of the convertible should provide a window into the company’s burn rate but it appears that another year of Board fees and (hard to justify) JP’s salary has been secured. Happy days. All the Board has to do is keep its fingers crossed that investors continue to absorb Novum’s convertible issues.

[1dutchman] 10/4/2023 15:05

I’m surprised that Lopo hasn’t mentioned the change of auditor. Combined with the 3 April RNS citing the suspension due to auditor “requested additional time”, isn’t it likely that the previous auditor, BDO, either refused to sign-off, or perhaps finally saw that Tom is on a road to nowhere? As Lopo has previously mentioned, BDO has to be careful of its reputation. Being tied to Tom is never going to be positive for anyone’s reputation.

[bungeetrader] 10/4/2023 13:28

Is that Tomco then???
:)

[goulding1215] 10/4/2023 12:39

Exxon Considers Buying U.S. Shale Giant

By Tsvetana Paraskova - Apr 10, 2023, 4:56 AM CDT

[vauch] 09/4/2023 14:57

So long as the co is not nearly their like Petroteq where.

[goulding1215] 09/4/2023 14:21

Not much the company can do about Easter Vauch, it can’t change History. We are all having to be patient, nearly there.

[vauch] 09/4/2023 07:14

And if the markets weren't concerned we would have been at a lot higher SP

[fenners66] 08/4/2023 22:26

Valkor are charging interest of (now) $15k a month and have been repaid $750k with a total interest bill so far of anything up to $475k
that's assuming they are not charging interest on interest as they seem to have actually been receiving it each month,
that works out from the Loan year end balance.

So if they really have had $1225k of the original $1500 loan back by now and even that money lent back to Greenfield was supplied by TOM for engineering work on the PQE Cort plant , do you think they would be at all worried given that ?

[lopodop] 08/4/2023 21:32

Bountyfull
How on earth do you know what Valkor thinks? Vauch is right!

[bountyfull] 08/4/2023 19:48

Vauch it seems Valkor are not worried and that is a very positive sign. If Valkor was worried at all they would have call up their debt. Yes this is dragging on but but Valkor it seems have complete confidence.

[vauch] 08/4/2023 19:39

I for one am not so sure as ever it finds a way to drag on.

[bountyfull] 08/4/2023 14:11

Andrew why are you so fixated with John? What are you not telling us?

[fenners66] 08/4/2023 13:19

A repeat from over a week ago....

fenners66 - 30 Mar 2023 - 17:34:55 - 16805 of 16904

haggis said this morning there is no way a convertible loan deal would be done without it being 99.99% deal for financing done....

Well , I guess you would have had the same view about last September's convertible loan deal then ?

So that 0.01% has gone through , financing , free carry and back to financing , in just ....
seven months

Go on Haggis given that history , why don't you give us a time limit for this 0.01% of the job (financing for $16.25m+Drilling +$145m for plants (mentioned in previous placing RNS) which would have to be $200m+ by
now....

You are 99.99% certain so I'm sure you can add a backstop date.
What is it?


Come on pick a date - after all if it really was 99.9% already surely you can guess now..... ?