Tomco Energy Share Discussion Threads

[lopodop] 17/4/2023 07:17

'Privileged information is not yet released to the market' - so says thrgef.

[the diddymen] 17/4/2023 07:10

10 days to the next rollover!

[busamitch] 17/4/2023 01:00

More stuff here:



Including:

Notice is hereby given that the Board of Oil, Gas and Mining (the “Board”), State of Utah, will conduct a hearing on Wednesday, April 26, 2023, at 9:00 a.m., or as soon thereafter as possible, in the auditorium of the Department of Natural Resources, 1594 West North Temple, Salt Lake City, Utah. The hearing will be streamed live on the Department of Natural Resources

YouTube channel at

[goulding1215] 17/4/2023 00:13

Yes, interesting document,BusaMitch. Perhaps the company can start on producing oil.

[thrgef] 16/4/2023 23:09

Lopodop, the timings and liklihood of a funding deal occurring is irrelevant to my point. It is obvious and clear in the RNSs that privileged information is not yet released to the market. Fair enough if you want to doubt or speculate on whether the event actually occurs, thats up to you, but to imply the information isn't privileged and is somehow a fabrication (and illegally) made up just shows that you cannot think logically and are hell bent on defamation of this company, evident by your continous trolling. I won't waste my time responding to you again.

[lopodop] 16/4/2023 19:46

30th April 23 beckons - time to stop sands. Return to RF could be timely for exhausted investors!

[bungeetrader] 16/4/2023 14:55

Thanks Busa.

[busamitch] 16/4/2023 14:49

F I L E D
APRIL 10 2023
SECRETARY, BOARD OF
OIL, GAS & MINING

IN THE MATTER OF THE REQUEST FOR
AGENCY ACTION OF HEAVY SWEET OIL,
LLC AND AC OIL, LLC FOR AN ORDER
ESTABLISHING THE ASPHALT RIGDE
ENHANCED RECOVERY UNIT FOR THE
INSITU PRODUCTION OF HEAVY OIL
FROM SANDS WITHIN THE RIMROCK
AND ASPHALT RIDGE DEPOSITS IN
SECTIONS 22 AND 23, TOWNSHIP 4
SOUTH, RANGE 20 EAST, UINTAH
COUNTY, UTAH.

Heavy Sweet Oil, LLC (“HSO”) and AC Oil, LLC (“AC Oil”) acting by and through its
attorneys, Snell & Wilmer L.L.P., hereby requests that the Board of Oil, Gas and Mining (“Board”) establish the Asphalt Ridge Enhanced Recovery Unit and approve a plan of unit operations for enhanced recovery for the in-situ production of heavy oil from sands within the Rimrock and Asphalt Ridge Formations in the following-described lands to be designated the Asphalt Ridge Unit (hereafter the “Unit” or the “Subject Lands”):

Township 4 South, Range 20 E, SLM, Uintah County, Utah
Section 22: All
Section 23: W½; S½NE¼; N½SE¼.

Petitioners submit this request after consultation with the staff of the Utah Division of Oil, Gas and Mining, having been persuaded that seeking approval of unit operations will facilitate the Division’s analysis, and more closely meet the purposes of the statutory program for development of heavy oil sand resources in Utah.

"BLAH BLAH BLAH including the following which I hope means days not years:"

26. The engineering characteristics of the approved enhanced recovery project show
that application of heat to the Target Formations from injection of steam or other media will support heavy oil recovery within a 100-foot radius of the injection site after approximately 30 years.

WHEREFORE, Petitioner respectfully asks that this Request be set for hearing at the
scheduled meeting of the Board on May 24, 2023, that due notice be given as required by law, and that, following the hearing, the Board enter an order:

1. Establishing and approving a plan of unit operations for enhanced recovery
drilling, completion and production of wells in the Subject Lands and Target Formations as specified herein pursuant to Utah Code §§ 40-6-7 and 40-6-8;
4883-9172-5914.1 - 6 -

2. Finding that the pattern of injection and production wells proposed by Petitioners affecting the Subject Lands and Target Formations satisfies the purposes of the general well location and siting rules R649-3-2 and 649-3-3 and suspending such rules to the extent they are inconsistent with the proposed plan of unit operations;

3. Designating Unit Operators and providing for allocation of costs and proceeds to
separate tract in the Unit as specified herein;

4. Making such findings and orders in connection with this Request as it deems
necessary; and

5. Providing for such other and further relief as may be just and equitable under the circumstances.

Respectfully submitted this 10th day of April 2023.

[bungeetrader] 16/4/2023 14:41

I can't open it for some reason. What's it about?

[busamitch] 16/4/2023 14:02

This is doing the rounds on other chat rooms, dunno if it's been posted here:

[the diddymen] 15/4/2023 16:09

thrgef, I disagree. If the Directors are aware of something which other shareholders are not then I would agree. In these circumstances the Board have recently raised more money to enable due diligence. There are no secrets. The directors have stated as much and discussions have allegedly been going on for well over a year.

The directors have had plenty of opportunity to buy shares prior to this 'deal'and they have not.

[lopodop] 15/4/2023 15:42

Thrgef
As has been mentioned previously by several contributors, once SB has recovered from TOM all advances, financial charges and miscellaneous items he can claim, what is there to keep him on board.
Having depleted the resources of its backers, TOM is unlikely to be of much practical use to SB so he can walk away and leave a somewhat vacant looking TOM to brainstorm the next oil sortie.
Would you invest?

[lopodop] 15/4/2023 13:37

Thrgef
How likely is there to be any deal? Be realistic - TOM/GREENFIELD may believe JP is in talks with a or several potential partners - if this is the case then it is unlikely to be more than 'talks' or 'talks about talks' and this is what has been announced. It is not secret and anyway for how long has this been going on and on. There cannot be privileged information on the BOARD's table other than perhaps how long they should carry on with sands.
Look at the failed history of TOM over how many years, it's ever dwindling funds and the unfulfilled promises - there is no privileged information for release. More's the pity for investors like yourself.
Do not overlook the fact that TOM / GREENFIELD may not be considered a viable partner in US and anyway SB appears to continue to have control.

[thrgef] 15/4/2023 12:56

The Directors are inside and have knowledge of privileged information that has yet to be released to the market. The time its taken to release the information (the deal) has no bearing on whether they can buy shares or not, its still privilaged information. They simply cannot legally buy shares and to suggest they can is nonsense.

[lopodop] 15/4/2023 12:51

TD
Well the chairman was the only director of HARL to hold off a purchase until - pressure from other directors or criticism from certain investors forced his hand. At this time HARL price is wobbly so he must be concerned that his holding could devalue by 50%. Although he may be hopeful that Joe will give a nod.

But in this case there is no pressure and because of the enormous downsides he and the others WILL most definitely not buy now or in the future.

[the diddymen] 15/4/2023 12:30

On the basis that the average investor tries to buy low and sell high, wouldn't this be the perfect time and opportunity for directors to acquire a substantial stake in the company that they direct.

It has been clearly stated for over a year that TOM is on the cusp of delivering the financial package, so it could not be argued that they have privileged information. Director involvement would make it very easy for Novum to off load the placing, and everyone will be a winner if/when the directors deliver. Win/Win really.

Time for the directors to lead from the front with their cash.

[the diddymen] 13/4/2023 12:16

Mmmm, not the sort of trading which is going to enable Novum to off load the shares. This will need a bit of the off-shored narrative or a financial package. We can discount the latter, so which of the off-shore parties is going to provide the froth?

[fenners66] 13/4/2023 09:59

Is there a "put option" as before with the convertible shares?

Remember 1 September 2022
"the Company has obtained an unsecured facility of up to GBP750,000 via a convertible loan note instrument and associated subscription and put option agreement"

"The Convertible Loan is intended to bridge the Company's financing requirements as the Board seeks to further progress and finalise negotiations with a potential financing party for a larger debt funding package"

Well good job that loan from last September did its job and the funding package got "finalised" ....

Oh but
it didn't
7 months later they agree a facility for even more funds , after raising almost another £1m in between

And the gamblers continue to take it.....

Why stop , Ever ?

[vauch] 13/4/2023 09:36

Well little man (diddy) you can post the same again in May as it will definitely be rolled over at least 10 more times, as Tomco prove to be constant in one thing.

[fenners66] 13/4/2023 09:09

"lack of professionalism" clearly extends to those that gamble
They don't care about missed deadlines, false promises, ( even by Easter has failed to materialise after multiple Easters) , massive losses, massive dilution, massive pay increases JP68% to reward even more delay and failure , and of course accounts that would not pass proof reading by juniors...

All in the hope that a dream still comes true.

Who would have thought when I started raising all the concerns and questions , what is it 4, 5 years ago now, that the share price would be about an all time low and no progress would have been made ?

I'll give them 3 guesses.....

[lopodop] 13/4/2023 08:47

‘Error source note’ remains on the published
Financial stats ref loss on joint venture.
One might have thought that by now the correction or adjustment would have been made.
It’s a very poor reflection of the Board’s expertise and says much about PKF’s lack of professionalism.
Groat also uses PKF for Harland & Wolff audit where he is chairman - seem to be a double act.

[canny lass] 13/4/2023 08:20

I think I may have bought my 1M trade yesterday a bit prematurely. I think we might see another Red day. First trade not promising for the day.

[the diddymen] 13/4/2023 07:57

Only 11 trading days before the next deadline broken. I have not gone back to the bullish RNS but I think that it predicted that the financing would be in place by April 2022.

[fenners66] 12/4/2023 21:45

I noticed another company that has had funding from Novum securities recently.
So I decided to look up Novum and lo it has a page referring to recent transactions / clients.
It was fairly easy to look at the clients and see their share price histories all clients since last October....

What do the gamblers reckon Novum's client performance over the last 6 months or so is ?




Ok I know they hate facts when there can be some meaningless qualified caveat narrative instead , but here you go......

11 clients , one came to market last week and when I last looked their share price had not moved at all.... (World Chess Plc)
The others ?

That's the intriguing bit...
ALL down
The simple average is about -46%
One down about 99.7%
One down about 97.8%
The best was -17%

Made me wonder how unlucky Novum are , that they are associated with companies who share prices fall after their recent involvement....

[canny lass] 12/4/2023 12:45

Strange contrast from yesterday. Albeit small volume, all sells today.