Tomco Energy Share Discussion Threads

[lopodop] 20/4/2023 07:37

Bountyfull
What is the difference between a shrewd investor and a naive punter? How many shrewd investors are on TOM's books?

[vauch] 20/4/2023 07:20

It has the feel that the co cant raise the funds and is playing for time to get wells up and running.
This would add real meat to the bones. but another raising will be needed to pay for wells and start up gear.

[lopodop] 20/4/2023 07:17

Bounty full
Your references to Andrew indicate what a nut case you are - that is perhaps why JP LURED YOU INTO his enterprise.

[the diddymen] 20/4/2023 07:09

Novum will not be off loading any second hand shares on existing shareholders at these volumes. Another perfect day for the financing RNS, but no. Looks as if TOM meant Easter 2024.

[fenners66] 19/4/2023 23:07

I posed a question last week about the performance of those companies that Novum has as clients over the last 6 months ...
Came to the conclusion that their share prices averaged -46% in that time.

Well update time

One of those fell 60% today as their bankers said they were calling in their loan facilities in 6 weeks ....

The company concerned raised £3m in March 23
the bankers have decided there is no prospect of any cash being made any time soon.

Isn't it curious that Novum have such bad luck picking clients - or do those clients pick them ?

[fenners66] 19/4/2023 22:58

bountyfull - legitimate questions that any - yes even - gambler should be considering.

As for guessing for the last few years that there would be no funding - whilst I guess on the back of your "speak with JP" you would have been convinced that funding would have been done by Easter 2022 - I have not been wrong with my assertions - whilst the gamblers thread and their overtures have been wrong time and again.

Surely if you have faith in and spoken with JP you must think you have some sort of advantage and I guess that goes back years - whereas I have only the RNS's and their published history to go on.....

Difference to most of the gamblers I guess - is I actually read the RNS's
Not just TOM's but lots of RNS's , seen the good , the bad and the ugly.
With over 1900 companies to choose from on the London stock exchange alone - I know there are genuine investments out there....

[bountyfull] 19/4/2023 19:14

Hi Andrew
As a shareholder I have taken a little time out to speak with JP, but not GROAT, and have concluded he has what it takes to get a deal over the line. I am therefore happy to see how this pans out. We all know that this is not a widow and orphan share - high risk for high reward where only one of two things will happen. fenners is right to say we are gamblers but to post 100,000's words, year in and year out, on a stock he would not touch is very strange.
I do not know what is going on all the time with TOM but I think I know enough to tell me the risk/reward ratio is worth the punt. I do not think though, for one minute, that JP is out of his depth but I do think that you are, unfortunately, suffering from some form of post traumatic stress disorder, which motivates your constant posting here. For what it's worth though that honestly makes me feel a little sad as I know help is available. Yes, I've been there to Andrew and wish you all the best.

[lopodop] 19/4/2023 16:32

bountyfull
But don't you want an uptodate report from JP AS TO WHAT IS or IS NOT going on? Or are you happy with this game of bluff for that is what it is.
High time GROAT levelled with you lot - if he doesn't / can't then sands in so far as investors are concerned is over. Forget subsequent roll overs - you have to accept that JP is out of his depth.

[bountyfull] 19/4/2023 14:05

fenners all this overtime you are putting in better be worth it!

[fenners66] 19/4/2023 13:39

Vauch
19 Apr '23 - 11:28 - 30176 of 30176
"Reason for reapplication to the 24th May.
I asked why the first application as withdrawn.
It was due to the well spacings being to far apart to make steam extraction fully effective.
The wells are to be closer so they are not only heating their own area, the heat will encroach on the next well setup thus maximising the oil extracted from the area.
This to me seem to be a way also of upping production while reducing wasted heat.
I also enquired as to extraction cost.
It seems that the extraction cost per barrel will be around $15 a barrel"


A few questions Vauch -

1, Who did you ask and who gave the answers?

2, Does it not seem strange to you that, since the only data they have to go on was the test wells done last summer , that they waited until the last minute to postpone the application , then give the reason of moving the wells closer together? That conclusion could have been arrived at a long time ago....

3, Was whomever gave the answer $15 a barrel also as certain that finance would be sorted by Easter 2022 ?


TIA

[vauch] 19/4/2023 11:28

Reason for reapplication to the 24th May.

I asked why the first application as withdrawn.

It was due to the well spacings being to far apart to make steam extraction fully effective.
The wells are to be closer so they are not only heating their own area, the heat will encroach on the next well setup thus maximising the oil extracted from the area.

This to me seem to be a way also of upping production while reducing wasted heat.

I also enquired as to extraction cost.
It seems that the extraction cost per barrel will be around $15 a barrel

[vauch] 19/4/2023 11:21

5K a week you would think he would purchase some Tomco shares.
I know the cost of living has gone up but not by that much.

[the diddymen] 19/4/2023 09:57

Not the levels of trading that will enable Novum to off load the placing shares on existing shareholders.

Whether existing shareholders have the capacity/appetite to raise another £1,150,000 of cash is another matter, particularly when they see the cash go into inflated salaries and interest charges.

If you want to recover any cash from this car crash sell into the rises generated by third party news (in my humble opinion Mixy!)

[the diddymen] 19/4/2023 06:59

Lopo, the raison d'etre of TOM is not about generating shareholder wealth, it is about directors' remuneration, cash generation in the city, and professional fees. All these company need is a semi-plausible narrative. TOM are not even paying for their narrative now. Not the only AIM listed company.

[lopodop] 18/4/2023 20:38

Fenners66
You would make very suitable non exec to go in and find out what is actually going on here. DAMAC, Vauch, SL and others would not disagree if it meant there would be a decent news flow and accurate and meaningful communications plus a more representative share value.
Sadly you would most certainly decline the honour!

[the diddymen] 18/4/2023 20:01

TOM seem to reward failure. Arguably JP's unwarranted pay increase is his redundancy in advance!

[lopodop] 18/4/2023 19:52

And should the company have to fold do admire termination payments to be paid to each director. If the directors consider they have used their best endeavours in carrying out their roles, they will anticipate the full support of investors in approving their payoffs.

[lopodop] 18/4/2023 19:44

This is why serious investors stay well clear. Only the stalwarts hang in but for how long - oh but then they are locked in so there is no escape. As RMART says into .20ps.
Groat is giving these diehards the ride of their lives - enjoy!

[lopodop] 18/4/2023 19:35

As Johnson will say - the principles are for guidance - not necessarily to be followed.
Groat will say do it my way - if you don’t like it - tough.
And that it is possibly what he advised the auditors before the defective accounts were put on public show.

[fenners66] 18/4/2023 17:44

Isn't it great that the company is so principled....

Principle Nine - Maintenance of Governance Structures and Processes "

- being late with filing the accounts ? Is that a fail of principle 9 then ?

[fenners66] 18/4/2023 17:43

But you have just gotta take this with a chuckle....

"Principle Five - A Well-Functioning Board of Directors

The Board believes that the Directors are well suited to the Company's fundamental objective of enhancing and preserving long-term shareholder value"


... and they site the evidence of the long term share price decline , massive dilution , massive losses and at the same time massive pay rises for the board...?

[fenners66] 18/4/2023 17:41

I chuckled at this one ....

"The Group's operations are limited currently,"

Unlike the Directors capacity for awarding themselves massive pay rises....

[fenners66] 18/4/2023 17:39

I'm sure if SB moved JP on he could always try his hand at stand up comedy.....

From the recent overdue accounts

"The Board is committed to maintaining good communications and having constructive dialogue with its shareholders."

[lopodop] 18/4/2023 15:06

Goulding 1215
Unlikely £1 million will last more than a few months so more will be needed,irrespective of funding partner negotiations - success or otherwise. How is that to be played?
And if SB is pulling most of the strings now JP may decide to pack it in and move to his other enterprises. The successful funding partner here may require JP's resignation in order to appoint a US executive in his stead. More JP overheads no less.

[vauch] 18/4/2023 14:55

Well one day maybe. LOL