Tomco Energy Share Discussion Threads

[the diddymen] 27/4/2023 11:38

Fenners and that essentially is the death spiral. Unless they have a business proposition (haha) this is the last financing that they might get away.

Watching the performance of the shares and the volumes this will be difficult. This will be between Novum's various parties and shareholders. If shareholders do not buy then the price will plummet and Novum's various parties will end up holding loads of confetti, while shareholders will lose a chunk of the company.

[fenners66] 27/4/2023 11:32

And as if by magic , maps appeared.

Hey Terry why don't you direct them to all your "research" on PET , obviously you could not have got that wrong could you so presumably all the cut and pastes are still valid .... ?

This time next year Rodney .... or next , or next decade (yes that really does apply) or next millennium ... ?

[fenners66] 27/4/2023 11:27

I guess the rapid fall in share price means the dilution is increasing when that conversion comes....

At the current share price (assuming its allowed to plateau and that is improbable given many more shares to sell)
the first tranche would be about 5% of the company.
That would make £1m loan conversion over 20% of the company
However it could be self perpetuating after all since there is no given definition of the "Put option agreement"
surely Novum can trash the price to try and make a profit ?

[kdickson] 27/4/2023 11:25

Good question rmart. We dont know but as Valkor and Tomco are working so closely together on this drilling project, IF Valkor was one of the Greenfield JV partners then maybe it wouldnt matter as all income from both companies wells would go into the same Greenfield JV coffers.

[kdickson] 27/4/2023 11:20

Presumably all the income from that going into the new Greenfield JV (composition unknown yet) that Tomco will get [unknown]%age free carry on.

[kdickson] 27/4/2023 11:17

And increasing that to seventeen x '7 spots. 119 wells in about 3 years.

[fenners66] 27/4/2023 11:16

SL -

stuart little - 16 Aug 2022 - 12:41:03 - 15227 of 15867
"I’ve not had much to say recently but very soon I will return with my gloating hat on to rip the P out of each and every one of you. See you soon."

Could you possibly clarify how long is soon ?
It's been long enough to conceive and welcome a new child already....

[kdickson] 27/4/2023 11:15

They are proposing four lots of '7 spot' well patterns. 28 producing wells in total.

[the diddymen] 27/4/2023 10:51

This has further to drop and even when it goes sub 0.002 it would be dangerous to assume that shareholders will start to support the share price again. 0.002 is 588m extra shares. That is material and will affect shareholders judgement on the handling of the company. TOM is about to enter a new territory.

[kdickson] 27/4/2023 10:48

Hi Cheshire,
That docket has been dropped, at the request of HSO (Valkor subsidiary) and AC OIL (Tomco subsidiary), and replaced by a new issued docket/action to be heard at the next DOGM Board meeting on May 24th.
This new request is for a much improved well pattern/drilling strategy.
Basically, it's good news.:)

[vauch] 27/4/2023 10:14

The next update will be same as last months

[lopodop] 27/4/2023 10:03

DAMAC
Are you still here or when did you eject?
After all you have been one of several pushing the virtues of TOM - how many have you influenced to invest here and remain?

[lopodop] 27/4/2023 09:36

Vauch
JP may be sitting on the loo for a reason - ie considering his position - someone has to be thrown overboard with a compensation deal of course.

[the diddymen] 27/4/2023 08:36

Cheshire2 - it was the revised drilling plan. More delay?

Fenners on this thread pointed out that the revised plan may be more about buying time rather than a fundamental error of calculation.

[gjabrj] 27/4/2023 08:22

We could really do with an update here!!!

[cheshire2] 27/4/2023 08:21

Utah Division of Oil, Gas & Mining Briefing Session 4/26/2023

3. Docket No. 2023-015 Cause No. 470-09 – HEAVY SWEET OIL, LLC and AC OIL, LLC
(This matter may be dismissed.).

i don't know what was due to be discussed at the meeting yesterday but it was dropped ?

[vauch] 27/4/2023 08:19

It is about time JP got off the toilet.

[lopodop] 27/4/2023 08:13

Silence! Where are the protagonists to defend the share value fall?
Should one expect SL and DAMAC to say it is logical?

[the diddymen] 27/4/2023 08:08

...wear it!

Only two months ago on this thread:

Stuart Little:

"They raised £900k less than 3 months ago! You say they have achieved nothing and regularly point out they are understaffed, so logic says can’t have spent much! Talk of impending placing is stupid. If the cap fits…."

[the diddymen] 27/4/2023 07:53

I suspect that the other thread will be hearing a bit from SoS as the share touches new lows.