Tomco Energy Share Discussion Threads

[jaynealex] 27/4/2023 16:08

You couldn't make it up ! And all to provide short term finance while the never complete , always just around the corner , long term deal is still in due diligence

[talais] 27/4/2023 16:08

The way this is going we could be below. .20 tomorrow.Brilliant, not

[rmart] 27/4/2023 15:48

how wonderful, the company brokers clients trashing the share price

[kdickson] 27/4/2023 15:19

As well as that Vauch, the new request is also to agree "unit operations" between HSO and AC Oil. That key phrase suggests "unitisation" to me - a well known oil/gas industry term.

Unitization definitions
Unitization is the joint, coordinated operation of a petroleum reservoir by all the different owners of the reservoir; it is the best mechanism for assuring the maximum recovery of hydrocarbons in an efficient manner.

The goal of unitisation is to ensure that different block owners sharing a common accumulation develop the field as a single unit. Licence holders sharing a common field will enter into a unitisation agreement, which will firstly establish the percentage interests in the unit.

The above is borne out by these key paragraphs from the re-application request (hearing on 24th May):

17. HSO and AC Oil have agreed that the Subject Lands will be operated as a unit to prevent waste, increase the ultimate recovery of heavy oil, and protect the correlative rights of all
owners.

18. HSO and AC Oil have further agreed that production from Tract 1 and Tract 2 will be allocated solely to the respective operators of each tract.

19. HSO and AC Oil have also agreed that each Operator will be solely responsible for the costs of developing and operating the wells within its respective tract.

27. Operation of the Subject Lands as a Unit will increase, not decrease, the ultimate recovery of heavy oil from the reservoir, and therefore facilitate the greatest practical ultimate recovery of the heavy oil resource.

[vauch] 27/4/2023 14:32

I was told by Steve the reapplication was down to the well formations being a lot closer together.
This would allow one well to partly heat the next formation, and maximise heating all areas for greater extraction.
The original formation was to large.

[damac] 27/4/2023 14:31

Talis

It will be holders of the convertible loan note hedging the share price to bring it down to as low as they can prior to them converting their shares. Once they have stopped hedging they will set stop loses on their shorts, then convert the £250k loan note. Then once the deal is announced the share price rebounds. Distasteful as it is, it is easy money for them and can understand why they do it.

For us run of the mill investors, it is largely irrelevant as we are all in here for the expected news on the deal, which when announced will send the share price up and it doesn't really matter where the share price will be starting its rise from as the end value point is determined by the figures behind the deal, regardless of the share price being shorted or not prior to any announcement.

[rmart] 27/4/2023 13:34

nil par value.

[thesageofsaint] 27/4/2023 13:21

Good afternoon all! How has your day so far been? I think what might be best for you all is to simply allocate your TOM shares to your tax loss pile. If you are unwilling to sell for emotional reasons, at least you can make the mental switch that it is over and you can move on. It is only money, not real anyway, so don't look back too much. As I have told you many times, your money was lost the day you made your first deal in the fictitious notion that is this epic. Perhaps it will open your eyes a little to how the big grift of life works for so many people. Anyway, grinding through nonsensical detail will not help, it simply prolongs the agony of freezing in your life raft hoping for the ship that never comes. Peace out!

[talais] 27/4/2023 13:17

I never thought the share price would get this low.

[canny lass] 27/4/2023 13:10

Does anyone know what the current nominal share value of a single TOM share is?

Hopefully it is significantly below the current 0.22p share price.

[fenners66] 27/4/2023 12:50

No they did the same with PET , perhaps they have bought a few quids worth and are desperate to rescue them

[kdickson] 27/4/2023 12:39

Hi damac,
Its all publically available on the DOGM website. These slides are in the 52 page 'Petitioners Exhibits' documents (posted Mon 24th April) which will form part of the hearing on 24th May (to be livestreamed on YT).



Link to above page:
hxxps://www.ogm.utah.gov/Board/redesign/2023/05_May/Dockets/2023-022_471-03_HSOandACOil.php

[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.