Tomco Energy Share Discussion Threads

[danmart2] 06/6/2023 08:04

To summarise the RNS - ‘we the directors will keep getting paid until the end of the year, meanwhile if Greenfield or ourselves find a complete mug with plenty of cash we will do a deal’.

They haven’t found that complete mug in the past year, what chances they find one between now and New Year’s Eve? 0.01% chance of success?

0.01% Vs 99.9% the game is over?

Also, is this RNS because they can’t get any more funding from the market. The game is up and they have worked out the remaining funds will get them to the end of the year before they have to wrap it up?

[the diddymen] 06/6/2023 08:03

Just to remind the other thread, only another £775k to be off loaded onto the market under the convertible loan agreement. Another 675m shares at these prices.

[fenners66] 06/6/2023 08:02

As for Valkor they gave away Greenfield - with good reason , being at arms length means they have no liability and can charge what they want to TOM / Greenfield for "services".

25-8-2021
"Issue of the Acquisition Shares is subject to Greenfield receiving funds from, or drawing upon, a loan or credit facility in connection with the construction of an oil sands processing facility as specified in the FEED Study dated 21 July 2021 (as amended or superseded) ("Financial Close"). In the event that Financial Close is not achieved within 3 years of the Effective Date no consideration is payable by the Company to Valkor and the obligation to issue the Acquisition Shares will lapse"

IMO No chance of that happening - no chance of Valkor getting..... and here is the funny bit

"The deferred consideration for the Acquisition comprises the issue to Valkor of 592,830,258 new ordinary shares ... currently equates, in aggregate, to 29% ... "

Not any more smaller by the week ..

[fenners66] 06/6/2023 07:48

" but then they wouldn't have the licences that Greenfield have."

Are they referring to CORT licenses?

Cort is dead.
Despite all the hope and bluster PQE has not used the test plant in 2 years.
PQE's directors have walked
PQE has not filed its accounts
PQE has given up its listing and since its been paying in shares has screwed shareholders in the process.

And any TOM gambler thinks this "license" is worth anything?

[bungeetrader] 06/6/2023 07:25

Yes, but if they pay $100k within 30 days of the offer and say they will match it then they have until 31st December.
They have bought more time.

[talais] 06/6/2023 07:25

Maybe valkor will step in and take the remaining 90%,

[talais] 06/6/2023 07:19

Seems landlord is fed up with waiting, going back for sale end of month.

[rmart] 06/6/2023 07:18

Talais, why ?

[the diddymen] 06/6/2023 07:09

With the new RNS only a matter of time before someone on the other thread claims that they must be on the cusp of a deal, otherwise they would not have bothered.

Our conclusion - it keeps the narrative going to 31 December 2023 and avoids monthly rollovers.

[cheshire2] 06/6/2023 07:03

RNS Number : 7221B

TomCo Energy PLC

06 June 2023

6 June 2023

TOMCO ENERGY PLC

("TomCo" or the "Company")

Update re TSHII

TomCo Energy plc (AIM: TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, provides an update with respect to the Company's 100% owned subsidiary, Greenfield Energy LLC's ("Greenfield"), potential acquisition of the remaining ownership and membership rights and interests in Tar Sands Holdings II LLC ("TSHII") (the "Membership Interests"). As previously announced, Greenfield owns a 10% Membership Interest in TSHII and holds an exclusive option (the "Option"), exercisable at its sole discretion, to acquire the remaining 90% of the Membership Interests for additional cash consideration which was scheduled to expire on 30 April 2023 (the "Agreement").

Further to the Company's announcement of 2 May 2023, it has agreed with the counterparty certain amendments to the Agreement such that Greenfield now has an option, at its sole discretion, to acquire the remaining 90% of the Membership Interests for additional cash consideration of US$17.25 million (formerly US$16.25 million) prior to 6.00 p.m. Salt Lake City Time on 31 December 2023 together with a matching right as described further below.

It has been agreed that the counterparty may, from 1 July 2023, market its remaining 90% of the Membership Interests or TSHII's assets to third parties on at least as favourable terms as set out in the abovementioned amended Agreement. In the event that the counterparty receives a bona fide offer to purchase the remaining 90% of the Membership Interests or TSHII's assets from a third party, Greenfield shall have 30 days from the date of notice of such offer to match or exceed such offer and to provide payment of US$100,000 towards the purchase price, providing closing of such transaction occurs prior to 31 December 2023.

The Company remains in discussions to secure a potential funding package for Greenfield, that would, inter alia, enable Greenfield to ultimately exercise the amended Option and pursue its previously announced wider development plans. In this regard, the principal route under active consideration would involve TomCo disposing of a majority stake in Greenfield to a partner(s) in return for, inter alia, certain upfront cash consideration, a continuing minority 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. Any such proposed disposal would likely constitute a fundamental disposal for TomCo pursuant to the provisions of Rule 15 of the AIM Rules for Companies and therefore be subject, inter alia, to the approval of TomCo's shareholders at a duly convened general meeting. In such eventuality, it would fall to the new majority owner(s) of Greenfield to decide whether or not to exercise the amended Option post completion of such proposed disposal. There can be no certainty that such funding proposal will ultimately be successfully concluded or as to the precise terms or structure of any such funding package or alternative financing arrangements for Greenfield. Further announcements will be made in due course as appropriate.

[talais] 06/6/2023 07:03

Well that us f@cked

[lukeisbackontrack] 06/6/2023 00:31

Priceless share price @ 6p
Rmart 1 Sep '18 - 18:05 - 5544 of 5917
0 2 0
around 3 years ago TOMCO market cap was £25m. This was purely based on their reliance on Red Leaf Resources getting Ecoshale to production.

Now, we have Red Leaf announcing they are partnering with Hatch and using the drum system to produce oil and announcing dates for lauch (2021) and Tomco now also have their own RF Tech to produce oil, with which we are about to start the field test in Utah and we are at £3m!.

Crazy Stupid Valuation as we still have the Ecoshale Licence, The $5m stake in Red Leaf and Turboshale.

10x bagger and much more about to appear here imo

[lukeisbackontrack] 05/6/2023 20:02

2006-2023 “ I am done with it, not getting back”

[lukeisbackontrack] 05/6/2023 19:57

2008 ” I am holding for double digits no matter what”

[lukeisbackontrack] 05/6/2023 19:53

“ likely I bought the bottom, my average is now 0.136”

[lukeisbackontrack] 05/6/2023 19:52

“I just spoke with my contact in Utah” deal is done

[lopodop] 05/6/2023 19:26

TD
ALL have To accept the ongoing remuneration arrangements.
Shares going down, as here, tend to continue their trajectory so 'most' investors have already kissed goodbye to their heirloom. Better that they close this book and take a well earned sabbatical.

[the diddymen] 05/6/2023 18:00

LSE's BB also absolutely silent today. Clearly no issues then.

[the diddymen] 05/6/2023 17:38

Every time the share price goes down the dilutional impact of the put option goes up.

Judging by the lack of commentary on the other thread everything is OK.

[fenners66] 05/6/2023 17:01

For a giggle...

"He is proficient in identifying, understanding and managing projects and applying optimal mitigation strategies."

[fenners66] 05/6/2023 16:59

New all time closing low - certainly has been a year for setting new records...

Now I started looking closely at TOM a few years ago.
Apparently as the gamblers told me , I have got it all wrong.
All the questions I posed , don't need answers....

How soon ?

[d1gger] 05/6/2023 15:30

yes just let hoopoo takover probably do better than this pack of jpkers (bod)

[vauch] 05/6/2023 13:16

Tomco had not RNS that Hoodoo where filing so wont be doing one to say it has been dismissed.
Some at Tomco had not a clue about it until I passed on the info.
If Hoopoo think steam extraction was a good idea then just buy Tomco and get on with it