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TOM Tomco Energy Plc

0.0275
0.00 (0.00%)
26 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Tomco Energy Plc LSE:TOM London Ordinary Share IM00BZBXMN96 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 0.0275 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Drilling Oil And Gas Wells -2.35M -0.0006 -0.50 1.07M
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.0275 GBX

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Posted at 26/7/2024 09:20 by Tomco Energy Daily Update
Tomco Energy Plc is listed in the Drilling Oil And Gas Wells sector of the London Stock Exchange with ticker TOM. The last closing price for Tomco Energy was 0.03p.
Tomco Energy currently has 3,904,135,277 shares in issue. The market capitalisation of Tomco Energy is £1,171,241.
Tomco Energy has a price to earnings ratio (PE ratio) of -0.50.
This morning TOM shares opened at -
Posted at 28/6/2024 18:16 by vauch
28/06/2024 5:52pm
RNS Regulatory News


RNS Number : 4575U
TomCo Energy PLC
28 June 2024

28 June 2024

TOMCO ENERGY PLC

("TomCo" or the "Company")



Delay in publication of 2024 Interim Results

and Suspension of trading on AIM



TomCo Energy plc (AIM: TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, provides the following update in relation to its unaudited interim results for the six-month period ended 31 March 2024 (the "2024 Interim Results").



The Company notifies that it will not be in a position to publish its 2024 Interim Results by 30 June 2024, as stipulated by Rule 18 of the AIM Rules for Companies (the "AIM Rules"), as it is currently in the process of seeking to raise additional equity and/or debt capital to provide sufficient working capital for the group to enable it to finalise and release its 2024 Interim Results. The Company currently has very limited cash resources but is carefully managing its trade creditors and deferring Directors' salaries and all non-essential expenditure whilst it assesses potential funding options. Whilst the Board remains confident in its ability to raise such additional funding, it cannot be guaranteed.



Accordingly, as a result of the current funding uncertainty and impact on the finalisation of the interim accounts, trading in the Company's ordinary shares on AIM will be suspended with effect from 7.30 a.m. on 1 July 2024 pending publication of the 2024 Interim Results. It is expected that suspension from trading will be lifted upon funding being secured and publication of the 2024 Interim Results in due course. Further announcements will be made as and when appropriate. The Company is targeting the publication of its 2024 Interim Results as soon as practically possible.



Notwithstanding the suspension of trading in the Company's ordinary shares, the Company will continue to make announcements as and when there are any developments that require announcement in accordance with its obligations under the AIM Rules.
Posted at 26/6/2024 11:31 by the diddymen
What is going on? Why did a Director of TOM speak to a shareholder about bonds - we know the implications of a bond and this is a very price sensitive issue. The Chairman of TOM needs to be investigating what was going on in this debacle of a company. No great surprises that the share price is tanking.


"goulding121526 Jun '24 - 08:16 - 31426 of 31430
0 0 0
I am completely appalled at how the directors treat their shareholders. It is not shareholders responsible for current share price. I and a friend have written to the Chairman. No reply

I was in contact with JP, a few days before his unfortunate death. He was going to London to meet the NOMAD, to see if he could send out a circular, as he was blocked from writing an RNS, until the Bond money was in TOM’s bank. So, it is not all the company’s fault. The interims should be interesting."
Posted at 26/6/2024 08:16 by goulding1215
I am completely appalled at how the directors treat their shareholders. It is not shareholders responsible for current share price. I and a friend have written to the Chairman. No reply

I was in contact with JP, a few days before his unfortunate death. He was going to London to meet the NOMAD, to see if he could send out a circular, as he was blocked from writing an RNS, until the Bond money was in TOM’s bank. So, it is not all the company’s fault. The interims should be interesting.
Posted at 15/6/2024 09:51 by the diddymen
Mixi on the now completely deluded thread:

"goulding121514 Jun '24 - 19:47 - 31412 of 31412
0 0 0
Yes, a lot of companies, after drilling and confirmation of excellent results, has got the oilers excited, still no comment from TOM. How surprising?"


Mixi you are completely deluded. This does not sit within the company's narrative strategy, TOM has no employees and no cash. Institutions lend to companies that have a structure to deliver, TOM does not have one.

TOM has no capacity to change its strategy. If the markets are daft enough TOM could raise a shed load of cash to develop another business with a new strategy but existing shareholders will be obliterated and the same BoD will deliver the same outcome for the new shareholders.
Posted at 27/5/2024 16:40 by 1dutchman
It is indeed odd that Talais & Co are touting the successes of the Valkor drilling campaign. They fail to mention that, short of TOM's (unknown terms) loan due to be repaid to Valkor, there is no longer any business relationship. To dig that hole a little deeper, apparently the last word out of Valkor re: TOM was that the two had 'fallen out'. So nothing that Valkor is doing now is of any consequence to TOM. Oh wait. There is, of course, the close proximity of Valkor's drilling to TOM's $20mm pink elephant licence, of which TOM owns 10% (with the remaining funds well overdue). Should Valkor's drilling on neighboring licences prove successful, can it be argued that TOM has some value in it's 10% license? No, it cannot. Because the economic valuation of an oil field all comes down to the capital and operational costs weighed against potential production. The fact that TOM's agreed to purchase the lease at 10x Valkor's neighboring leases means that, even if an expensive steam or huff & puff operation are viable, the economics would be abysmal. Any way you cut the cake, TOM really is out of luck.
Posted at 16/5/2024 17:45 by the diddymen
1d

Here is chatGPT's version of what notifcation of delisting and appointment of an administrator might might look like (For Mixi this is a theoretical scenario based on the recent going concern qualification in the recent accounts). Pretty tame stuff really.


"Subject: Delisting of TOMCo Energy from Stock Exchange and Appointment of Administrator

Dear Shareholders,

We regret to inform you that TOMCo Energy (Ticker: TOM) will be delisted from the Stock Exchange effective immediately. Additionally, an administrator has been appointed to oversee the company's affairs.

The decision to delist TOMCo Energy and appoint an administrator comes as a result of [brief reason for delisting and appointment of administrator, e.g., financial insolvency, failure to meet regulatory requirements, etc.].

The Board of Directors has taken this step with the intention of safeguarding the interests of shareholders and stakeholders amidst the current circumstances facing the company.

We understand that this news may be concerning to our shareholders, and we assure you that all efforts will be made to navigate this situation with transparency and accountability.

Further details regarding the delisting process and the appointment of the administrator will be communicated in due course.

For any queries or concerns regarding this matter, shareholders are encouraged to contact [contact information].

We appreciate your understanding and continued support during this challenging period.

Yours sincerely,

[Your Name]
Chairman of the Board"
Posted at 07/5/2024 17:45 by rmart
Just came accross this email from A YEAR AGO which I sent to tomco (3 addresses). Thought I would follow it up today, lol....

Dear Sirs,

I sent the email below 1 year ago. I notice nothing has changed (again).

Is there any progress? Are you confident of the funding for the project coming through?

Will it be the same at the next AGM?

Will anyone answer this year?

Regards

On 05/05/2023 09:27,
Dear Sirs,

I have been a Tomco shareholder for most of the last 15 years. Throughout all this time management have come and gone, all with a story to tell and all with a great project about to come good.

One thing that has changed for the worse is that we now have a current BOD that simply refuse to answer emails from shareholders, give themselves massive pay rises, whilst delivering nothing but a share price decrease for shareholders and, particularly in the last 12 months, simply give endless extentions to timelines whilst fundraise after fundraise goes on.

What is going on?
Is this deal going to get over the funding line or not ?
Is the recent £1m funding designed to just give you another 12 months where you can collect your wages whilst once again delivering nothing for the benefit of shareholders?

Regards

....

Guess what !, yup, 12 months of more wages and still the same old sae old. It is time for some answers or they should quit.
Posted at 06/3/2024 20:03 by fenners66
It seems to clarify that Jones ....

had a 14.24% stake on the 25th of October.

But as with every other long term gambler (holder) he was diluted when the company issued new shares
which began trading today.

He had 454,033,065 which would have been diluted today down to 11.7% from the 14.24%

So he reacted by buying some to get back to 13.76%

Meaning that even though he did not want to fund them directly he has still bought some

actually MURPHYL its 80m shares not 75m - just correcting you so you are not spreading false information -

He has lost a packet (presumably) already I guess he's trying to preserve the value of his stake ?

The only semblance of a reason I can think of (given TOMS lack of business prospects) is
that somehow (a bit like Musk) he has a loan and is using TOM shares as collateral - if the share price
falls any lower maybe the loan gets called in .

But will that end in tears ?
Posted at 27/2/2024 21:41 by goulding1215
A little bit deserted over here. So, while everybody is unhappy with proceedings so far, myself included but I do see some hope for the future. Of course it will all depend on the bond maturing for want of a better word, and cash in the bank. We all regard TOM as an oil company. Well it isn’t, it is a sand company, because the sand is worth more than the oil. Why? Because there is a world wide shortage of sand particularly silica for glass. The TOM machine produces 1.5 barrels of quality sand for every barrel of oil. Currently oil is selling at 77$ pho. Sand is selling at about 85$ per barrel.Tom will be unique in its revenue for one machine, maybe 2? We know that TOM Owns a lot of oil. Who knows what the sand is worth? The sand is not going away, been there a few millions of years, and with a world-wide shortage. There is no oil shortage even with Russia sanctions. So, I see the sand being dominant in the company’s future. The BOD actually said at the AGM 2 years ago “we are a sand company where the byproduct is oil. If we can get this funding sorted, I am hopeful that TOM has a bright future.
Posted at 04/12/2023 13:02 by fenners66
So the end of November reached and no news
of course not , there was never going to be.
Now according to the AGM reports they will have to come up
with another story.


As I said I looked at their AGM notes and they laid out so many red flags
but (maybe not surprisingly) the gamblers did not pick up on them.

So (I have been asking myself if I can be bothered) if we look at them
(always assuming their notes were accurate).

Their notes -

"Not been using Petroteq process for a couple of years. Nothing wrong with it but we're now using a better solvent and have made technical changes to the materials used in the process.
There is no IP impact with Petroteq."

Now this is the CORT process that used next to Zero solvent as a consumable
It was going to give oil and clean sand.
It's what TOM spent $1.5m on and as said on here it was NEVER proven as commercial.

This was supposed to be a game changer ... but its been abandoned without an RNS to explain why they spent
all that cash and moreover since it was obvious from the start that a CORT plant would never happen and Valkor
would never get 29% of TOM .....
again their AGM notes "

"Qn: With new 'go it ourselves' funding route, will Valkor still be entitled to 29% of Tomco?
JP: That was based on where Tomco were 2 years ago.
With this latest reserves based funding, it WILL be 100% that Tomco retains."

obvious no CORT no 29%.

But do the gamblers question?
No./

You burned millions $'s and no questions asked. Dumped Petroteq and no RNS - despite some on here trumpeting
PQE were going to sell more CORT licenses including to that ....err really credible - Netoil - ha ha no movement on that either.

TOM's cash has dried up now PQE delisting and refusing to file accounts , CEO resigned

All flagged from the start on here.
PQE takeover at 200% premium - fantasy never happened..... none of it.

But they swallowed everything TOM said - now they just accept that TOM has moved on to an unknown alternative.

Dream on gamblers.
Where have we been wrong ?
Tomco Energy share price data is direct from the London Stock Exchange

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