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
  0.01 1.39% 0.73 17,037,821 16:35:11
Bid Price Offer Price High Price Low Price Open Price
0.73 0.74 0.735 0.72 0.72
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -1.07 -0.30 11
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:11 UT 20,000 0.73 GBX

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Tomco Energy Daily Update: Tomco Energy Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker TOM. The last closing price for Tomco Energy was 0.72p.
Tomco Energy Plc has a 4 week average price of 0.39p and a 12 week average price of 0.39p.
The 1 year high share price is 2.10p while the 1 year low share price is currently 0.39p.
There are currently 1,451,412,012 shares in issue and the average daily traded volume is 60,478,551 shares. The market capitalisation of Tomco Energy Plc is £10,595,307.69.
damac: Good points raised Fishy. I asked folk on here the other day to consider the potential savings alone from non-payment of royalties to any landowner. I think it is worthwhile repeating again albeit with the adjusted resource figure of 49m barrels as opposed to my previous (wrong) figure of 55m. Typical landowner royalty fees on a SiTLA licensed site range from 8-12.5%. I am also using the figure of $65 profit for a barrel of oil (sand sales wiping out production costs on the oil). 49,000,000 x 65 = $3,185,000,000 10% (average) in royalty fees to a landowner would be $318,500,000 That is an astonishing saving over the life time of the mine and a cracking piece of business by Greenfield. With regards to your other points about cash reserves etc. The previous results stated we had enough cash to see us through to June 2022. Since then there has been some unexpected requirements on upgrading the plant which you logically have to assume has eaten into cash reserves, so I personally expect some sort of small cash raise at some point going forward. Just going back to the unexpected costs on the upgrade for a minute though, people need to appreciate that when Greenfield took over the POSP it was in a considerable state of disrepair due to poor maintenance and ageing components. Subsequently, when going through the upgrade process, Greenfield had to incorporate additional unexpected equipment to get the plant to a stage where they could get the data required for FEED, satisfy the 3rd party verification and satisfy potential lenders of funds for their own plant. Therefore, it was necessary and unavoidable additional spend. I'm further led to believe that the current state of the plant (despite the upgrades) will be a major factor on if any agreement is struck to extend the management of POSP by Greenfield as it could be a case of they would spend more time (and cash) on fixing further broken down ageing components than they would be able to spend producing oil & sand. You talk about a hypothetical potential raise of £1m at 1p per share. The only fly in the ointment on that is that the share price would have to be North of 1p for that to happen. Getting the share price there will take some significant RNS's and some significant commitment from Tomco in terms of PR. Important RNS's should be landing soon, the company need to get their finger out and promote them to get the share price above 1p in my opinion. I'd also like to think that any small raise would be after all of the following news is out. Production update Feed completion/publication 3rd Party verification Interim results Land deal One last point on any potential small raise, I hope the company consider it by way of a Rights Issue so that only existing shareholders can benefit from new shares being offered at a reduced price and at a suitable conversion rate.
ducky fuzz: 9 June 2021 TOMCO ENERGY PLC ("TomCo" or the "Company") Greenfield Update : Conditional Site Purchase Arrangement TomCo Energy plc (AIM: TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, is pleased to announce that Greenfield Energy LLC ("Greenfield"), the Company's 50/50 joint venture with Valkor LLC ("Valkor"), has entered into a membership interest purchase agreement (the "Agreement") with Endeavour Capital Group LLC ("Endeavour") and Tar Sands Holdings II LLC ("TSHII") with respect to the potential acquisition by Greenfield of up to 100% of the ownership and membership rights and interests in TSHII (the "Membership Interests"). TSHII owns approximately 760 acres of land and certain non-producing assets (the "Site") in Uintah County, Utah, USA. Greenfield plans, subject, inter alia, to the completion of satisfactory due diligence and securing of the requisite funding, to use the Site, if ultimately acquired via TSHII, for the future mining of oil sands and construction of a commercial scale processing plant utilising the findings of the FEED (Front-End Engineering and Design) study, once finalised and the process independently verified, and other knowledge and experience gained from Greenfield's operation of Petroteq Energy Inc's existing oil sands plant at Asphalt Ridge, Utah. (the "POSP"). The Site has existing infrastructure, plant and equipment, together with an existing Large Mine Permit No. M0470032, that could facilitate any future development by Greenfield. Pursuant to the terms of the Agreement, Greenfield has paid a non-refundable deposit of US$200,000 to secure a 90 day period to undertake due diligence and an exclusive option for up to 120 days to acquire an initial 10% of the Membership Interests . Greenfield can exercise its right to acquire an initial 10% of the Membership Interests for cash consideration of US$2 million (against which the deposit shall be credited) on or before 1 September 2021. Following completion of the acquisition of the initial 10%, Greenfield will then have an exclusive option, at its sole discretion, to acquire the remaining 90% of the Membership Interests for additional cash consideration of US$15.25 million, if acquired on or before 31 December 2021, or US$16.25 million if acquired between 1 January 2022 and 31 December 2022. Greenfield has the right to unilaterally terminate the Agreement at any time during the initial 120 day period from its execution for no penalty save for forfeiting the upfront US$200,000 deposit. The Agreement also contains certain commercial and other representations and warranties between the parties customary for a transaction of this nature. There can be no certainty that Greenfield's due diligence exercise will be satisfactory or that the required funding can be secured to complete the acquisition of a 100% Membership Interest and further announcements will be made as and when appropriate. Commenting, John Potter, CEO of TomCo, said : "I am delighted that Greenfield has secured the right to acquire, via TSHII, a suitable site for the potential construction, subject to funding, of its first commercial scale plant. The Site has the key attributes that our JV has been seeking and Greenfield will shortly be commencing detailed due diligence, whilst simultaneously progressing discussions with potential funders. In the meantime the POSP continues to produce saleable oil and sand and we look forward to providing further updates in due course as matters progress." ======================================== Thinking about TOMco's potential need for money and people worried about another equity fundraise. I would think that when the following are announced ...... 250 barrels of oil in a 12 hour period. Good FEED study 3rd party results. Details of cash received for sale of oil and sand. Details of the land sale purchase. Recoverable barrels of oil etc .. 90 million dollar finance confirmed Refund of money owed to TOMco by Greenfield. ..... then the share price should be significantly over 0.9p and the most recent warrants will be cashed raising 5 million pounds.
goulding1215: AJJ i doubt if the CEO is even aware. The day oil sale announced the TOM share price goes down. With a decent CEO the share price should between 1 and 2 p, after these 2 announcements.
damac: Ducky, Outstanding warrants (in order of expiry) Turner Pope - 771,429 warrants at an exercise price of 3.5p for a period of 2 years from 14.08.19 - Potential value to Tomco = £27,000 Turner Pope - 8,538,462 warrants at an exercise price of 0.65p for a period of 2 years from 04.12.19 - Potential value to Tomco = £55,500 Whoever took part in placing - 71,153,846 warrants at an exercise price of 1.5p for a period of 2 years from 04.12.19 - Potential value to Tomco = £1,067,307 Turner Pope - 4,125,000 warrants at an exercise price of 0.4p for a period of 2 years from 08.07.20 - Potential value to Tomco = £16,500 Whoever took part in the placing - 187,500,000 warrants at an exercise price of 0.8p for a period of 2 years from 08.07.20 - Potential value to Tomco = £1,500,000 Whoever took part in the placing - 388,888,888 warrants at an exercise price of 0.9p for a period of 2 years from 30.11.20 - Potential value to Tomco = £3,500,000 Novum Securities -46,666,666 warrants at an exercise price of 0.45p for a period of 2 years from 30.11.20 - Potential value to Tomco = £210,000
busamitch: From Twitter @lmnd____ Question: Unsolicited offer that you’ve had from a Swedish agent acting for an undisclosed third party. What’s the company’s view on this? Answer: To be honest we haven’t been able to gather a whole lot of information. We first learned of the offer from some of our European shareholders around the 20th 21st of May, I believe the offer may have been posted in Germany prior to that. At the time we learned of the offer, we sent them, via council an email for more information, which frankly has not been forthcoming, they indicated that they would, that they were acting on behalf of an unidentified third party, and that they would issue a press release at some point in the future, which I believe they did this morning. There was a press release this morning that basically restates the offer posted in Germany of 200m of shares at 0.48 euros per shares, subject to their terms and conditions looking to close the offer by the 30th of June. They indicated also that once they’d reach the reporting requirement for North America they would make the required filings. This again is, if you will, something that was issued today. Our last press release on the topic we indicated that we had not been able were not able to get additional information other than on the Bundesanzeiger. If I pronounce that right. We are not able to comment on the legitimacy of the offer and whether or not it applies to applicable law. But again as they said, they would issue a press release when they were ready. According to our council it doesn’t appear that the offer extends to the shareholders in the United States or Canada. At this time all we can do is to ask the shareholders looking at the offer do their own due diligence, because we have nothing new we can offer on the topic. Question: So you’re not able to comment on whether it’s a genuine offer or not? And you haven’t had any real dialogue with them. Answer: That is correct, we have had no dialogue with them, other than an exchange of emails, where very little information was forthcoming, no more than in the announcement. That’s all we know at this time. Question: The offer has undervalued the company. What basis have you come to that conclusion on? Answer: Well. It really depends on whether you’re looking forward, or where the company is today. The Utah tar sands have been around for many years, and there’s been no way to produce them commercially. The clean oil recovery technology of Petroteq seems to be, or is, a means of producing that, those resources commercially. There’s over, well depending on whose, there’s somewhere between 15-20 billion barrels of tar sands in Utah, that until now, have not been commercially producible. So if you think, and I would hate to compare us to George Mitchell, who was a pioneer in the oil and gas industry, but Mitchell Energy was a little known company, until he, after ten years, was able to commercialize fracking. And ultimately Mitchell was acquired by Devon in 2002 for $3.5 billion. So, opening up the a new production area like the Barnett Shale was done by Mitchell Energy. There is significant upside if you have a means of producing the petroleum commercially and economically, and in today’s world of course, with a green technology. Ours is a closed loop technology, no tailings, so we do believe that we have a slightly better mouse trap, and probably the only one that works for mined tar sands in Utah. Question: Just looking at the company then, I understand that the focus is on oil, but the sand is also very valuable. Can you explain a little more? Answer: Yes. Basically, the bitumen is in a sand layer. Once we extract the bitumen from the sand, which we do with a closed loop system using a solvent, we end up with a two outputs, the bitumen and cleaned sand. We sent the sand away for testing, its come back that roughly 70% of the sand 40 to 140 mesh range, which are ideal sizes for fracking, and furthermore the sand has a crush strength in excess of 7000 psi. So very high crush strength, good grain size, good grain shape if you will, and suitable for use as a frac sand. We sent it to a lab in Austin, Texas, which specializes in that side of the industry. And they came back in both instances. We sent two samples, one from the Temple Mountain ore, and one from the offside site ore, both came back as suitable for frac sand use. So that is a potential way to reduce operating costs, or generate additional revenue through the sale of that sand. It also has use for, potential use, as an aggregate for cement and/or concrete. So there is a use for the sand. Question: Can you give us a feel for the current pricing differentials on frac sand and concrete sand? Answer: Frac sand right now and fracking is down quite a bit, it goes for somewhere about 40 to 60 dollars a ton. Construction sand, probably closer to 12 to 15 dollars a ton. We produce roughly 1.5t of sand per barrel of oil produced. So, construction sand at 12 to 15 say, you’re looking at a sales value of, again if you can sell it regionally, somewhere around 12 to 15 dollars per barrel. The frac sand we’re working with a local drilling fluids company, as they have the contacts and the way to distribute within the area, say Wyoming, Colorado, and so forth. So we will probably, we’ll end up sharing the upside in that sand. But I would expect we would ultimately end up, receiving somewhere on the order to 15 to 20 dollars per ton on that sand, which would be somewhere on the order of 20 to 30 dollars per barrel of bitumen produced. So you can see it would be a significant offset to the cost of production. Question: What price would you get for the oil. Answer: The oil of Utah is unique, because although it’s a heavy oil, its low on sulfur. In effect you have a heavy sweet oil. Sulfur content is 0.2% to 0.4% as compared to 3.5% to 5%, typically in heavy oils, like you find in Canada or Venezuela. Because the sulfur content is quite low, it makes the oil a very attractive addition to a refining splate. Typically we receive a price, a very slight discount to WTI. West Texas intermediate currently at 68 dollars per barrel, we expect to receive somewhere north of 60, probably closer to 65 dollars per barrel for the oil that we produce. The process is producing the oil with very low BS&W, and as I said it’s a sweet crude, which is unique in the heavy oil world, if you will, for it to have such a low sulfur content. Question: What is the route to market? Do you plan to sell directly or via an offtake partner? Answer: Right now for the oil we basically have a number of potential buyers in the area. Historically we have sold the oil to a refinery in Nevada, it’s a small refinery in Nevada that manufactures diesel and asphalt. But Salt Lake City has, I think its five refineries of total 200bb/d refining capacity. Once we get to the position of having consistent production, we will be able to look further afield, to Salt Lake City and possibly beyond for buyers of the oil. Because historically we produced in fits and starts, we’ve pretty much have had to sell on the spot market. So, we will be looking to firm up the distribution channels for the produced oil. Particularly once the first commercial 5000 bbl commercial plant is built. Likewise on the sand we will probably continue to work through the drilling fluids company because they have facilities for cleaning, sorting the sand, and delivering the sand. Something that we would have to add, before we’d try to market it directly ourselves. Question: Can you expand on the expansion plans? Give us an idea of the roadmap? Answer: Yes we’ve, to be frank, right now Petroteq is working together with Valkor Energy and Tomco of the UK. Had they not, Valkor has been a technical partner, that has basically helped with the redesign of the demonstration plant. The feed for the 5000bbl/d plant, that they’re looking at possibly developing together with tomcod under their joint venture greenfield, and the monies that they have contributed to the upgrade via the license fee, and so forth, without that we’d probably we would have been in a tough spot to get the demonstration plant modified to where it was reliable and running consistently. So we do have a, if you will, a loose partnership with Valkor and Tomco, Greenfield as well. And the technology is licensable to other third parties potentially. The license fee for the technology was 2 million dollars, which has been used to upgrade the plant. Tomco and Valkor have contributed additional monies to get the plant up and running, which will be repaid from production. A third party coming in, would be expected to pay the same license fee, because of the advance of the fee, Tomco and Greenfield actually has a right to use the technology in multiple plants and we would hope they would build multiple plants. So they will get tremendous bang for the buck on that two million dollar contribution towards the license. They also, there’s also a five percent royalty on production, using the clean oil technology. So Petroteq will benefit from each and every plant that gets build, and Petroteq will likely build its own plants as well, subject to financing. Valkor has recently leased upwards of about 16.000 acres of oil sands leases in the asphalt ridge area. They’re positioning themselves and we would hope to work with, and develop some of their leases with additional plants. A plant, one of the highest costs of production, is in fact the transport of mined ore to the plant. So you would, plants really need to be located within a reserve base of about 35m bbls of reserves in the ground, mineable reserves, a 5000 bbl/d plant can run for 20 years. And obviously if you start talking mineable reserves on Asphalt ridge, you’re probably talking on the order of 1.5 billion barrels. So there is the potential for multiple plants in the area. Some developed directly by Petroteq some by Greenfield Tomco and Valkor together, and some potentially some by third parties. Question: What is the current status on the Nasdaq listing? Answer: The company applied in 2018 for a Nasdaq listing and received conditional approval, which would have required a reverse split at the time. I believe if I understand it correctly, the paperwork was filed for Canada, but not the US, so it did not come to be. We would certainly reconsider when conditions are right, listing on the Nasdaq. For the moment there are no immediate plants to do so, but we would hope to do so in the future.
goulding1215: I think a lot of the arguments are based around MSRA or not. In the rns it states this The Company has now received a draft of the FEED (Front-End Engineering and Design) study that has been previously outlined. This includes data from testing a number of items of additional equipment that could be utilised in potential future commercial scale plants, as well as reflecting input from a subsidiary of a leading global oilfield services company to further optimise the efficiency of the POSP's solids control process. Furthermore, significant work has been undertaken as part of the test operations and FEED study to identify how best to process the various types of ore that are likely to be encountered. Basically the POSP has been modified + most importantly a subsidiary of a leading global oilfield services company to further optimis√© the efficiency of the POSP’S SOLIDS CONTROL PROCESS. THIS IS THE MOST IMPORTANT PART OF THE PROCESS. has the plant been improved to the point that thy do not need the MSAR process? We will not know until the company state the quality of the oil at the end of the process. Obviously, I would expect it to be better than bitumen after the new additions to production. As usual TOM leave out important information which would solve these disagreements. But hey, oh why can they not release a press release as PQE? Much more effective than cold technical rns’s. The last time when TOM had a huge rise was when the Daily Mail had a half page spread on TOMCO. Come on JP get the PR company working on TOM THE CLEAN-ENERGY Oil British company working in Utah. It is not difficult. Or get one of The NED drones to work it from London. Even a 10 minute shot on the TV news now that all the equipment is in place. It is not difficult if you make an effort. Get the goddam share price moving.
goulding1215: Bigberty, I think because there is an offer to buy shares in PQE higher than the current share price Tom is a update on progress, which is making excellent progress, and will be getting revenue plus loans repaid. If the offer to PQE is turned down, their share price will tank.
ducky fuzz: 1 June 2021 TOMCO ENERGY PLC ("TomCo" or the "Company") Greenfield Update TomCo Energy plc (AIM: TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, is pleased to provide a further update in respect of the work being undertaken by Greenfield Energy LLC ("Greenfield"), the Company's 50/50 joint venture with Valkor LLC ("Valkor"), with respect to Petroteq Energy Inc's ("Petroteq") existing oil sands plant at Asphalt Ridge, Utah (the "POSP"). The Company has now received a draft of the FEED (Front-End Engineering and Design) study that has been previously outlined. This includes data from testing a number of items of additional equipment that could be utilised in potential future commercial scale plants, as well as reflecting input from a subsidiary of a leading global oilfield services company to further optimise the efficiency of the POSP's solids control process. Furthermore, significant work has been undertaken as part of the test operations and FEED study to identify how best to process the various types of ore that are likely to be encountered. The FEED study will be finalised following the Company's and Greenfield's review with the third-party verification exercise on the process also nearing completion, with all planned on-site activities having been undertaken. It is therefore currently anticipated that the FEED study and the third party verification work will be finalised by early July 2021. Further to the lifting of the Cessation Order on 25 May 2021 and resumption of operations at the POSP, the rate of production has been increasing such that Greenfield anticipates that it will shortly reach the targeted production level of 250 barrels of oil per day. Oil of sufficient quality and quantity has now been produced by the POSP to enable an initial shipment of 250 barrels of oil to be made. Greenfield is also working with a local specialist firm to identify potential customers for the processed sand. They have already taken an initial load of 40 tonnes and is anticipated to take a further circa 500 tonnes of processed sand over the coming weeks. All proceeds from the sale of oil and sand will be retained in Greenfield. In addition, Valkor, on behalf of Greenfield, is currently in discussions with the landlord of the POSP site to seek an extension to Greenfield's lease for a further six months from 1 July 2021. Should an agreement be reached, Greenfield would then intend to continue operating the POSP for as long as necessary in order to provide an appropriate demonstration site for potential funders of the planned future commercial scale plants. Further updates will be made as operations progress. Commenting, John Potter, CEO of TomCo, said : "Despite the short interruption from the Cessation Order, I am very pleased with the progress that has been made. Receipt of the draft FEED study and the production of the first load of oil for sale from the POSP are significant milestones for both Greenfield and TomCo. I believe Greenfield is now well positioned to move forward with sourcing the requisite funding for the potential construction of its first commercial scale plant and look forward to providing further updates in due course."
rmart: they wont be happy as the tom share price is increasing ! lol.. :-)
goulding1215: With PETROTEQ is doing so well, is indicative that the POSP testing by Valkor is successful. This should lead to a positive pre FEED report, to say that GREENFIELD can go ahead with their own plant. Which answers some of the questions omitted by the TOM board. However, it is probably the TOM BOD preventing the TOM share price following a similar path.
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