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No news very good imo! Somethings brewing or brewed
And no update on landlords extension for Tarsands 2,
I personally think the funding news will come this week, imo
Well his last holdings RNS says
Resulting situation on the date on which threshold was crossed or reached
14.24%
454,033,065
That is currently worth £414,384
Imagine what it would be worth should TOM get funding and be successful with it's project!.
I think he will be supporting TOM until funding is secured.
Interesting pov. Makes a lot of sense if looking at it in lehmans terms. Apologies for being lazy but how much has he pumped in to date? It’s great to have such backing and the reduction in his last investment would suggest somethings a foot. Either that or he overdone it on the Xmas shopping?
We also know that TOM got £100,000 on 13/10/23 then another £50,000 on 02/01/24. If you work out the burn rate on the £100k it's 82 days, then the £50k would last 41 days which takes them to 7 days ago, but no further raise last week, not even another £50k from our very supportive shareholder.
So that to me says the deal sign off was so close last week that they decided not to get any more cash, or they will announce another £10k to £50k raise this week. I'd thus put the chances of an RNS this week at a high percentage chance.
Trio’s CEO, Michael L Peterson, stated: “We are extremely excited to be participants in the effort to develop the giant, world-famous and world-class Asphalt Ridge heavy-oil and tar accumulation into a highly profitable oilfield. It is excellent to be able to diversify our exciting portfolio of California opportunities with such a high-potential asset in Utah, especially one that will not require a lot of additional capital expenditures according to the operator’s development plan. Development is commencing now and, with success, the Utah asset may be cash flowing in mid-2024. We now have two major assets in our portfolio, the South Salinas Project in California and the Asphalt Ridge Project in Utah. We are diligently seeking to execute on our business plan to build cash-flow, ensure the success of the Company, and to increase shareholder value.”
If you read the bottom paragraph think Tomco are also tide in,
https://finance.yahoo.com/news/trio-petroleum-corp-announces-option-110000256.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cucmVkZGl0LmNvbS8&guce_referrer_sig=AQAAAHSKXu9T302rt286tAW3TweHvVHbLnFqAig-D0KlYFzp3L-AmGdzpnLAm7o_W_VxgjID91yMhEkLxjlvveoZVI61fEkHgn0vbg3LNe_Tr-J7wWOQwTBNsl5FbxqIw8BBw3xCzdQ2MyvyuRSHCf5ItDIKAwHN_zD4sCaFr5wTpCLr
Well he seemed pretty sure it's coming together and mentioned Greenfields first, then added in an.. or this or that which is what you'd do if you wanted to back out a bit.
And the timing fits pretty well with this froma few months ago -- This is Tomco talking funding!
https://www.youtube.com/watch?v=Ca3jR5_6zmE&t=304s
Looking v positive to me, too good to be true?
Is the market sleeping? -- I don't know but I do expect to see some gains with #TOM and quite likely to see big gains.
DYOR
Well on Monday if we get another rise of 100% or over then it is definitely on.
Either way we know funding is due as it was dec then jan early 24. You could question the hesitance or you could say why was what he said worthy of a 40% move after a couple of posts on a bb.
Something brewing, let’s see the market reaction on Monday, gla
Bang on!
He's basically saying, we await confirmation of financing for any of the three potential Utah projects. Not one inch further forward on any of these projects as far as we know. Much hype over nothing...
@Soulac
It seems that what hes said has been taken out of context or that his erms and urrs have muddied the water on some of the sentences which are directly linked to one another. I listed repeatedly and copied down pretty much what he said verbatim, minus the obvious erms and urrs. And it was pretty much this.
"We are looking forward to receiving that one of their projects, the Valkor projects with Greenfield or with Heavy sweet oil who now incorporate Trio petroleum, the US or even indeed Ecoteq, that each one of these projects has raised sufficient project finance to kickstart the site licence supply agreement that we have in place with them during the second quarter of the year."
If you read what he says in the beginning, then the "We are looking forward to receiving that one of their projects" matches with "has raised sufficient project finance".
Overall, he is simply saying that he "Looks forward to receiving news that one of the projects has recieved funding", not that they have received it. So no, he doesn't state funding has been recieved, he just looks forward to the news of it, whenever that will be.
Seems to me that it’s happening in the background and QED Ceo let it slip! Otherwise why mention it and change topic. This will fly on Monday with or without news it’s coming lads
Listen at 5mins 30sec ,
He definitely said that each one of the projects mentioned have all go sufficient funding to kick start their projects, all of them , as some one said yesterday they all could be linked,
Roll on Monday,
Same old same old.
Bang on.
Today we got a snippet.
Tomco will update us when it's sorted.
What garbage. Proactive are there to give CEO's the platform to purvey information that clarifies what's in an RNS, which is precisely what has happened with QED today, a LOT of clarification and insight into what is happening with the deal they announced yesterday, plus a chance to update investors on all of the current projects status including those in UTAH, which is where the market picked up on the mention of TOM funding.
It makes feck all difference whether QED pay Proactive for the service or not, that is just baseless conspiracy theory tin foil hat rubbish.
And silence from TOM on Monday also means nothing good or bad, all it means is they are carrying on with their business just as we expect them to.
Thnanks for the link, but to me, Proactive Investors is just Paid for PR... I shall awaait the fall on Monday along with the silence from Tomco...
DRM don’t worry about he1 moves done! Focus on the next! Tom has massive potential even if it’s been a sleeping giant for a year or two. Little hype and it will be back up nearer 10-15m mcap not a puddle 3
Have a listen yourself.
https://youtu.be/Sd_dc7gYJ1E?si=-qmmsTo0z298QzkC&t=308
Have I missed something? Or is this speculation that we are going to get good news on Monday?
Crownos,
Seems the market has just woken up a bit to the ridiculously low valuation versus the huge potential of the project.
That QED are still talking about TOM getting it's funding is probably good enough for a lot of punters. That all three projects could get funding is great for QED too.
And a cost of only $20/bbl leaves a lot of profit.
PRODUCTION COST TARGET
$20 < per bbl
https://www.petroteq.com/operations/