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He did say that we have funding to kick start our project, ?? Or is it just me
He also stated that Greenfield are working with Heavy sweet, We where told at last AGM Tom are not getting involved with the planed drilling.
We should get an Rns soon
He said we now have sufficient funds to kick start our projects,
He said we now have sufficient funds to kick start our projects,
Link, set to start at the relevant point https://youtu.be/Sd_dc7gYJ1E?si=-qmmsTo0z298QzkC&t=308
Regarding finance, this also has been an on off for 2 years + with so many different funding's.
from Ukraine to Mormons, and beyond.
Nope, as we wont be using their plant designee so no royalties to Petroteq.
But Tomco have a bad habit of jumping from one thing to another and not seeing the job through. eg Turbo Shale then Radio frequency, on to Sand extraction then Huff and Puff now back to sand extraction.
Vauch, What is holding us back?
Petroteq, surely not
Or Heavy Sweet Oil start to drill in March. the wells for huff and puff
Well as we await to hear the real story from an RNS.
Has anyone seen the price of our biproduct the sand, last time a price was put on it was around $15 a tone now over $70
Funding is being sort through the bond markets, so not sure how far along it is as hear many different answers from different sources.
No two seem to match.
This firm is as dead as the dodo
'but it can certainly be made much easier depending on your business plan.'
Therein lies the problem, TOM has lurched between not having one / chasing the golden goose
@ Wonga,
The funding Tomco are trying to obtain is around $200 million which includes the funding needed to buy the remaining 90% of TSHII, and no one would fund Tomco without Tomco attaining the land needed for the job. As the land is tied to the overall funding of the greenfield project, and no one would offer to fund Tomco for the land without the funds needed to go ahead with their Greenfield project, then it stands to reason that they would have always struggled to gain funding in any capacity, as one is intrinsically tied to the other.
Now, if Tomco had originally applied for funding to purchase TSHII along with a growth plan to obtain one or two 250bpd RPC units and then rapidly scale up from there off the back of revenues, then the overall funding need for the TSHII land and unit/s would be close to around $20-30 million instead of the $200 million they are asking for now. Also, if they did this back when they were averaging between 0.5 - 1p with a market cap of around $20+ million, which they were hovering between for many years, then you can see how easy it would have been for Tomco to reach an easy agreement for such funding. Ofcourse this is all just rough estimations, but close enough to the mark to show that from a financial perspective it would have made so much more sense. Having said all that, even now with their very low market cap they would have a much easier time getting funding for the TSHII land along with a staged growth plan with Vivakors RPC units than they ever would for their current an extremely audacious funding for both the land and two 5k bpd plants which have never been built before. So I guess its more that they would have a much easier time when compared between the two routes rather than them having an easy time getting funding overall, obtaining funding is never easy, but it can certainly be made much easier depending on your business plan.
So no news from any side.
Will JP still be running the show in a years time.
Its a game with Tomco and will the truth ever come out.
Funding has suppose to have been sorted is it 3 or 5 times now, and yet hear we are.
Crownos; "I personally think Tomco should completely dump their strategy to get funding for two 5k bpd plants and start small and work up with Vivakors 250 bpd train RPC tech, which they could very easily get funding for."
What makes you think they could easily get funding? They have been trying for years to get the funds to buy the remaining 90% of the TSHII lease, without success. Heavens, they even had to borrow from Valkor to buy the original 10%. No one is going to lend these amateurs the funding required, even for a 250b/day plant.
I posted this on Tomco's reddit board, but I thought I'd post it here too.
I've said it a number of times here before, but I personally think Tomco should completely dump their strategy to get funding for two 5k bpd plants and start small and work up with Vivakors 250 bpd train RPC tech, which they could very easily get funding for. They have pretty much screwed themselves by going down the route of their, "Go big or go home" strategy, as funding has been a real issue for nearly 2 and a half years now, with no postive outcome in sight, not to mention one of their funding strategies involves possibly selling most of their Greenfield project in order to fund the damn thing, which seems rather backwards to me when you consider the other option out there where they could keep their 100% stake and just grow over a slightly longer timeline.
If they started small with 1 RPC unit from Vivakor and stacked the 250bpd trains to reach their 10k bpd goal over 2 and a half years ago, then Tomco would most likely be at least half way to their goal by now, with large and strong revenues for shareholders. Their current buisness model was and is a complete and utter long shot, and right now it is priced to fail with only a tiny thread of hope left to save them. Tomco seriously need to get real and go with what they know works, and Vivakors RPC units do exactly what these 5k bpd plants do and are known to work, just on a smaller scale, but can very easily be scaled up to capacity over time.
Even if Tomco make a complete uturn and changed their strategy now to go down this slightly slower but more exponential growth road, then I could see funders from all over throwing money at them to get started with revenues no doubt coming in within just a few months. But their continued stupidity in going for such an audacious $200 million or so of funding when they themselves are worth almost 100x less than that, is just ridiculous and a bad business model and decision overall. I can only hope they wake up and smell the funding coffee burning and get the company back on a more realistic track to revenues, hopefully the drilling end will come up with something as I don't see a future for Tomco if they keep towing this ridiculously high pie in the sky funding route. I do also hope that the board read these threads, but I have my doubts they even care what their shareholders think.
Wise words dfg4699! I love the Glug glug glug! Not convinced about roosting chickens and deceased ducks. Upwards & onwards as far as long-suffering shareholders are concerned.
Thanks for that, what a palaver
Do i need to get an account to use it?
Second bit was
t.
me/
stick its all together :-)
so here's the link, but you need to add the https://
then ****/
then the rest
+uzrekh3cbqsxndvk
Hi can you message me the link please
Got a link, how do I post it?
*************+ot08ye6kx-9lownk
*************+ot08ye6kx-9lownk