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Pin to quick picksTomco Energy Share News (TOM)

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AIM WINNERS & LOSERS: Pound's loss is Argentex's gain; TomCo loan

Mon, 03rd Oct 2022 10:59

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.

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AIM - WINNERS

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Argentex Group PLC, up 12% at 101.63 pence, 12-month range 66.86p-110.27p. The foreign exchange provider expects a 75% rise in interim revenue year-on-year, forecasting GBP27.4 million for the six months to September 30. Notes strong client demand, as corporate client numbers jump to 1,393 from 1,242 a year before. Says recent historic lows in sterling have provided "exceptional short-term trading conditions".

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Future Metals NL, up 12% at 7.0p, 12-month range 6p-14.4p. The Perth-based platinum exploration company raises GBP500,000 in placing of 7.1 million shares at 7p. Also narrows annual loss for year to June 30 to AUD4.3 million from GBP6.3 million year-on-year.

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AIM - LOSERS

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Tortilla Mexican Grill PLC, down 28% at 105p, 12-month range 102.05p-200p. Says interim pretax profit shrunk to GBP264,052 from GBP2.6 million the year before, for the 26 weeks ended July 3. "Sales over the summer period were more challenging than anticipated, due to a combination of train strikes, the heatwave, and pent-up consumer demand for overseas holidays," the Mexican restaurant owner explained. Times remain tough with cost pressure still elevated, it noted.

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TomCo Energy PLC, down 16% at 0.40p, 12-month range 0.36p-0.75p. The Utah oil explorer draws down GBP375,000 of GBP750,000 unsecured convertible loan note facility, in "second and final tranche". Says funds will serve to bridge financing needs as it seeks to progress and finalise funding negotiations for a larger debt funding package for Greenfield and Tar Sands Holdings II site. "There can be no certainty that such larger funding arrangements will ultimately be successfully secured or as to the terms of any such debt facilit," it says.

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By Elizabeth Winter; elizabethwinter@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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12 Oct 2022 21:46

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3 Oct 2022 15:12

TomCo Energy draws down from second tranche of convertible loan

(Alliance News) - TomCo Energy PLC on Monday said it has drawn down GBP375,000 of the second and final tranche of the GBP750,000 unsecured convertible loan note facility.

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1 Sep 2022 20:37

IN BRIEF: TomCo Energy obtains USD750,000 unsecured facility

TomCo Energy PLC - London-based oil explorer in the US state of Utah - Obtains unsecured facility of USD750,000 through a convertible loan note instrument and associated subscription and put option agreement, entered with broker Novum Securities Ltd.

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1 Aug 2022 18:21

IN BRIEF: TomCo Energy extends loan repayment date to August 31

TomCo Energy PLC - London-based oil explorer in the US state of Utah - Announces extension to the repayment date for unsecured USD1.5 million loan from Valkor Oil & Gas LLC, used for the acquisition of an initial 10% of the membership interest in Tar Sands Holdings II LLC.

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30 Jun 2022 15:59

UK shareholder meetings calendar - next 7 days

Friday 1 July 
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Monday 4 July 
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Clean Invest Africa PLCAGM
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Distil PLCAGM
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FD Technologies PLCAGM
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Copyright 2022 Alliance News Limited. All Rights Reserved.

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28 Jun 2022 20:10

IN BRIEF: Tomco gets second extension for Valkor loan repayment

TomCo Energy PLC - London-based oil explorer in the US state of Utah - Says repayment date is extended again for unsecured USD1.5 million loan to its subsidiary Greenfield Energy LLC from Valkor Oil & Gas LLC. The loan now must be repaid by July 31. The loan was used to acquire the initial 10% interest in Tar Sands Holdings II LLC, back in November. The deadline was already extended once before to June 31, as TomCo announced in May.

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28 Jun 2022 11:53

IN BRIEF: TomCo Energy subsidiary looks for acquisition funding

TomCo Energy PLC - London-based oil explorer in the US state of Utah - In the six months ended March 31, reports a narrowed pretax loss of GBP678,000. The figure stood at GBP777,000 the previous year. Revenue remains insubstantial at GBP23,000, up from none a year prior. Looking forward, TomCo's says focus is on its wholly-owned subsidiary Greenfield Energy LLC and its near-term potential production plans at the Tar Sands Holdings II LLC site in Utah. Adds that Greenfield is engaged in discussion regarding possible funding options to achieve a 100% acquisition of the Tar Sands site, as well as the proposed drilling of a number of oil wells. Company currently holds a 10% interest in Tar Sands.

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31 May 2022 20:01

TRADING UPDATES: Cloudbreak signs royalty agreement; TomCo drills

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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1 Apr 2022 10:53

IN BRIEF: TomCo Energy records larger annual loss on higher expenses

TomCo Energy PLC - London-based oil explorer in Utah - Records a pretax loss of GBP10.3 million in 2021, wider than GBP1.1 million recorded in 2020. Blames this on impairment losses of GBP8.7 million that did not occur in 2020. Reports no annual revenue, unchanged from the year prior.

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10 Mar 2022 21:22

IN BRIEF: TomCo Energy signs deal with Vivakor over Uinta basin

TomCo Energy PLC - oil explorer in Utah - Signs memorandum of understanding of Vivakor Inc over a professional services agreement for the supply of engineering services, including sand treatment and oil upscaling on the Tar Sands Holdings II LLC site in the Uinta basin in Utah. Also entered a renewed lease covering three acres of land for a term of five years, and an option to extend for a further five.

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10 Feb 2022 14:40

TomCo Energy receives approval to drill exploration wells

TomCo Energy receives approval to drill exploration wells

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26 Jan 2022 19:13

IN BRIEF: TomCo Energy to provide services to Heavy Sweet Oil

IN BRIEF: TomCo Energy to provide services to Heavy Sweet Oil

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