Member Info for edgar222

Orslega

I think you are right and that I have misunderstood what Tomco already own.

They do not own oil sands acreage and need to find some, have set aside 1.5m to do so, have identified but not secured a site.

Orslega

Thank you. Very helpful.

I had always read that talk of securing land as the physical land on which to build the plant as opposed to new licences.

So Tomco dont have licences now with oilsands that can use the new tech? So proof of concept not yet reached as regards Tomco's current licences? If that is right that is a blow (to me). It becomes a secondary proof of concept adapting the tech to shale.

In which case why have a FEED and seek funding to run the plant? On what licence with what oilsands? I am genuinely confused.

So this may be a really stupid question.

The Tomco website describes a huge amount of possible oil in shale on their licences.

The Greenfield work being done now with Valkor on PQE licences is targeting oil sands.

My question is this. Is oil sands different to oil shale? Is the Greenfield work relevant to the Tomco licences. I have assumed it is, because why bother? But actually the Company website is unclear and does not explain.

Thanks in advance.

Thordon

Quite right that drill costs are covered. The Aminex carry is $40m but the total spend has to be over $100m for the Aminex carry to be exhausted. It is all explained in the Farmout presentation on the website.

Killer

I understand the sentiment behind that. But seismic starting. Massive and enlarged (from original plans) 3D seismic over an already proven gas field with chance of oil. Thats the only way to plan for full field development. Also, every seismic programme in the past (I include reprocessing) has increased the reserves by large amounts.

So not quite no news

They are doing the right thing. Battening down the hatches and waiting. As cheaply as possible.

They know and we know there is risk free, fully funded, big jam tomorrow. It is that simple.

Am in GWMO and the Board there have an EGM out cos of Brexit too.

They have emphasised how important it is that the motion passes or the share trading is impacted in a very big way. So everyone please vote.

Really good thread. I didn't find Tomco easy to research but I got there (with help here). Quite what they do and dont own is less clear than you would think but the posters on this thread are correct. What is obvious to me is that a lot of people believe wrongly that the current test production is Tomco production and it is not.

What a lot of people (de-rampers?) particularly on twitter are saying about production rate is also wrong. This is testing the concept. Does it work? They have just told us it does. Now they will increase production to test how much production they can get out of the concept. Tomco are aiming for a 10k BOPD plant from this technology. It has not been confirmed (yet) that the technology can handle that but there is no reason it can't (if it works at a slow level - the concept - why should it not work if you speed up).

So the news this week was massive (for me). De-risked (it might not have worked) and a clear multi-bagger in the making.

Tomco have positioned themselves very cleverly. They have no IP in this technology just a lot of oil sands. They are now at the forefront of the testing with Valkor (via Greenfield vehicle) and are learning every day.

IIRC the proactive video interview in October said the plant would cost $185m to build and revenues at 10k per day would be $160m per Year. There will be no problem raising the cash on that basis. And that was before the by-product sand was said to be valuable. If that is correct for Tomco's area then the numbers are significantly better than those (already attractive) numbers.

Very exciting times ahead.

...massive news.

Titm

Exactly the right approach here and I agree. Have battened down, holding with a view to add when I can (significantly if I can). The farmout meant the risk profile utterly changed for the better. The market will catch up when newsflow picks up. Back payments and seismic results seem to me to be the hoped for news. Early production system? Drill? Full field development?

Setanta1

I am much more positive about GWMO. Not only is production about to be confirmed but I heard Brian Hall say they would move to a production system based on gravity separation quite quickly. They would also look at leaching too. Either way regular production is the plan. I agree this may not be the huge boost hoped for but it does not have to be at 8m mcap.

The magnetometer has shown leads. As I understand it they are new leads past old fault lines beyond historical mining zones. The good news is that they dont need to buidl a road as they have decided a smaller rig will do. Massive capex and time saving.

So for me the possibilities are being proved up, the capex is coming down, production is round the corner and might be ok or suprise to the upside and the market cap is still very low. And there is cash in the bank.

Of course it might all fall apart and millions of things might go wrong but this is a tiny gold mining share. The evidence suggests to me that it is going forward in a positive way.

GLA

Many thanks everyone and aprogerson specifically

Really interesting conversation about valuations. Learning curve is exponential (much more used to O&G) and partly why I love shares! That and the hope of profit, of course.

On any analysis the GWMO upside is potentially massively exciting, I agree. But anyone care to pitch a target price by mid March assuming lab results are ok from spoil heaps and drilling has started? (I know thats vague but have a go!)

Starchild

Thank you. Answered what I was after. They are probably in or through the top target and know if there are HCs already.

Thank you list2309

Am in GWMO too. They are about one stage further than TOM in terms of proving the concept. But TOM is the revolutionary concept that is huge news if the tech works. Excited about both companies.

Lurking and reading up not holding, yet. So forgive the questions. Quite a lot to get your head around on the multiple projects, data and numbers here!

Is it fair to say that the next expected share catalyst is Falcon 1 production rates? I can see the various announcements by the company are positive about coming uplift to production from Falcon 1. But at first blush the absence of any indication of production rate to date (beyone the testing rates) may seem odd. Is there a geologocial reason for that? For example pressure decline before stabilising in this area.

Thanks in advance.

Can anyone tell me what sort of pace a drill like this goes at? Interested in feet/metres per day. Trying to work out (20 days in) how close they are to the first target in this multi-target well.

Joe

Been thinking exactly the same. Assuming the plant is on and processing has started is it fair to assume that someone somewhere knows whether it is oil coming out the other end by now?

And remember, not crude oil needing refined but usable oil.

https://twitter.com/proactive_uk/status/1347503832612397056?s=21

Tory red Brexit tape impacting GWMO. C**ts