Member Info for minimil

@Ometoe - I can't think of any other reason why they would go in this direction. Last RNS was fine as far as reporting the reserves but pretty useless in terms of progress of the exploration drills and of course finding. These wells are expected to produce 100 bbl/d but there was no updates on the costs, timescales, and crude quality following the proactive interview in November. Main reasons nfor share drop in my opinion. Hopefully they will realise this and provide a positive update soon.

Was nice to see this after my earlier post this morning, but disappointing to say the least.
I have invested in AIM companies since 2008, some great and some duds. But this latest update smells of the Moon and Rocket to me now. They have 10% of the land, with infrastructure to develop the 5k plant. Why have they not got the $$$ backers yet?

Yup, approaching middle of January. Would be prudent to update shareholders on the planned progress of activities stated in the interview. Primarily the results of the exploration drills and the funding for the 5k plant which is scheduled for Q2 2023.
If this comes to fruition in that period then 5000 bbl/d plant + 25 wells@100bbl/day followed by train2 5k plant bodes well for the future. Even taking into account poo of $60/bbl would imply revenues in the region of $250MM/yr. Staggering imo.

@parmxz - sorry mate I cannot divulge just yet as I am still accumulating as well as reading up on a company that does not trade that much.

@BFM - 3 exp and 25 producing wells sounds great. What is the COS on these exploration Wells? What is the cost of the drilling programme itself and who will be funding it? Another loan from Valkor with another ridiculously high interest rate?? If this activity is to support funding and no share dilution for the full scale CORT then they should say so.
Recent RNS still stating they are seeking funding but with the proviso of no guarantee. We have all done our calcs and have similar numbers for revenues from the 5k plant. I find it difficult to understand why they cannot get funding yet on those numbers.

Just taken most of my profits and decided to put into a potential sleeping giant. Fact that I could sell so easily bodes well for the remainder of my investment with TOM. I would still like see the business plan from TOM themselves as opposed to the people on this board. No offense intended btw.

Let's hope you are right BFM ;)

@ohmtoe - tend to agree. It's been very slow progress to get where TOM is now since the final FEED was received end of July and the Valkor acquisition one month later. I hope they don't spend so long getting the funds to build the plant especially with poo. Now that they have some land they are in a better position to source funds. I just hope they don't sit on their hands .

About time Valkor put its hands in its pockets! Positive news anyway, but not getting carried away until we here about funding for the 5k plant and when it will be built and operating.

About time they stuck their hands in their pockets! Positive news either way, but not getting carried away until we hear about funding for the 5k plant and when they anticipate it will be built and operating.

@borrow.. From the last RNS "The extension of the above mentioned exclusive option to 15 November 2021 has been agreed to facilitate the ongoing funding discussions for the initial 10% acquisition, however there can be no certainty that a suitable agreement will be reached with this or another third party or as to the terms of any such funding."

So your options should focus on the above i.e. Agreement or No Agreement. If the former then it may come with some negativity should this agreement require further delays to put in place.

If there is No Agreement then I can't see any option but to raise funds via a placing (So TOMco don't lose its deposits on the land purchase) as their partners never put their hands in their pockets as far as this project is concerned.

TOM should focus on getting this project started rather than being drawn into sidetracks and the subsequent delays. Next 10 days will be interesting. The lack of updates though from TOM since September are making your option 3 look more likely. I hope we are both wrong.

Suggest you keep to the advfn board then..

BFM - Glad to hear that someone is talking about TOM as opposed to the Petroteq parasites on this board.

My wag tail dog post went over most people's heads but it still applies. 10 days left for TOM to come clean as to weather they are the dog or someone's *****.

The potential is excellent so why can't they go it alone and get the funding to advance. Any more goal posts moving I am out.

We await..

@Vauch - Agreed!

PS - as pf yesterday's close MC is now 11MM GBP almost double what they started out with but at high share dilution.

15th July 2011 – TOM admitted to AIM with 1,310,895,954 shares @0.5p MC £6,554,479.77.
Due to several placings shares grew to 2,847,189,198 by September 2016.
In May 2017 there was a Share consolidation of 125.61 to 1. Below is number of shares along with the dates as stated in RNS’s.
20 Jul 2017 28,917,800 SP 5.625 MC 1.63MM GBP
12 Apr 2018 48,917,800 SP 3.15 MC 1.54MM GBP
16 Apr 2018 49,117,799
26 Jun 2018 62,117,799 SP 5.975 MC 3.71MM GBP
30 Oct 2018 63,294,270
5 Nov 2018 69,557,214
14 Dec 2018 97,057,214 SP 2.25 MC 2.18MM GBP
14 Jan 2019 95,794,270
20 Mar 2019 117,612,452
21 May 2019 119,142,452
15 Jul 2019 120,451,543 SP 6.2
14 Aug 2019 133,451,543
4 Dec 2019 275,759,235 SP 0.65
2 Jul 2020 650,759,235 SP 0.425 MC 2.76MM GBP
10 Jul 2020 669,134,225
28 Jul 2020 673,634,235
16 Nov 2020 1,451,412,012 SP 0.475 MC 6.89MM GBP
Don’t forget the outstanding warrants and the lump of shares Valkor are due for their 29%. You can use Yahoo finance history to get the SP of those dates and calc the MC. Following the share consolidation back in 2017 the ratio of number of shares issued now compared to 2017 is around 50 (1451/29). So we have big dilution which is not reflected in the current MC. My sympathy goes to the long termers here as there have been many failures along the way. Let's hope this one is a winner...finally.

Joe - please define your interpretation and meaning of "obvious". SP is currently nearing its doldrums at its normal 0.5-0.55.
I called (with my reasons btw) 0.9-1p which is almost double, yet you call me a de-ramper. You must therefore be the ramper of the universe, no?
The ramper without foundation - or basically a 100% idiot.

How about putting some meat on your one liners Joe - assuming that is you are capable?

@Vauch - Very much depends on what you call positive.
For me I would like to hear that the activities resulting in this delay have been completed and were successful and they have now required the funds to purchase 10% of the land. Anything less would be construed as negative in my opinion.
Secondly and assuming no negativity there has to be someone taking the lead here in developing the 5000 bbl/d project with a realistic schedule. A positive note on funding would also go a long way to help the SP.
As for my SP prediction? Well I am sure most people here have done the maths based on the production and sand rates, but until the plant is built or on its way to be built I cannot see anything beyond 1p. There are still outstanding warrants around 0.9p and there is still uncertainty as to share dilution in support any funding package.
I am sure the incumbents at Tomco, Valkor, and Petroteq know all of this but it would be good to see one of them take the lead FFS.

Whilst this is a Tomco forum, it's becoming more like the Petroteq club. I very much look forward to the TOM RNS around 15 November. Hopefully my question will be answered around then.???