The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Hi D220
I understand the proven aspect, however had the RNS stated "First Oil Recovered", it would probably have had a hugely different effect on the SP. Surely they need to produce a certain amount of oil to be able to calculate how much they can recover in relation to cost.
The lack of a start date is somewhat disappointing as well.
As for your share holding, good luck to you on whatever the size of your holding is, I hope it all works out well and we all make a healthy profit.
The update was needed, my initial reading of it didn’t leave me with anticipation of a huge rise.
Having reflected on the contents my thoughts are:
How much of an issue is the water?
The RNS states the equipment was tested and calibrated, what happened?
Did they test it to the point of achieving any oil? Even just a glass full, and if not, why not?
It certainly hasn’t created a flood of buys or sells.
Time will tell, but it hasn’t filled me with confidence.
For those telling us they have a shareholding in excess of 1 million shares, £75,000 ish at current value, you must have a strong appetite for risk, and a few sleepless nights.
Sorry but i don't understand your logic at all, the current SP is 7.5p to sell.
If they achieve a quarter of what they are trying to do, raising money will be much easier, some might even be throwing it at Tomco.
Tomco aren't helping here either, absolutely no official progress update - not good and their website is dreadful.
Should the test fail (hopefully it won't), it will probably be the last we hear of them, so until results are known they shouldn't need any more money.
Interesting today, approximately 1 million shares bought, and 200,000 sold.
Have we seen the end of the dilution shares? Let’s hope so!
If the ADVFN site is to be believed, their posters and the major shareholders listed on the Tomco website own around 50% of the 62 million shares in circulation.
The next 4 weeks field test is going to be very interesting, and hopefully exciting.
RF technology seems to be the in thing, and Tomco are right in the shop window.
I’m expecting a big increase in the SP next week, and if the tests are a commercial success what will the share price be? Time will tell.
There can’t be many left to sell.
A well timed detailed and positive update will see this move up quickly.
It’s time to remind the world of what’s going on here.
With a bit of good news and publicity it will be interesting to see what happens here.
Once the seller clears off, how many shares will be available to buy?
Prior to the 13 million placing they appeared to be in short supply, as the SP was going up quickly.
20% (13 million) are with major significant holders according to website, as of 8th September.
Interesting!!
If the mm's bought the remaining placing shares from whoever it is selling them at around 5.3p, they could quickly raise the price to 6p, and off we would go. Just a thought!
Anyone think the shares on offer at 5.12p are the remaining placing shares from late June, when 13 million were issued? There are just 62 million shares in issue now.
A proper detailed update outlining the potential of the field test would be good, similar to the Rns issued on 9th April, as most people will be unaware of what is going on in Utah.
i still expect a big surge in the SP prior to the results of the field test around the end of October, time will tell.
To get any further money, my thoughts are that stage 1 needs to be completed.
I thought this should have been done by February, but happy to be corrected.
So, how long until stage 1 is signed off?
An update is urgently required here.
As August approaches buyers will start to return, get the SP over 6.75p and lets see what happens.
A well timed Rns on the reserves update might do the trick.
I have no idea what the SP will be once the pumps arrive, but it will most certainly be a lot higher than the current price.
Unbelievable
What are you expecting?
We know the drilling is due in August
The pumps are due in September.
Results expected 4-6 weeks after.
This is a 3 month hold for investors with patience .
If it is successful the shares have potential to be worth a lot of money.
Buyers will return, but they are looking good value at under 8p to buy.
The persistent seller / sellers are stopping this going anywhere at the moment.
Last Tuesday people paid in excess of 10p, so a week of consolidation and a few profit takers. Steady buying now and few sells. Difficult to see any reason for a drop in price prior to results in Sept/Oct, investors just need the patience to keep hold for 4 months. One poster on ADVFN was intimating he would buy half a million today (1% of the total shares in issue), will be interesting to see if he does. The SP will move up very quickly on any decent levels of buying as availability of shares must be somewhat limited.
Whoever is feeding the market should run out of shares soon. Approximately 5.7 million shares traded today, and probably well in excess of 60% buys. I am assuming the seller/sellers are the takers of the 20 million shares issued a few weeks ago, there are less than 50 million in issue. There are some big holders, as disclosed in recent RNS,s, and I expect we will get a few more holding notices soon. The potential remains massive, time will tell, but if they produce the goods then this will be huge.
It will be interesting to see what happens to the share price when the supply of recently issued shares dries up. I think the vast majority have been absorbed into the market, therefore supply will dry up quickly. Lots of purchases in the �1,000 region over the last few weeks, and some big holders notified in the Rns's. Should TOM achieve the goal, the value of the shares will be many many times the current SP, there are under 50 million issued!
Panoro state on page 9 that their share in 2017 was 113,000 barrels, approx 300 per day. From that information you should be able to work out MXO,s share quite easily.
Perhaps confirmation of the lease being renewed will help, it expires in June 2018 (according to Panoro report). They need to be allowed to get it out of the ground for it to realise any value. The Panoro report states that they commenced the application in 2017.
Have a look on Companies House, �546,000 reported last year for directors salaries.