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Valkor are Tomco's saviour. The placing price is a shame but it will come good now. Like here, money will start to come in from oil. It is a game changer for Tom and QFI.

Great that the sp may start to move up now too which means any further conversions should be at a higher sp. Cant be many fo the last conversion left to shift as there has been over 63m shares traded since then.

if each time they convert the price is higher then fine, the cash is saved by the company which is good. Wont be long befroe they are over 5p again. There are only so many to convert. When the news of the MSAR money rolling in from Utah it will be a nice old ride.

the plan is for a 10,000 bopd plant within 12 months. Big money here for QFI, plus they plant to repeat, repeat, repeat. There are billions of barrels in Utah oil sands.

Rns out on Tom, cash raised, off we go !

the ceo explanation on the conversions is clearly nonsense, the market is dragging this down on a daily basis ready for the next £250k conversions. Disgraceful

All we need is Tom to raise the finance and get the current plant running at 500bopd with MSAR and the sp here will race.

I think the finance is almost in place so some pretty exciting announcements to come soon imo.

Interesting moves this morning, big spread but is that the conversion cleared?

they had it last week but the placing got pulled as the wording about the licence was incorrect. I would imagine in the next week or so it will be sorted.

Definately no big wait. I expect max 2 weeks.

As soon as tomco get their $1.5m funding it all kicks off ! 10,000 bopd plant!

Under the JV Agreement, Valkor has granted a licence to Greenfield, for the use on all future plants that are majority owned and operated by Greenfield in Utah, to its existing Intellectual Property ("IP") and knowhow for the processing of oil sands into heavy fuel oil. All modifications and improvements to the IP developed by Greenfield, including in relation to the upgrade of the POSP, will belong to Greenfield, which the Board of TomCo believes will allow Greenfield to develop its own oil sands plant, subject, inter alia, to identifying a suitable location. Greenfield will seek to identify and secure suitable locations in Utah for a commercial scale (up to 10,000 barrels of oil per day ("bopd") ) oil sands plant.

A few million more shifted today. Just a bit of good news now Mike please before they want to convert more, lets have the SP over 3p first.

Valkor and Tomco (Greenfield Energy JV) take over the Petroteq plant in 2 days. They will then incorporate the Quadrise system into it and start producing oil. They will then bring the plant up to an initial rate of 500 bopd and then up to 4,000.

They are also planning a 10,000 bopd plant within 12 months. Imagine the royalties to QFI just of these 2 projects.

good, there is another 2.5m to go but like mike said they want a steady increase too. so the price is higher. Nice, when this is cleared we will rise properly.

yes, looks like they are moving them at 1.7 ish. Great news.

Folks, look the sp had to get to almost 3p for them to do this conversion. If the sp trades at this level for a while they will need the sp up at 5p before the next conversion

looks to me like Mike Kirk has had a word with Bergen, if the trash the sp he wont do the second tranche. Therefore they wont sell lower than 1.7/1.8 imo. The the next conversion will likely be at that price and the sp will move up to the next level.

Of course that does not take into account likely news which will also lift the SP.

A good chance to buy at this level at present.

yes, its obvious from the march sp action that they will manipulate the sp down to get the conversion price low, then sell on good news. Crap way of financing the company imo.

I have read the 23rd August convertible note details and basically the can convert at either (a) the average of five daily volume weighted average prices of the Ordinary Shares, during a specified period before the conversion date, rounded down to the next 1/10th of a penny, or

(b) 140% of the average of the daily VWAPs for the 20 trading days immediately prior to the execution date of the Agreement, being 5.78 pence per Ordinary Share ("Conversion Price B"). The Investor may only utilize Conversion Price B for Convertible Securities with a par value of no more than £800,000.

They are obviously going to choose A, but what we dont know is the part that says " the average of five daily volume weighted average prices of the Ordinary Shares, during a specified period before the conversion date"

What is the 'specific period' how come they managed the last one at 1.1p? It must be that they used the 5 day average from June 8th maybe?

The good news is if the price stays here or higher the next conversion will be much higher and so the sp will react higher imo. Its just another example of the price being kept low for the boys to get their hands in the till. It will be beck over 5p when they have had their bit.

Hi Everyone just wanted opinions on a scenario that has arisen and who is at fault. No names. Please give you opinion.

Company A announced a share placing to raise £1m. The broker invited a shareholder to take part. The shareholder agreed. The shareholder was not a client of the broker so the trade was done through the shareholders online broker.

No placing docs or order was seen or signed by the shareholder. it was signe on the shareholders behalf by his online broker.

Lets say the trade is done on 10th May and the settlement date the 15th May. However the payment was deducted from the Shareholders account and the shares delivered to the shareholder both on the 10th May.

On the 15th May the placing was cancelled. The placing shares were not issued.

According to the London Stock Exchange the shares issuedto the shareholder onthe 10th May could not have been placing shares as they were not issued yet. So it is possible they were forward sold by broker who expected to get them back on the 15th May when placing shares were issued.

Broker wants the shares back, shareholder does not want to give them back.

Who is right ?

With Valkor and Tomco they are using the system to reduce the viscosity of the oil by creating an oil in water emulsion.

only 2 mms left on 3p now.