Member Info for WongaFC

Interesting that Jason Miles in the QFI IMC discussion today said the 3 wells had been done and permits expected by end June. Tomco updates from outside sources again!!!

I was more impressed with the presentation then the q&a session as I felt he basically fudged the answers a bit.

Surprised to hear the end April commitment as opposed to end Q2/beginning Q3 normal can kicking. It gives me hope something is almost there. Won't be surprised though if in May we are told "signatures imminent" and the show rolls on...

I've been topping up here this month and will buy some more with my new tax year ISA allowance, prior to the proposed PQE takeover date. Hope it goes through this time and TOM could see a good uplift from buyer demand and hopefully more good news on progress.

GLA

It appears to be all systems go over at Tomco?

Perhaps they/Valkor/Vivakor/Sweet Heavy Oil or the like might become our first commercial partners. Could this be what Jason had "under wraps"???

Pardonnez moi.

Just hoped Mr Romero had popped in before signing the earth-shattering contract with QFI to process all their HFO into MSAR

I don't suppose you are Octavio Romero by any chance???

For me, the biggest takeaway from this "discussion" was confirmation of the recent (extend cash runway) remarks made by AM, being targeted focus on getting commercial revenue rather than further fund raises.

Still can't see where it's coming from at this stage. Hopefully the PQE offer goes through Mid-April, which with Tomco's progress could see a significant improvement in my "oil" holdings even without QFI performing..

FWIW, I had written off Morocco anyway. Utah oil sands is also some way away, although Tomco's proposed deeper well drilling could come on tap sooner, if we can get our fingers in that pie?? MSC will take as long as they want unfortunately, although Jason's hinting at possible trials bypassing EMA testing sounded positive. Or, was it more oxcrement??

The one I can't understand is Mexico. They already have a glut of HFO with associated storage issues. Now they plan to do all of their own refining, which will massively increase the HFO residues. MSAR is a great option to deal with this and could be a great earner for PEMEX. WTF are Redliner, (or whoever our agent is) doing??

I was expecting at least one bit of decent progress on one of the "projects" this year, if nothing else, to allow me to reduce my exposure here at a 4p+ price. It seems even that may now be a pipedream???

Embarrassing maybe, but at least he'll still have his £30k+ monthly salary to ease the discomfort, while we LTSH watch our investment (and wealth) drift down to new lows.

The fact the BoD have so few shares in the company tells you all you need to know about their belief in the products, despite the 9.5/10 rhetoric.

I'm already over-committed here and certainly will not participate in any further fund raise. In fact, my attitude is quite the reverse, i.e. I'm looking to reduce my exposure if we ever see another day where the SP climbs to the heady heights of 5p+

I'm giving them until the end of 2022, then as far as I'm concerned if we're still without a commercial contract or huge trial well underway, I will write off losses here.

I watched the video again and to be fair he talked about extending the runway, however my understanding was, he also indicated the plan to streamline the business via fewer projects/developments, to concentrate on getting one to commercial success??

Perhaps this is what he meant by extending the cash runway, not a fund raise, but spend less on peripheral stuff and concentrate on getting something over the line? Of course all the Directors could offer to work for nothing until commercial revenues are in place, that would extend the runway somewhat.....

I remember prior to the AGM 2 years ago suggesting the BoD take a 50% salary deferment, with deferred pay being remitted to them when and only when the company is running profitably. I was shot down on here but perhaps Mike, Jason and their fellow gravy train travellers might have had a bit more urgency in getting a contract over the line.

As things stand, there is very little short-term incentive for them to take the company to profitability as they continue to be over-paid under-achievers, with continued lack of progress over many years.

Maybe just reflective of my negative lack of confidence in the company now but I was unimpressed by anything in the interview. Just corporate oxcrement for me. It appeared he was reading from notes in front of him but more of a concern was his "preference" for looking down to his right rather than at the camera. Not a body language expert but I believe the term "down right liar" derives from this trait.

His numerous references to extending the cash runway smacked more of trough replenishment than providing a good case for important progress investment. Absolutely nothing new in it for me and were the SP not in such a pathetic state, I would be reducing my holding.

But as I said, that could just be my "mood"????

https://www.independent.co.uk/news/world/americas/porsche-cargo-ship-fire-vw-atlantic-b2017726.html

I wonder if the fuel source was to blame?? If so costly error and should have used MSAR

That Morningstar link suggests Premier Miton now have approx 114m shares. From memory their initial buy in was £3m @ 2.7p effectively 111m shares, so if anything they have been buying more??

Yes BP, he could ask the "trial partners" to throw him a bone to keep the shareholders happy. Silence, or regurgitating the benefits of the fuels is not going to cut it...

Can see now why MK left the building when he did. I would normally see this as a great buying opportunity but like Monkeymo, I also now have serious doubts about ever selling anything. Doubt there will be any other IIs being conned so easily in future.

Not strange when you consider every week that passes is a week closer to running out of money and despite over a decade of product development, (or science experiments!!) we still have no customers. In fact, we do not even have a product to sell.

We have a concept fuel trumpeted as environmentally friendly, yet despite an unprecedented global clamour, from all sorts of industries, to improve their green credentials, we remain without a commercial contract to supply anything.

That's why the SP is tanking!!!!

Your PQE profits might be better invested in Tomco who at least are moving projects forward at pace and appear to have Valkor at their back.

Just waiting on the huge news from Mexico being "unwrapped". No hurry though, I haven't got my Petroteq sale proceeds yet.....

Fwiw, I believe Tomco will be bought out before getting to the production stage.

The potential profits to be made from the oil sands absolutely dwarf the current market capital. Securing the funding would take a huge amount of the "risk discount" away and the SP could double or treble quite quickly thereafter. I know from Petroteq chat rooms, there could be a lot of interest/buying from those potential profits in the near future. Getting the remainder of the TSH leases purchased should be a priority from the deeper oil proceeds and the recent news re refinery tenant would become overnight income.