Member Info for WongaFC

They might have waited until after the PQE sale/payout, when I woul dhave had more funds to throw their way

Yes, my initial thoughts were Mexico as well, especially as it were omitted from the project updates in last interview.

Let's hope so as it would be the huge positive news the company and sp needs.

Given today's Tomco RNS/News, could a contract with Heavy Sweet Oil, (Steve Byle/Valkor) be the "under wraps" item Jason referred to in his latest interview???

Wonder how our IIs are feeling now???

I see this as positive news. We know Tomco are potless hence the need for Valkor to come good for the 10% TSH purchase.
The fact they can raise this new capital, some of which was always going to be needed to carry out the exploratory wells bodes well for the future. The funding of the remaining TSH purchase and construction of the first 5,000 bpd plant is almost certainly dependent on the success of finding the deeper lying oil reserves. This new capital will hopefully allow them to confirm the value of these reserves which should in turn make financing of the oil sands project much easier to achieve.

Could it be the proverbial lull before the storm?

Come on Jason, spill those Mexican beans...

Thanks to Vauch on Tomco site; could this be a nice little "close to home" client for MSAR/BioMSAR???

https://www.proactiveinvestors.co.uk/companies/news/971554/union-jack-oil-and-europa-boosted-as-erce-says-much-higher-rates-are-possible-at-wressle-971554.html

Looks like someone loading up @ 2.20, lucky blighter...

By mid year 2020, Pemex already had huge issues with surplus HSFO due to Covid and IMO regulations. They now plan to refine all of their own oil vastly reducing exports of crude and imports of diesel and have recently agreed to buy out Shell's 50% of a large refinery in Texas, for the sum of $600,000,000. I wonder what Shell will do with that?? (Viston?).

This strategy is going to result in even greater HFO residues. I wonder what they will do with this byproduct of diesel production. If only there was a way to turn it into a greener fuel.....??

Imminent "under-wraps" news???

Fwiw, I believe there is "behind the scenes" upward pressure on the SP, with the listed Bid price being falsely manipulated down.

For three consecutive days last week, every trade was between 2.40 and 2.75 but the Bid was consistently listed at 2.20. Then low and behold a, (what I like to call) dummy anchoring trade goes through for £5'ish @ 2.20.

Same thing today. All trades between 2.40 and 2.75 then the dummy anchor trade for £2.26 although this time the anchor is lifted (reluctantly??) to 2.35.

I realise the SP is what it is when you buy and sell, often nowhere near the B/O prices listed here but I cannot understand why the realistic B/O prices are not shown, rather than the outlying figures they use.

Looks like a lot of bailing out this morning, probably in the expectancy of SP drifting back down to 0.50p. However, could be a dangerous time to be "out" as a good positive RNS on deeper oil resources could see the SP move north quite rapidly???

Bit harsh on old Boris there.

With no (rugby no 2's) and no devil's dandruff, how was he supposed to know it was a party??

Maybe listed as 4 sells but we know that can be nonsense. Reads like 2 buys @ 2.58p and 2 sells @ 2.40p, which is more realistic than the 2.31 - 2.75 spread listed here???

Whether or not we make it to the promised land this year is anybody's guess. However, I do expect a significant step forward in at least one of the projects in H1 this year. This I'm sure will be followed by another upward trend in the SP, 6p+ again, so today's price looks a real bargain even for short-term'ers. Continued SP rises to double figures is entirely possible thereafter but history suggests the 6p+ may be yet another spike along the way???

The $120m or so required to buy remainder of TSH land rights and construct 1 x 5,000bpd plant is not going to be raised on oil sands reserves figures. The game changer will be either the deeper oil reserves quantum and off-take agreements or, the big player behind the Viston bid for PQE eyes up Tomco while the M'Cap remains so low.

Carbon capture was certainly mooted as another potential income source although likely to be via the production wells rather than the three testing ones planned.

I don't think so gr1bbler. It reads to me as an independent valuation of the oil sands at TSH, puting valuations on both the extracted oil and sand by product.

"No need for fund raising for the time being" - Agreed

"publicity also doesn't necessarily increase the share price and it's expensive" - Agreed, can be.

But I never said there was a need for fund raising or expenditure on publicity. My whole point was around the constant "nonsense" B/O spread on this share and how this could put off potential investors. I am more likely to buy £20k worth of a company's shares if the value after clicking the buy button is £19,500, rather than £15,000. I'm sure I'm not alone in this thinking???

"they already said they dont need to raise any further funds for next two years."

and that was said 6+ months ago. I believe on current spending the cash will run out mid 2023 by when they hope to be income producing, (commercial). Similar statements have been said many times and guess what? they needed further funding thereafter.

It could also be a need for further capital expenditure to build additional MMUs or other production infrastructure. There could be many future spending requirements not already known but the bottom line is, the higher the SP and m'cap the better position the company will be in.