I'm really surprised that the strong move upward last week has not attracted more (any?) interest here. The move upwards seems to be continuing today - surely this must be on some "radars" by now?
News due very soon from BOD visit to Utah ....
And how about this?
Reasons for the recent rise:
Management are in/have been in Utah planning the field test and we can expect an update following this.
Oil price has been above $80pb for ths first time since 2014 and expecation is that it will go higher.
The recent AGM seems to have been convincing for attendees and there is a "vibe" that this time management will deliver something tangible.
There are also (apparently) rampety rumours on Twitter that a Major might be sniffing around TOM.....! Take this one with a pinch of salt IMO
Where have they all gone? It looks like this is ready to move up so I think we can assume the seller is pretty much done. As we approach the field test, I would be surprised if we dont get into double figures.
There! How about that for ramping?! :D
Holding this share feels ver much like the Monty Python sketch with the knight having a sword fight and his opponent chops of the knights hand. You think that's it, he is defeated but the knight shouts out its only a flesh wound and continues to fight on.
His opponent then starts to chop of the knights limbs and the knight still wants to fight on, taunting his aggressor still insisting it is only minor injuries!
That's how it feels to be a Tomco shareholder....I think we have chopped down to just the head remaining but we are still hoping for a good outcome!
It is has been one very long and painful slide to oblivion with no good news......ever!
Despite the partial recovery in oil price we have been almost completely wiped out ......once again!
Of course not forgetting the poor sods who were wiped out during the last consolidation!
Yes he has been a disaster! I would have hoped that with the recovery in the oil price, we might have seen some signs that this is anything other than a basket case.
A case of 'file and forget' here I think....
So the chief executive had decided he wants to move on after presiding over a calamitous, turbulent and very disappointing period in the Tomco story.
He departs giving the company a loan of £100k but is charging interest at 8%
Well he must be one of the very few people who are going to make some money from an investment in Tomco!
Shame nobody else has been so lucky in their investment with this company. Let's hope the next Chief Executive does a better job for the long suffering shareholders, who have lost in excess of 90% or have been diluted out of their investment.
The consolidation was supposed to support the share price and add value for the holders who were left.....we are rapidly approaching the pre consolidation share price!
"An objective of the Consolidation and Sub-division is to create a shareholder base and share price that is more in keeping with the size and nature of the Company. An integral part of the Consolidation will be that it will reduce the number of shares in issue and the Board believes that will benefit the Company and Shareholders as a whole. The market price of a New Ordinary Share immediately after completion of the Consolidation and Sub-division is expected to be approximately 125 times greater than the market price of an Existing Ordinary Share. The Board believes resizing the Company's issued share value may also encourage greater liquidity and may result in smaller share dealing buy-sell spreads."
Hey, I'm a bit lost in the whole share game. I thought I held 2000 shares in TomCo but have just logged in to registrars portal to find it is no longer listed in my portfolio (It was last time I looked). I can add TomCo in manually so it's the same registrars, but I am guessing something has happened to my holding before they have disappeared from the portfolio? Just confused as to why it doesn't just give any consolidation info on the portfolio? I'm not very good at following all the paperwork that comes in, so have probably missed something important? Anyone know what my position might be with these shares?
The downward trajectory continues at between 5&6% per day since the consolidation. I guess you could extrapolate the the graph to see when we arrive back to a tenth of a penny.......My gosh holding this share certainly makes for a depressing experience!
Dont panic when you see that your shareholding is much reduced tomorrow morning! Consolidation takes effect from 8.00 Monday.
The mechanics of the consolidation are all very well. What I am interested in is will it do anything to transform the prospects for SP growth? Will Tomco be seen as less of a (not even) penny share? I would certainly like to think that this is the start of a fight back and that Management are now refocussed on what we all invested in - oil shale.
Let's see what happens tomorrow and whether the momentum from last week continues....
Surprised no one has posted today give significance of the update. Looks as if TurboShale might get off the ground, although theuy have not as yet raised funding. This looks to me as if they already know where the money is coming from though:
"TurboShale is seeking to raise up to US$1.5 million by way of a private placement, the net proceeds of which shall be applied to its laboratory testing programmes, further patent applications and to general working capital."
The other good news is that Red Leaf are not quite dead in the water:
"Red Leaf Resources Inc. .... has reached a settlement agreement with Total E&P USA Oil Shale, LLC. The settlement releases both parties from any obligations related to the RedLeaf's Seep Ridge site, and whilst the details of the settlement have not been disclosed, TomCo understands RedLeaf has in excess of US$100 million in available cash and no debt and that it intends to continue to pursue its business plan of commercialising the EcoShale Process."
So, Red Leaf now have funds to continue without Total which can only be good for Tomco.
This might bactually go somewhere yet....!
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