TMK - TMK Energy

[System]

Tamaska Oil and Gas Limited (TMK) was formerly known as Kilgore Oil and Gas Limited (KOG).

Previous discussion of this company can be found in the KOG thread: https://www.aussiestockforums.com/forums/showthread.php?t=11217

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[springhill]

What a ludicrous capital structure!

MC - $6.4m
SP - 0.1c
Shares - 6.4b
Options - 3.2b
Cash - $1.5m

· Increasing exploration activity from majors on Duvernay Shale play in Alberta Canada.
· Recent exploration discoveries highlight significant economic potential of Duvernay, with a high liquid content.
· Tamaska retains an 8% interest in 103 sections of the Duvernay Shale and 111 sections Rock Creek lands (TMK 16%).
· West Klondike Exploration project expected to commence in September 2012.

Duvernay Shale Update
Black Swan Energy Ltd, Tamaska’s key project partner and operator on its southern acreage holding in the highly prospective Duvernay Shale in Alberta Canada, are preparing to start drilling the initial earn-in well during the December Quarter following completion of permitting for a vertical Duvernay well.
Drilling activity on the Duvernay trend has increased significantly in recent months and the results of completed wells by large operators in this emerging play are also becoming more readily available. Importantly for Tamaska, results three recent wells in the Duvernay Shale have produced substantial amounts of liquids in the range of 70-300 bbl/mmcf.
Tamaska’s neighbour Talisman Energy has also commenced drilling in an adjacent section and licenced areas for further drilling just to the south of Tamaska’s land.

Duvernay and Rock Creek Acreage Holding
In January 2012 the Company announced that it had completed 2 acreage sale transactions in the strategic Duvernay Shale play in Alberta. The Company’s net proceeds after costs from the 2 sales was approximately $1.9m.
Following completion of these acreage sales, the Company as part of the Alberta Joint Venture (AJV) acquired an interest in a further 4.5 sections (2,880 acres; 1,152 hectares) of land prospective for Duvernay shale and Rock Creek rights at a Crown land sale. These lands adjoin the existing land holdings of the project area which was created following the first acreage sale and were acquired at a fraction of the value achieved from the sale transactions as they were only strategic as infill acres for the AJV.

West Klondike
The West Klondike exploration prospect is now expected to be spudded in September 2012 following the completion of access rights and commencement of location works by the Operator. The Company is earning a 10.2% working interest in the project through paying 13.5% of the initial well and leasing costs.
The West Klondike Prospect is a fault block closure which has been identified on 3D seismic data and is in close proximity to analogous offset production. The likely resource potential is 2 million barrels of oil (mmbbl) and 6 billion cubic feet of gas (bcf), with unrisked potential of 4.8 mmbbl and 17 bcf of gas. The Company’s 13.5% share of the initial well’s dry hole costs is estimated to be $350,000.

 

[jjtrader]

Tamaska

Hi there, anyone know what is happening with tamaska oil and gas or what is likely to happen. The director just resigned and it appears to have deleted itself off of my watch list on the asx website. Does this mean what I think it means.

 

[springhill]

Re: Tamaska

Hi there, anyone know what is happening with tamaska oil and gas or what is likely to happen. The director just resigned and it appears to have deleted itself off of my watch list on the asx website. Does this mean what I think it means.

There is a 100:1 consolidation occuring, currently trading as TMKDA.

 

[jjtrader]

Re: Tamaska

There is a 100:1 consolidation occuring, currently trading as TMKDA.

What does that mean?

 

[springhill]

Re: Tamaska

What does that mean?

They are restructuring the company.

For every 100 shares that you own now, after the period of consolidation you will own then own 1 share. Eg, if you previously owned 1000 shares, you will now own 10.

In theory the share price should rise 100 fold, however in practical terms this rarely happens. Eg, If the pre-consolidation share price was $1, all things being equal that share should now be worth $100.
It rarely happens that way.

Consolidations will usually include a capital raising. This is usually in the form of new shares to;
a) existing shareholders
b) sophisticated investors/institutions
c) a combination of the above
This capital raising will be at a pre-determined rate of new shares to the number of shares that you will hold post consolidation.
It could be 1 new share for every 1 existing (or 1:1), it could be 2:1, 3:1 etc etc

Sometimes these come with an attaching option as an incentive for you to invest in the new shares. Eg, 1 option for every 2 new shares that you purchase (the options will not apply to your old holdings - when issued these are known as loyalty options)

The capital raising is nearly always below the existing share price, unless the company is showing remarkable prospects for growth in the future.

Consolidation often occurs when old management is booted out and new management takes over. It may come with a change of direction in the activities of the company. The new management may have a new project they have an eye on and are looking for a vessel to take this on. You may see large movements in the shareholder registry.
In any case TMK will be undergoing changes.

Simplified, you may have to reassess whether you are willing to invest more money into this company.

The best thing that can occur short term is that you will have less shares with a total value which is equal to the value pre-suspension.

Don't count on it.

This is the kind of restructuring in which I look to take advantage, it sometimes results in a company with a tight registry, low liquidity, new management (their credentials are important), small volume of total shares, cash in the bank to fund a couple of years of exploration and actively looking at acquiring new projects.
When all these things line up, add a margin of luck and it can prove to be quite lucrative.

 

[jjtrader]

Re: Tamaska

This is very confusing to me. Does this mean they are in some kind of a halt? Why are they trading as TMKDA? Last week i held x amount of shares worth x value, now I dont even know what I hold anymore and what it is worth. Is this a good thing or a bad thing? Will there be an end to this period when they go back to TMK and trade as normal? thank you for the post explaining what and why they consolidate. Im just very interested to find out what this is likely to mean for my holding.

 

[springhill]

Re: Tamaska

This is very confusing to me. Does this mean they are in some kind of a halt? Why are they trading as TMKDA? Last week i held x amount of shares worth x value, now I dont even know what I hold anymore and what it is worth. Is this a good thing or a bad thing? Will there be an end to this period when they go back to TMK and trade as normal? thank you for the post explaining what and why they consolidate. Im just very interested to find out what this is likely to mean for my holding.

TMK are still trading, they are not in a trading halt. They are just trading as TMKDA

Any 3 letter code trading with 'DA' on the end is indicating to the market an upcoming share split or consolidation.

You do know what you hold in terms of share volume both before and after the consolidation.

The good or bad aspect depends on if the value of your share holding has risen or fallen after the consolidation. Rise = good, fall = bad.

There will be an end and they will go back to trading as TMK, unless the company changes name at which point the code will nearly certainly change.
Don't stress the company will keep you abreast of any of these kinds of changes.
There will also be a timeline of activities during the consolidation, the company should go into suspension so consider the fact that your money will be tied up and irretrievable whilst this is in place.

Try not to stress out, these things happen all the time. After you come out the other side of it you will wonder what all the fuss was about.

What you need to consider now is, is this company still a good investment?

 

[System]

On February 24th, 2022, Tamaska Oil and Gas Ltd changed its name to TMK Energy Limited.

 

[noirua]

TMK Energy (ASX:TMK) reports high gas saturation and permeability at Gurvantes XXXV, Mongolia

TMK Energy (ASX:TMK) and Talon Energy (ASX:TPD) have confirmed high gas saturation and permeability from a five-well exploration program at the Gurvantes XXXV CSG project in the South Gobi Basin of Mongolia.

themarketherald.com.au

TMK Energy (TMK) and Talon Energy (TPD) have confirmed high gas saturation and permeability from a five-well exploration program at the Gurvantes XXXV CSG project in the South Gobi Basin of Mongolia.

Talon is earning a 33 per cent working interest in the project under a two-stage farm-out agreement.