Last checked at 12 Mar 2013 11:27
12 March 2013
TomCo Energy Plc
("TomCo" or "the Company")
Holding(s) in Company
TomCo Energy PLC (AIM: TOM), the oil shale exploration and development company focused on using innovative technology to unlock unconventional hydrocarbon resources, was notified on 11 March 2013, that as a result of the Company's recent fundraising announced on 7 March 2013, Kenglo One Limited's interest in the Company has fallen to 26.4%.
Enquiries:
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TomCo Energy PLC | |
Paul Rankine, CEO | +44 20 7766 0070 |
Numis Securities Limited | |
Nomad and Joint Broker | |
Alastair Stratton / Oliver Cardigan (Nomad) James Black (Broker) | +44 20 7260 1000 |
Fox-Davies Capital Limited Joint Broker Daniel Fox-Davies, Richard Hail
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+44 20 3463 5000 |
Tavistock Communications | |
Financial PR & IR | |
Ed Portman/Conrad Harrington/Jos Simson | +44 20 7920 3150 |
Notes to Editors:
TomCo Energy PLC (AIM: TOM)is a London based, AIM-listed company, with substantial Oil Shale assets in Utah, USA.
TomCo holds a 100% interest in two Oil Shale leases, comprising 5 blocks covering 2,919 acres in Uintah County, Utah. Independent natural resources consultants SRK Consultants Ltd, part of the internationally recognised SRK Group, has declared a surface mineable JORC compliant Measured Resource of 126 million barrels on the main tract of TomCo's Holliday Block lease.
The Company has entered into a licence agreement with Red Leaf Resources Inc ("Red Leaf") for the use of their EcoShale™ In-Capsule Process, a proven and environmentally sensitive technology, to extract Oil from TomCo's leases.
Additionally, Red Leaf is planning a 9,800 bopd commercial operation at their Seep Ridge site, which lies about 15 miles SW of TomCo's Holliday Block lease.
Led by a highly experienced management team, TomCo's strategy is to develop the Holliday Block lease as a similar follow-on project to Seep Ridge using the EcoShale™ In-Capsule Process, with the same targeted production of 9,800 bopd.
Glossary:
bopd: barrels of oil per day