TomCo Energy PLC Stmnt re Share Price Movement (2949Z)
March 05 2013 - 10:27AM
UK Regulatory
TIDMTOM
RNS Number : 2949Z
TomCo Energy PLC
05 March 2013
05 March 2013
TomCo Energy Plc
("TomCo" or the "Company")
Statement re: Share Price
TomCo Energy Limited (AIM: TOM), the oil shale exploration and
development company focused on using innovative technology to
unlock unconventional hydrocarbon resources, notes the movement in
its share price and confirms that it is undertaking an equity
issuance in excess of GBP1m at a discount to yesterday's closing
price consistent with market transactions of this nature. Verbal
commitments have been received from a number of institutions for
this amount and documentation is being finalised.
The Company will make a further announcement as and when
appropriate.
Enquiries:
TomCo Energy Limited
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 +44 20 3463 5000
Tavistock Communications
Financial PR & IR
Ed Portman/Conrad Harrington/Jos Simson +44 20 7920 3150
Notes to Editors:
TomCo Energy Limited (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(TM)
In-Capsule Process ("EcoShale"), a proven and environmentally
sensitive technology, to extract Oil from TomCo's leases.
Additional, 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.
Lead 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(TM) In-Capsule Process,
with the same targeted production of 9,800 bopd.
Glossary:
bopd: barrels of oil per day
JORC Code: The mineral resource classification code devised by
the Australasian Joint Ore Reserves Committee
This information is provided by RNS
The company news service from the London Stock Exchange
END
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