TomCo Energy PLC POSP Restart (6877K)
January 06 2021 - 2:00AM
UK Regulatory
TIDMTOM
RNS Number : 6877K
TomCo Energy PLC
06 January 2021
6 January 2021
TOMCO ENERGY PLC
("TomCo" or the "Company")
POSP Restart
TomCo Energy plc (AIM: TOM), the US operating oil development
group focused on using innovative technology to unlock
unconventional hydrocarbon resources, is pleased to provide a
further update in respect of Greenfield Energy LLC ("Greenfield"),
the Company's 50/50 joint venture with Valkor LLC ("Valkor"), and
the work being undertaken by Greenfield with respect to Petroteq
Energy Inc's ("Petroteq") existing oil sands plant at Asphalt
Ridge, Utah (the "POSP").
As announced on 18 December 2020, the planned restart of the
POSP suffered an interruption due to Covid-19 related restrictions
placed on the mining permitting authority. As a result, Greenfield
decided to delay the restart of the POSP until 4 January 2021 to
enable an efficient start up. The Company is pleased to confirm
that the mining programme started on 4 January 2021 as planned and
that the ore will start to be processed through the POSP by the end
of this week.
It is planned that production at the POSP will be ramped-up
during January and February 2021. All other elements of the project
remain as previously announced and the Company looks forward to
providing further updates as matters progress.
Commenting, John Potter, CEO of TomCo, said : "We are very
pleased that the restart of operations at the POSP commenced,
enabling us to move towards the planned test work and third-party
engineering analysis. We look forward to reporting on our progress
in the coming weeks."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
Enquiries:
TomCo Energy plc
Malcolm Groat (Chairman) / John Potter (CEO) +44 (0)20 3823 3635
Strand Hanson Limited (Nominated Adviser)
James Harris / Matthew Chandler / Jack Botros +44 (0)20 7409 3494
Novum Securities Limited (Broker)
Charlie Brook-Partridge +44 (0)20 7399 9402
IFC Advisory Limited (Financial PR)
Tim Metcalfe / Graham Herring +44 (0)20 3934 6630
For further information, please visit www.tomcoenergy.com .
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCUPUPPGUPGPUA
(END) Dow Jones Newswires
January 06, 2021 02:00 ET (07:00 GMT)
Tomco Energy (LSE:TOM)
Historical Stock Chart
From May 2024 to Jun 2024
Tomco Energy (LSE:TOM)
Historical Stock Chart
From Jun 2023 to Jun 2024