Director Dealing

RNS Number : 4555C
TomCo Energy PLC
01 May 2012
 



1 May 2012

TomCo Energy Plc

("TomCo" or "the Company")

 

Director dealing

 

The Company was notified on 30 April 2012 that on 29 April 2012 Miikka Haromo, Finance Director, purchased for £1 a call option to acquire 15 million Ordinary Shares in the Company at a price of 3 pence per Ordinary Share from Kenglo One Limited. The option period commences on 21 July 2012 and ends on 31 December 2014.

 

Enquiries:


 

 

Sir Nicolas Bonsor, Chairman

Paul Rankine, Interim CEO

TomCo

020 7766 0078




Nomad and Broker



Alastair Stratton / Oliver Cardigan (Nomad)

James Black (Broker)

Numis Securities

0207 260 1000




Financial PR



Josh Royston/Richard Gotla

Newgate Threadneedle

020 7653 9855 

 

Notes to Editors:

TomCo Energy Plc owns oil shale leases covering approximately 3,000 acres in the Green River Shale Formation, Uinta County, Utah in 4 separate tracts. SRK Consultants Ltd has declared a surface mineable JORC compliant Indicated Resource of 123 million barrels on the main tract of TomCo's Holliday Block lease.

 

TomCo has entered into a Licence with Red Leaf Resources Inc (Red Leaf), which owns the EcoShaleTM In-Capsule Process (EcoShale), to use this unique and environmentally sensitive technology to extract oil from TomCo's leases. Red Leaf is planning a 9,500 bopd commercial operation at their Seep Ridge site, which lies about 15 miles SW of TomCo's Holliday Block lease.

 

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 9,500 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
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