Result of AGM

RNS Number : 4204F

TomCo Energy PLC

24 April 2014

 



24 April 2014

TomCo Energy plc

("TomCo" or "the Company")

Result of Annual General Meeting

TomCo Energy plc (AIM: TOM), the oil shale exploration and development company focused on using innovative technology to unlock unconventional hydrocarbon resources, is pleased to announce that all resolutions put to shareholders at the Company's Annual General Meeting held today were duly passed.

Enquiries:

For further information, please visit www.tomcoenergy.uk.comor contact:

TomCo Energy plc
Paul Rankine, CEO/Miikka Haromo, CFO	Tel: [phone]
Fox-Davies Capital Ltd (Nomad & Broker)
Simon Leathers/Jonathan Evans	Tel: [phone]
Tavistock Communications (Financial PR &IR) Ed Portman/Conrad Harrington/Jos Simson	Tel: [phone]

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

JORC Code: The mineral resource classification code devised by the Australasian Joint Ore Reserves Committee

 

END

 

 

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