RNS Number : 7960V TomCo Energy PLC
18 January 2012
18 January 2012 TomCo Energy Plc ("TomCo" or "the Company") Exercise of WarrantsThe Company announces that, following the exercise of warrants, application has been made for the admission of 17,000,000 ordinary shares of 0.5p each in the Company ("New Ordinary Shares") to be admitted to trading on AIM. The New Ordinary Shares will rank pari passu with the existing ordinary shares and it is expected that admission will occur at 8.00 a.m. on the 24th January 2012. The proceeds from the warrant exercise are £255,000, which have been received by the Company.
Following admission of the New Ordinary Shares, the total number of voting rights in the
Company's ordinary shares will be 1,445,816,502.
Contact:Stephen Komlosy, CEO TomCo 020 7766
0078
Nomad and Broker Alastair Stratton / Oliver Cardigan (Nomad)James Black (Broker)
Financial PRNumis Securities 0207 260
1000
Laurence Read/Richard
Gotla
Threadneedle
Communications
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. The leases have been
independently estimated by SRK Consultants Ltd to hold up to
230 million barrels of potentially recoverable oil in 4
separate tracts.
Around 123 million barrels of this resource lie on the main
tract of Holliday Block lease, and have
now been classified as an Indicated Resource under the JORC
Code.
TomCo has entered into a License 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
EcoShaleTM 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
The company news service from the London Stock Exchange
END
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