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TomCo Energy Pleased With Progress Made For Permit Applications

Thu, 11th Sep 2014 10:39

LONDON (Alliance News) - TomCo Energy PLC Thursday said it has made further progress in relation to its applications to commence large mining operations in its Holliday Block in Utah, in the US, as well as the ground water discharge permit.

The oil shale exploration and development company said the ground water discharge permit is progressing, with final submission expected during the fourth quarter.

The company also said that it is encouraged by progress made at Red Leaf Resources Inc's nearby Seep Ridge Project as it develops its commercial demonstration plant.

Red Leaf, TomCo's technology supplier, is progressing with a commercial demonstration project at its Seep Ridge Project, 15 miles west of TomCo's Holliday Block.

"The initial mining is nearing completion, with construction of the capsule to follow. TomCo intends to closely follow the precedent set by Red Leaf which is expected to demonstrate the commerciality of the EcoShale In-Capsule Process," the company said in a statement.

TomCo Energy shares were untraded Thursday morning at 1.10 pence per share.

By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty

Copyright 2014 Alliance News Limited. All Rights Reserved.

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TomCo raises £0.3m to bolster Greenfield's finances

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TomCo Energy raises GBP50,000 through subscription of shares

(Alliance News) - TomCo Energy PLC on Tuesday said it has raised GBP50,000 through a subscription of 50.0 million new shares priced at 0.10 pence each.

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TomCo raises £0.1m as it works on Greenfield plans

(Sharecast News) - TomCo Energy announced the raising of £0.1m on Friday, in a bid to shore up finances for the plans of its subsidiary Greenfield Energy.

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TomCo Energy rises as raises funds through subscription at premium

(Alliance News) - TomCo Energy PLC on Friday said it has raised GBP100,000 through a subscription of 125.0 million new shares priced at 0.08 pence each.

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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IN BRIEF: TomCo Energy cautions on future of company as loss widens

TomCo Energy PLC - oil development group operating in the US - In the six months to March 31, pretax loss widens to GBP1.4 million from GBP678,000 a year prior. Posts no revenue in either period. Looking ahead, firm cautions: "The cash reserves currently held by the group are insufficient to fund ongoing overhead costs for the next 12 months. However, based on a history of successfully raising additional funds when needed, the directors have a reasonable expectation that the group will be able to raise the required additional funds as necessary."

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TomCo Energy raises money to fund subsidiary's buy of Tar Sands

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TomCo draws down first tranche of its new £1m facility

(Sharecast News) - TomCo Energy announced on Monday that it was drawing down the initial £0.25m tranche of its £1m convertible loan facility, which it announced on 30 March.

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