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Pin to quick picksTomco Energy Share News (TOM)

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TomCo Issues Correction Regarding Reduction To Annual Cost Base

Thu, 18th Aug 2016 07:46

LONDON (Alliance News) - TomCo Energy PLC Thursday clarified that its announcement earlier this week concerning the reduction in the company's cost base was incorrect.

The company said on Wednesday that it had reduced its annual cost base to GBP155,000 compared to GBP457,000 18 months ago, representing a decline of GBP302,000, but said that was meant to be replaced with the following:

"The company has reduced its annualised cost base by approximately GBP300,000 per annum, compared with that 18 months ago and continues to monitor its overheads".

The other details published on Wednesday remain unchanged, including the estimate that it will need GBP500,000 for the construction of the company's new palm oil project in Sierra Leone and the associated processing plant. The bank balance at the end of June of GBP165,000 was also confirmed on Thursday.

TomCo shares were untraded on Thursday, last trading at 0.115 pence per share, giving it a market capitalisation of GBP2.2 million.

By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance

Copyright 2016 Alliance News Limited. All Rights Reserved. 

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TomCo Appoints Two Technical Advisors To Work On Holiday Block

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(Sharecast News) - Oil shale exploration, development and technology group TomCo Energy announced the appointment of Turner Pope Investments as its broker with immediate effect on Monday.

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TomCo Energy Fundraises To Undertake Field Test In Utah, Repay Loans (ALLISS)

LONDON (Alliance News) - TomCo Energy PLC on Monday said it has raised GBP532,350 through a share placing for general working capital purposes and repaying loans.The oil shale exploration a

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1 Nov 2018 13:34

TomCo Energy Reports Delay In Start Of Holliday Block Live Testing

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30 Oct 2018 13:53

TomCo raises extra funds through subscription, Red Leaf disposal

(Sharecast News) - Oil shale exploration, development and technology group TomCo Energy has raised £0.1m through the subscription of 1,176,471 new ordinary shares of no par value with an existing shareholder, at a price of 8.5p share, it announced on Tuesday.

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30 Oct 2018 09:30

TomCo Energy Raises GBP100,000 Via Share Subscription Pact (ALLISS)

LONDON (Alliance News) - TomCo Energy PLC said Tuesday that it has raised GBP100,000 through a share issue but added that it will have to raise new funds in future.Shares in TomCo Energy up

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12 Oct 2018 09:54

TomCo Energy's TurboShale Completes Holliday Block Drilling

LONDON (Alliance News) - TomCo Energy PLC said on Friday that TurboShale Inc, in which TomCo holds an 80% interest, has completed the drilling of wells and installation of well heads for the Block

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10 Sep 2018 12:14

TomCo Energy Finalises Field Test Preparation Works At Utah Block

LONDON (Alliance News) - TomCo Energy PLC on Monday said Himes Drilling Co Inc has completed preparation works for the field test at Holliday block located in the US state of Utah.TomCo 80%

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29 Jun 2018 12:09

TomCo Raises Cash In First Half As It Prepares For Utah Field Tests

LONDON (Alliance News) - Oil shale exploration and development company TomCo Energy PLC said Friday it has "wasted no time" in preparing for field tests in Utah after raising cash in the

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4 Jun 2018 11:54

TomCo Finds Generator Supplier To Begin Testwork At Holliday Block

LONDON (Alliance News) - TomCo Energy PLC on Monday said its field testwork at the Holliday block in Utah will start in September while it has also agreed the supply of radio frequency oil shale a

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31 May 2018 12:27

TomCo Energy Hires Drilling Partner For Upcoming Field Test Programme

LONDON (Alliance News) - TomCo Energy PLC said Thursday it has appointed a drilling contractor for its upcoming field test programme in Utah.TurboShale Inc - in which TomCo has a 80% - will

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29 Mar 2018 13:50

TomCo Energy Full Year Loss Narrows As Seeks Further Funding

LONDON (Alliance News) - TomCo Energy PLC said Thursday its loss narrowed on a lack of impairments as it continues to secure further funding to develop and operate the the 30,

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28 Mar 2018 18:45

TomCo Energy Receives GBP100,000 Loan From Christopher Brown (ALLISS)

LONDON (Alliance News) - TomCo Energy PLC said Wednesday Christopher Brown had provided a furtehr GBP100,000 unsecured loan to the firm to support working - a -

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22 Nov 2016 10:42

TomCo Energy Suspends Makarie Palm Oil Project Due To Lack Of Finance

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