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IN BRIEF: TomCo Energy records larger annual loss on higher expenses

Fri, 01st Apr 2022 10:53

TomCo Energy PLC - London-based oil explorer in Utah - Records a pretax loss of GBP10.3 million in 2021, wider than GBP1.1 million recorded in 2020. Blames this on impairment losses of GBP8.7 million that did not occur in 2020. Reports no annual revenue, unchanged from the year prior.

Plans to realise the "significant potential" of Greenfield Energy LLC. In August TomCo Energy bought Valkor LLC's 50% interest in the joint-venture through a deferred issue of 592.8 million shares.

Current stock price: 0.50 pence, down 3.9% on Friday

12-month change: up 13%

By Abby Amoakuh; abbyamoakuh@alliancenews.com

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