Last checked at 29 Nov 2011 15:21
TomCo Energy Plc
("TomCo" or "the Company")
Amendment to Director's Details
TomCo Energy plc (AIM: TOM), the AIM listed company with oil shale assets in the State of Utah, USA, announces that it has been informed that in addition to the directors' details disclosed in its admission document of 15 July 2011, Stephen Komlosy was a director of General Trading Corporation Ltd when it entered into creditors' voluntary liquidation on 16 May 2007 owing approximately £108,000 to creditors.
Contact: |
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Stephen Komlosy | CEO | TomCo | 020 7766 0078 |
Nomad | |||
Tom Price/Petre Norton | Westhouse Securities | 020 7601 6100 | |
Financial PR | |||
Laurence Read/Richard Gotla | Threadneedle Communications | 020 7653 9855 |
About TomCo:
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 kerogen 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.
kerogen oil: a synthetic oil derived from the heating of kerogen (a complex mixture of organic chemical compounds, present in sedimentary rocks, and which is insoluble in organic solvents)