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Last checked at 
1 Jun 2012 07:00
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1 June 2012
TomCo Energy Plc
("TomCo" or "the Company")
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Paul Rankine becomes TomCo's permanent CEO
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The Company is pleased to announce that Paul Rankine will continue his appointment as TomCo's CEO on a permanent basis, effective today.
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Sir Nicholas Bonsor, Chairman of TomCo, commented: "I am delighted that Paul will continue as CEO of TomCo on a permanent basis. Paul has vast experience at board level with AIM-listed mining companies and coupled with his considerable knowledge of the oil shale process I am confident that the company will continue to move forward and deliver on its stated strategy."
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Enquiries: | Β Β | |
Sir Nicolas Bonsor, Chairman Paul Rankine, CEO | TomCo | 020 7766 0078 |
Nomad and Broker | ||
Alastair Stratton / Oliver Cardigan (Nomad) James Black (Broker) | Numis Securities | 020 7260 1000 |
Financial PR | ||
Josh Royston/Richard Gotla | Newgate Threadneedle | 020 7653 9840Β |
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Notes to Editors:
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TomCo Energy Plc owns oil shale leases covering approximately 3,000 acres in the Green River Shale Formation, Uinta County, Utah in 4 separate tracts. SRK Consultants Ltd has declared a surface mineable JORC compliant Indicated Resource of 123 million barrels on the main tract of TomCo's Holliday Block lease.
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TomCo has entered into a Licence with Red Leaf Resources Inc (Red Leaf), which owns the EcoShaleβ’ In-Capsule Process (EcoShale), to use this unique and environmentally sensitive technology to extract oil from TomCo's leases. Red Leaf is planning a 9,800 bopd commercial operation at their Seep Ridge site, which lies about 15 miles SW of TomCo's Holliday Block lease.
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TomCo's strategy is to develop the Holliday Block lease as a similar follow-on project to Seep Ridge using the EcoShale In-Capsule Process, with the same targeted production of 9,800 bopd.
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Glossary:
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bopd: barrels of oil per day
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JORC Code: The mineral resource classification code devised by the Australasian Joint Ore Reserves Committee
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