Last checked at 1 Jun 2012 07:00
1 June 2012
TomCo Energy Plc
("TomCo" or "the Company")
Paul Rankine becomes TomCo's permanent CEO
The Company is pleased to announce that Paul Rankine will continue his appointment as TomCo's CEO on a permanent basis, effective today.
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."
Enquiries: |
| |
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 9840 |
Notes to Editors:
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.
TomCo has entered into a Licence with Red Leaf Resources Inc (Red Leaf), which owns the EcoShale™ 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.
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.
Glossary:
bopd: barrels of oil per day
JORC Code: The mineral resource classification code devised by the Australasian Joint Ore Reserves Committee