Last checked at 11 Jul 2012 16:37
11 July 2012
TomCo Energy Plc
("TomCo" or "the Company")
Board Update
Cassidy Gold Corp. (TSX-V) announced on 10 July 2012 that Sir Nicholas Bonsor has resigned as a director and as the Chair of Cassidy's Board and Paul Rankine has resigned as a director and the President and Chief Executive Officer. Accordingly Paul is now the full-time CEO of TomCo.
Contact: |
| |
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, Uintah County, Utah in 4 separate tracts. SRK Consultants Ltd has declared a surface mineable JORC compliant Measured Resource of 126 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(TM) 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