26 Sep 2014 14:29
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26 September 2014
TomCo Energy plc
("TomCo" or the "Company")
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Director dealing
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The Company was notified on 26 September 2014 that on 26 September 2014 Mr Paul Rankine, CEO, purchased 140,263 Ordinary Shares in the Company at a price of 0.58 pence per Ordinary Share. This increases Mr Rankine's shareholding in the Company to 5,000,000 Ordinary Shares, representing approximately 0.24% of the Company's issued share capital.
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The Company was also notified on 26 September 2014 that on 26 September 2014 Mr Miikka Haromo, CFO, purchased 326,673 Ordinary Shares in the Company at a price of 0.55 pence per Ordinary Share. This increases Mr Haromo's shareholding in the Company to 3,000,000 Ordinary Shares, representing approximately 0.14% of the Company's issued share capital.
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Enquiries:
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For further information, please visit www.tomcoenergy.uk.comor contact:
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TomCo Energy plc | Tel: +44 20 7917 6822 |
Paul Rankine, CEO / Miikka Haromo, CFO Β | |
Shore Capital (Nomad & Broker) | Tel: +44 20 7408 4090 |
Nominated Adviser | |
Pascal Keane / Edward Mansfield Β | |
Corporate Broking | |
Jerry Keen | |
Tavistock Communications (Financial PR & IR) Ed Portman / Jos Simson | Tel: +44 20 7920 3150 Β |
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Notes to Editors:
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TomCo Energy plc (AIM: TOM) is a London based, AIM-listed company, with substantial Oil Shale assets in Utah, USA.
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TomCo holds a 100% interest in two Oil Shale leases, comprising 5 blocks covering 2,919 acres in Uintah County, Utah. Independent natural resources consultants SRK Consultants Ltd, part of the internationally recognised SRK Group, has declared a surface mineable JORC compliant Measured Resource of 126 million barrels on the main tract of TomCo's Holliday Block lease.
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The Company has entered into a licence agreement with Red Leaf Resources Inc ("Red Leaf") for the use of their EcoShaleβ’ In-Capsule Process, a proven and environmentally sensitive technology, to extract Oil from TomCo's leases.
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Additionally, 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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Led by a highly experienced management team, TomCo's strategy is to develop the Holliday Block lease as a similar follow-on project to Seep Ridge using the EcoShaleβ’ 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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