Less Ads, More Data, More Tools Register for FREE

Pin to quick picksTomco Energy Regulatory News (TOM)

Share Price Information for Tomco Energy (TOM)

Share Price is delayed by 15 minutes
Get Live Data
0.027    0.0005 (1.89%)
Bid:
0.026
Ask:
0.028
Spread: 0.002 (7.692%)
Market Cap: £1.63m
TOM Live PriceLast checked at - London Stock Exchange

Intraday Tomco Energy Share Chart

LMO Submitted

13 Jan 2014 07:00

RNS Number : 4408X
TomCo Energy PLC
13 January 2014
 



 

13 January 2014

TomCo Energy plc

("TomCo" or "the Company")

 

TomCo Submits Notice of Intention to Commence Large Mining Operations

24 month extension to term of Liquidity Facility

 

TomCo Energy plc (AIM: TOM), the oil shale exploration and development company focused on using innovative technology to unlock unconventional hydrocarbon resources, today announces that the Company has submitted a Notice of Intention to Commence Large Mining Operations to the Utah Division of Oil, Gas and Mining ("DOGM"). This is another important step to securing all the necessary permits required for commercial production.

DOGM will post all notices to do with the Company's application on DOGM's website (http://linux1.ogm.utah.gov/WebStuff/wwwroot/minerals/mineralsfilesbypermitinfo.php). While the precise timing is beyond TomCo's immediate control, it is envisaged that DOGM should publish its tentative decision to approve TomCo's Notice of Intention to Commence Large Mining Operations ("LMO") and request a 30-day public comment period around mid-2014, although it could be earlier. The timing of the final approval for TomCo to Commence LMO is dependent on the public comments received.

 

The Company is also pleased to report that work on its Groundwater Discharge Permit is progressing well and its submission to the Utah Division of Water Quality is anticipated to take place during the Q1 2014. Further updates on progress and developments will be announced in due course.

 

In addition to the above developments the Company is also pleased to announce that the term of the Liquidity Facility with Windsor Capital Partners Limited has been extended for a period of 24 months beyond the original expiry date of 24 January 2014. The other terms of the facility remain unchanged following the reinitiating of the facility, as announced, on 23 September 2013.

 

CEO Paul Rankine commented: "Following the recent positive news that our neighbours, Red Leaf Resources, have successfully secured their last major permit required to move the Seep Ridge project into full construction phase, I am pleased to report the submission of TomCo's Notice of Intention to Commence Large Mining Operations. Attention now turns to making sure our Groundwater Discharge Permit application meets the required standards before being submitted. The Company is working hard towards the goal of securing the relevant permitting and thereby hold the same approved legal documentation as Red Leaf Resources does now."

 

Enquiries:

 

For further information, please visit www.tomcoenergy.uk.comor contact:

 

TomCo Energy plc

Paul Rankine, CEO/Miikka Haromo, CFO

 

Tel: +44 20 7917 6822

Fox-Davies Capital Ltd (Nomad & Broker)

Simon Leathers/Jonathan Evans

 

Tel: +44 20 3463 5000

Tavistock Communications (Financial PR &IR)

Ed Portman/Conrad Harrington/Jos Simson

 

Tel: +44 20 7920 3150

 

Notes to Editors:

 

TomCo Energy plc (AIM: TOM) is a London based, AIM-listed company, with substantial Oil Shale assets in Utah, USA.

 

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.

 

The Company has entered into a licence agreement with Red Leaf Resources Inc ("Red Leaf") for the use of their EcoShale™ In-Capsule Process, a proven and environmentally sensitive technology, to extract Oil from TomCo's leases.

 

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.

 

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 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

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCEAXFEFSALEFF
Date   Source Headline
3rd Jul 20129:59 amRNSApplication for Admission of Securities
13th Jun 20127:00 amRNSInterim Results
12th Jun 20127:00 amRNSMineral Resource Statement
1st Jun 20127:00 amRNSBoard Announcement
1st May 201210:06 amRNSDirector Dealing
26th Apr 20123:28 pmRNSResult of AGM and progress update
19th Apr 20127:00 amRNSApplication for admission of securities
19th Apr 20127:00 amRNSTomCo investment in Red Leaf Resources
2nd Apr 20127:00 amRNSCompletes Investment in Red Leaf
30th Mar 20124:23 pmRNSTomCo invests US$5m in Red Leaf Resources
28th Mar 201210:11 amRNSNotice of AGM
8th Mar 20125:15 pmRNSFinal Results
5th Mar 20127:00 amRNSOperational Update
21st Feb 20123:41 pmRNSDirector's Dealings
25th Jan 20129:36 amRNSExercise of Warrants
20th Jan 20127:00 amRNSConversions of Warrants
18th Jan 20124:17 pmRNSExercise of Warrants
12th Jan 20122:26 pmRNSExercise of Warrants
1st Dec 20117:00 amRNSNominated Adviser and Broker
29th Nov 20113:21 pmRNSAmendment to Director's Details
4th Nov 20117:00 amRNSStmnt re Share Price Movement
24th Oct 201110:36 amRNSHolding(s) in Company
20th Oct 201111:54 amRNSIssue of Equity
19th Oct 20117:00 amRNSRed Leaf Resources Inc
18th Oct 20114:40 pmRNSSecond Price Monitoring Extn
18th Oct 20114:35 pmRNSPrice Monitoring Extension
11th Oct 20111:06 pmRNSHolding(s) in Company
30th Sep 20117:00 amRNSHolding(s) in Company
5th Sep 20117:00 amRNSBoard Appointment
23rd Aug 20117:00 amRNSAward of Key Pre-development Contracts
1st Aug 20114:40 pmRNSSecond Price Monitoring Extn
1st Aug 20114:35 pmRNSPrice Monitoring Extension
27th Jul 20114:36 pmRNSPrice Monitoring Extension
21st Jul 20117:00 amRNSFirst Day of Dealings
11th Aug 20097:00 amRNSCancellation of Admission to AIM
17th Jun 20097:00 amRNSNotice of Results
17th Apr 20097:00 amRNSStatement re: Avenue Group Inc.
30th Mar 20096:04 pmRNSAnnual Accounts / Suspension
3rd Mar 20096:00 pmRNSIssue of Equity
11th Feb 20097:30 amRNSStatement re Suspension
11th Feb 20097:30 amRNSSuspension - TomCo Energy plc
27th Jan 20097:00 amRNSStrategic Review
15th Jan 200910:25 amRNSFundraising
25th Nov 20087:00 amRNSHeletz Field Production Update
24th Nov 20084:02 pmRNSResults of Evaluations Undertaken by TRACS
25th Sep 20087:00 amRNSAppointment of Auditor
27th Aug 20081:00 pmRNSDisposal
22nd Aug 200812:00 pmRNSHeletz Field Production Updat
22nd Aug 20087:00 amRNSChange of Adviser
17th Jul 20087:00 amRNSHeletz Field Operations Updat

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.