Last checked at 1 Dec 2011 07:00
1 December 2011
TomCo Energy Plc
(''TomCo Energy'' or ''the Company'')
(AIM:TOM)
Change of Adviser
TomCo Energy PLC, the AIM quoted company with oil shale assets in the State of Utah, USA, is pleased to announce that Numis Securities Limited ("Numis") has been appointed as Nominated Adviser and Broker to the Company with immediate effect.
For further information please visit www.tomcoenergy.com or contact:
TomCo Energy - 0207 660 070
Sir Nicolas Bonsor, Chairman
Stephen Anton Komlosy, CEO
Miikka Haromo, Finance Director
Numis - 0207 260 1000
Alastair Stratton/Oliver Cardigan, Corporate Finance
James Black, Corporate Broking
Threadneedle Communications - 0207 653 9840
Laurence Read/Richard Gotla
Notes to Editors:
TomCo Energy Plc owns oil shale leases covering approximately 3,000 acres in the Green River Shale Formation, Uinta County, Utah. The leases have been independently estimated by SRK Consultants Ltd to hold up to 230 million barrels of potentially recoverable kerogen oil in 4 separate tracts. Around 123 million barrels of this resource lie on the main tract of Holliday Block lease, and have now been classified as an Indicated Resource under the JORC Code.
TomCo has entered into a License with Red Leaf Resources Inc (Red Leaf), which owns the EcoShaleTM In-Capsule Process (EcoShale), to use this unique and environmentally sensitive technology to extract oil from TomCo's leases. Red Leaf is planning a 9,500 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 EcoShaleTM In-Capsule Process, with the same targeted production of 9,500 bopd.
Glossary:
bopd: barrels of oil per day
JORC Code: The mineral resource classification code devised by the Australasian Joint Ore Reserves Committee.
kerogen oil: a synthetic oil derived from the heating of kerogen (a complex mixture of organic chemical compounds, present in sedimentary rocks, and which is insoluble in organic solvents)