Tomco Energy Regulatory News (TOM)

5 November 2018

TomCo Energy plc

("TomCo" or the "Company")

EQUITY PLACING

TomCo Energy plc (AIM: TOM), the oil shale exploration, development and technology group focused on using innovative technology to unlock unconventional hydrocarbon resources, announces that it has raised £532,350 (gross) by way of a placing ("Placing") of 6,262,944 new ordinary shares of no par value in the Company ("Ordinary Shares") (the "Placing Shares") at a price of 8.5 pence per Placing Share.

The Placing is conditional only upon admission of the Placing Shares to trading on AIM and was organised by SVS Securities plc, the Company's broker.

As previously announced, the Company is currently undertaking a field test on its Holliday Block to seek to demonstrate the applicability of TurboShale Inc.'s ("TurboShale") RF technology to the recovery of oil from the oil shale at the Holliday Block (the "Field Test"). The Company has an 80% interest in TurboShale.

As announced on 1 November 2018, the 'live' stage of the Field Test is expected to commence shortly. The 'live' stage is expected to last approximately four weeks, with data being collected to enable more accurate models to be created ahead of undertaking a pre-commercial field test, as detailed below, along with the recovery of small volumes of oil enabling the Company to confirm the quality of oil produced.

Subject to a successful Field Test, the Company intends to design and, subject to funding, conduct a larger field test, which is expected to last nine to 12 months and will seek to demonstrate the scalability of TurboShale's technology. This pre-commercial field test will also seek to test, inter alia, the use of horizontal wells and applicable recovery methods and processes. The Company anticipates seeking to raise the necessary funding for the further field test during 2019.

The net proceeds of the Placing will be used for general working capital purposes and the repayment of loans of, in aggregate, £250,000 provided by Christopher Brown which incur interest at 8% per annum and strengthens the Company's balance sheet.

Admission

The Placing Shares will rank pari passu with the existing Ordinary Shares and application will be made for the Placing Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the Placing Shares will commence at 8.00 a.m. on 20 November 2018.

Following Admission of the Placing Shares, the Company's issued share capital will consist of 69,557,214 Ordinary Shares with voting rights. There are no Ordinary Shares held in treasury. The figure of 69,557,214 may be used by shareholders, following Admission, as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Enquiries:

TomCo Energy plc

Andrew Jones (Chairman) / John Potter (CEO) +44 (0)20 3823 3635

Strand Hanson Limited (Nominated Adviser)

James Harris / Richard Tulloch / James Dance +44 (0)20 7409 3494

SVS Securities plc (Broker)

Tom Curran / Ben Tadd +44 (0)20 3700 0093

For further information, please visit www.tomcoenergy.com.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014.