Last checked at 26 Jan 2022 07:00
26 January 2022
TOMCO ENERGY PLC
("TomCo" or the "Company")
Services Agreement with Heavy Sweet Oil
TomCo Energy plc (AIM: TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, is pleased to announce that it has entered into an agreement with Heavy Sweet Oil LLC ("Heavy Sweet Oil"), a US based oil and gas company, to assist it with permitting and government relations in respect of their planned drilling programme adjacent to the D Tract of the Tar Sands Holdings II LLC ("TSHII") site in the Uinta Basin, Utah, United States. Should Heavy Sweet Oil progress to producing oil it is anticipated that some of the supporting infrastructure for their operations will be located on the TSHII site.
The assistance being provided to Heavy Sweet Oil is being undertaken alongside the Company's own work to progress its plans for the TSHII site. Heavy Sweet Oil have agreed to pay TomCo US$10,000 per month for its services, with the agreement backdated to start from 1 January 2022.
Enquiries:
TomCo Energy plc
Malcolm Groat (Chairman) / John Potter (CEO) +44 (0)20 3823 3635
Strand Hanson Limited (Nominated Adviser)
James Harris / Matthew Chandler +44 (0)20 7409 3494
Novum Securities Limited (Broker)
Jon Belliss / Colin Rowbury +44 (0)20 7399 9402
IFC Advisory Limited (Financial PR)
Tim Metcalfe / Florence Chandler +44 (0)20 3934 6630
For further information, please visit www.tomcoenergy.com.