Application for Admission of Securities

RNS Number : 7699G

TomCo Energy PLC

03 July 2012

 



3 July 2012

TomCo Energy Plc

("TomCo" or "the Company")

Application for admission of securities

The Company announces that application has been made for the admission of 1,111,111 ordinary shares of 0.5p each in the Company ("New Ordinary Shares") to be admitted to trading on AIM. The New Ordinary Shares are to be issued in satisfaction of a share based payment at a price of 1.8 pence, calculated on the basis of the closing mid market price of TomCo shares on 29 June 2012 and will rank pari passu with the existing ordinary shares. It is expected that admission will occur at 8.00 a.m. on 9 July 2012. 

Following admission of the New Ordinary Shares, the total number of voting rights in the Company's ordinary shares will be 1,621,049,218.

Contact:
Paul Rankine, CEO	TomCo	020 7766 0078
Nomad and Broker
Alastair Stratton / Oliver Cardigan (Nomad) James Black (Broker)	Numis Securities	020 7260 1000
Financial PR
Josh Royston / Richard Gotla	Threadneedle Communications	020 7653 9840

Notes to Editors:

TomCo Energy Plc owns oil shale leases covering approximately 3,000 acres in the Green River Shale Formation, Uintah County, Utah in 4 separate tracts. SRK Consultants Ltd has declared a surface mineable JORC compliant Measured Resource of 126 million barrels on the main tract of TomCo's Holliday Block lease.

TomCo has entered into a Licence with Red Leaf Resources Inc (Red Leaf), which owns the EcoShale(TM) In-Capsule Process (EcoShale), to use this unique and environmentally sensitive technology to extract oil from TomCo's leases. Red Leaf is planning a 9,800 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 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

 

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