Board Changes

RNS Number : 2983N

TomCo Energy PLC

24 October 2016

 

24 October 2016

TomCo Energy plc

("TomCo" or the "Company")

Board Changes

TomCo Energy plc (AIM: TOM), the oil shale exploration and development company focused on using innovative technology to unlock unconventional hydrocarbon resources and on palm oil production to generate short-term cashflows announces the appointment of Alexander Benger to the Board of the Company as a Non-Executive Director with immediate effect. In addition, the Company announces that Andrew Jones has assumed the role of Executive Chairman of the Company with immediate effect.

Alexander is an SME focused corporate financier. Initially having focused on operational management within financial services companies, Alexander moved into corporate finance in 2003, concentrating predominantly on the London small cap market and has been involved in numerous fund raisings, stock market flotations and corporate actions for both private and public companies. He is currently the Director of Corporate Finance at IPO Capital Partners Limited. Alexander was also, more recently, the Head of Product Development at ICAP Securities & Derivatives Exchange (ISDX) and before that the Head of Operations at GXG Markets A/S. Alexander holds a BA (Honours) Business Administration degree from Staffordshire University.

For more information, please contact:

TOMCO ENERGY PLC	www.tomcoenergy.uk.com [phone]
Chris Brown, Chief Executive Officer Andrew Jones, Executive Chairman	[e-mail] [e-mail]
Strand Hanson (Nominated Adviser and Broker)	Tel: [phone]
James Harris / Richard Tulloch
Tavistock Communications (Financial PR and IR)	Tel: [phone]
Jos Simson

Additional Information on Mr. Alexander Benger

The following additional information is provided in accordance with paragraph 2(g) of Schedule Two to the AIM Rules for Companies.

Alexander Harrington Benger (aged 39)

Current directorships/partnerships	Previous directorships/partnerships in the last 5 years
	Scout Media Holdings Limited

Alexander Benger was a director of Capital Index Limited which was subject to a creditors voluntary liquidation on 1 May 2011 with a deficiency to creditors of £71,573.

About TomCo

TomCo Energy plc (AIM: TOM) is a London based, AIM-listed company, with 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.

The Company is seeking to develop a palm oil milling operation in the Makeni oil palm belt in Sierra Leone.

 

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