Board Update

RNS Number : 4725H

TomCo Energy PLC

11 July 2012

 



11 July 2012

TomCo Energy Plc

("TomCo" or "the Company")

Board Update

Cassidy Gold Corp. (TSX-V) announced on 10 July 2012 that Sir Nicholas Bonsor has resigned as a director and as the Chair of Cassidy's Board and Paul Rankine has resigned as a director and the President and Chief Executive Officer. Accordingly Paul is now the full-time CEO of TomCo.

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	Newgate Threadneedle	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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