Conversions of Warrants

RNS Number : 8888V

TomCo Energy PLC

20 January 2012

 



20 January 2012

TomCo Energy Plc

("TomCo" or "the Company")

Douglas Wright

The Company announces that on 19 January 2012 it was informed that, as a result of the conversions of warrants announced on 12 January 2012 and 18 January 2012, Douglas Wright's shareholding has fallen below 4% of the issued share capital of the Company and now stands at 3.96%.

Contact:
Stephen Komlosy, CEO	TomCo	020 7766 0078
Nomad and Broker
Alastair Stratton / Oliver Cardigan (Nomad) James Black (Broker)	Numis Securities	0207  260 1000
Financial PR
Laurence Read/Richard Gotla	Threadneedle Communications	020 7653 9855

Notes to Editors:

TomCo Energy Plc owns oil shale leases covering approximately 3,000 acres in the Green River Shale Formation, Uinta County, Utah. The leases have been independently estimated by SRK Consultants Ltd to hold up to 230 million barrels of potentially recoverable oil in 4 separate tracts. Around 123 million barrels of this resource lie on the main tract of Holliday Block lease, and have now been classified as an Indicated Resource under the JORC Code.

TomCo has entered into a License 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 9,500 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^TM In-Capsule Process, with the same targeted production of 9,500 bopd.

Glossary:

bopd: barrels of oil per day

JORC Code: The mineral resource classification code devised by the Australasian Joint Ore Reserves Committee.

 

END

 

 

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