Director Dealing

RNS Number : 4555C

TomCo Energy PLC

01 May 2012

 



1 May 2012

TomCo Energy Plc

("TomCo" or "the Company")

Director dealing

The Company was notified on 30 April 2012 that on 29 April 2012 Miikka Haromo, Finance Director, purchased for £1 a call option to acquire 15 million Ordinary Shares in the Company at a price of 3 pence per Ordinary Share from Kenglo One Limited. The option period commences on 21 July 2012 and ends on 31 December 2014.

Enquiries:
Sir Nicolas Bonsor, Chairman Paul Rankine, Interim CEO	TomCo	020 7766 0078
Nomad and Broker
Alastair Stratton / Oliver Cardigan (Nomad) James Black (Broker)	Numis Securities	0207 260 1000
Financial PR
Josh Royston/Richard Gotla	Newgate Threadneedle	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 in 4 separate tracts. SRK Consultants Ltd has declared a surface mineable JORC compliant Indicated Resource of 123 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 9,500 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 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

 

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