8th Aug 2012 14:27
8 August 2012
TomCo Energy Plc
("TomCo" or "the Company")
Director dealing
The Company was notified on 08 August 2012 that on 08 August 2012 Mr Paul Rankine, CEO, purchased 1,295,301 Ordinary Shares in the Company at a price of 1.543 pence per Ordinary Share. This constitutes Mr Rankine's entire shareholding in the Company, representing approximately 0.08% of the Company's issued share capital.
Enquiries: |
| |
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
Related Shares:
Tomco Energy