19th Mar 2008 07:01
TomCo Energy PLC19 March 2008 TomCo Energy plc ("TomCo" or "the Company") Placing of Equity TomCo is pleased to announce that it has placed 67,066,666 new ordinary sharesof 0.5p each ("Placing Shares") at a placing price of 1.5 pence per PlacingShare, raising approximately £1,000,000 before expenses. The placing proceedsare expected to be used, primarily, to fund TomCo's obligations pursuant to itsacquisition of working interests in Israeli oil field Licenses held by AvenueEnergy Israel Ltd (AEI), which the Directors expect to complete by 20 March 2008 Application will today be made for the Placing Shares to be admitted to tradingon AIM, and admission is expected to become effective on 27 March 2008.Following the issue of the Placing Shares the Company's issued share capitalwill be 510,517,640 ordinary shares. A further announcement regarding the investment in the oil field Licenses heldby AEI will be made in due course. Enquiries: TomCo Energy Plc +44 (0)20 7808 4857Howard Crosby Strand Partners Limited +44 (0)20 7409 3494Warren Pearce Bankside Consultants Ltd. +44 (0)20 7367 8888Simon Rothschild Notes:TomCo is an AIM listed company which continues to actively develop a conventional oil production profile in the South-Western United States. The Company also ownsleases on approximately 3000 acres of shale oil holdings in Utah, estimated by SRK (an independent firm of mining consultants) to contain some 230 million barrels of oil. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Tomco Energy