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New Canadian investor in Red Leaf Resources
http://www.questerre.com/en/newsroom/press-releases/2011/questerre-executes-unconventional-oil-strategy/
Pursuant to the letter of intent with Red Leaf Resources Inc. ("Red Leaf"), an oil shale technology and resource company, Questerre intends to participate for a 10% working interest in the development of Red Leaf's 5120 acres in Wyoming. Subject to the execution of a joint venture farm-in and operating agreement,Questerre anticipates its total capital exposure to this project for 2012 to be US$0.25 million.
The letter of intent also contemplates that Questerre will acquire an equity interest in Red Leaf through participation in the company's planned financing. Subject to participation by a super major for approximately US$400 million, Questerre would invest US$25 million.
Before or after Christmas Stephanie it doesn't really matter as we know all matters will be resolved re permit and onto more important issues.
OIL Shale in UTAH
Red Leaf Resources expecting news of their mining permit shortly, possibly before Christmas.
EcoShale and Red Leaf Resources
Agree, when the greater market becomes aware of the benefit of the Ecoshale process, then they will also become aware of the attractions of Tomco Energy shares quoted on AIM in London.As Red Leaf is currently a private company, Tomco Energy affords the US investor to become involved in the oil shale revolution via Tomco Energy.
Current price 2.15p / 2.25p
s
Great i did see it good read although people still haven't caught on to this possible gold mine of a ECO-SHALE share.
http://wiki.advfn.com/en/TomCo_Energy#Ecoshale_Benefits
Click on this link and read all the background about the very excitinf Oil shale devevelopment in Utah by Tomco Energy PLC (AIM LISTED IN LONDON -TOM) and Red Leaf Resources.
stephanie.speculator@gmail.com
Please see the following link on TomCo Energy. It's a fresh and compelling piece that you don't want to miss. Well reasoned analysis, not hype.
http://seekingalpha.com/author/peter-epstein/instablog
Interesting debate going on after RNS. Due Diligence approaches,bids etc could become an even more exciting share than i first thought.
Well not long to go now, so when news breaks this slow fall in the sp should be replaced a by a rather quicker rise.
[[color=red]color=red]Mining Permit approval awaited.[/color]
See notice below published in local media 20th Oct 2011.
If no objections after 30 days Red Leaf will get their approval.
Tomco Energy have a licence from RL to use the EcoShale process on their own Holliday Block that has up to 230M barrells of oil shale.
Perhaps an interesting time to invest in Tomco Energy?. Quoted on London AIM Market. Current price 2.50p / 2.60p
[/color]
BEFORE THE DIVISION OF OIL, GAS AND MINING DEPARTMENT OF NATURAL RESOURCES ST...
BEFORE THE DIVISION OF OIL, GAS AND MINING DEPARTMENT OF NATURAL RESOURCES STATE OF UTAH Notice of Tentative Decision to Approve M/047/0103 In the Matter of Tentative Decision to Approve a Notice of Intention to Commence Large Mining operations for the Red Leaf Resources, Southwest #1 Mine Uintah County, Utah Notice is hereby given by the Division of Oil, Gas and Mining of its tentative decision to approve the Notice of Intention to Commence Large Mining Operations for the Southwest #1 Mine. Mining activities will affect the following area:
Sections 19, 29 and 30, township 13 South, Range 23 East, and Sections 25 and 36, Township 13 South, Range 22 East, SLBM., Uintah County, Utah.
Any person or agency aggrieved by this tentative decision may file a written protest within thirty (30) days of the date of publication to Dana Dean, P.E., Associate
Director of Mining, Division of Oil, Gas and Mining, 1594 West North Temple, Suite 1210, Box 145801, Salt Lake City, Utah 84114-5801, setting forth factual reasons for the complaint. Dated this 20th day of October, 2011 State of Utah Division of Oil, Gas and Mining Dana Dean, P.E. Associate Director, Mining 736781 UPAXLP
Energy Development in Utah: Weighing the Costs and Benefits
by Heather Stewart
18 November 2011—
Gov. Gary R. Herbert sent a strong message to Washington during his State of the State address in January. “I remind Washington,” he said, “we are a state, not a colony, and I assure you, on my watch, Utah will not stand idly by.”
What had Herbert taking such a firm fighting stance? Well, many issues, ranging from immigration to healthcare reform—but also access to federal lands and the energy resources they contain.
The federal government owns 70 percent of the land in Utah, most of it under the purview of the Bureau of Land Management. In fact, the BLM oversees 23 million acres of surface land and 32 million subsurface acres in Utah (the agency controls subsurface mineral resources on tribal lands and U.S. Forest Service lands, among others).
The BLM has a complicated mandate from Congress: it must both preserve and protect the land, and allow access for agriculture, recreation, energy extraction and many other purposes.
“[Congress] gave us quite a tall glass of water to drink,” says Juan Palma, director of the Utah BLM. Not every possible use—recreation, wilderness preservation, energy development—can take place on each square acre of land, so the agency must find the most appropriate use for each piece of land.
“And therein lies the controversy,” says Palma.
Black Gold
Utah’s deserts and rock formations conceal a buried secret: vast amounts of fossil fuel resources including coal, oil and natural gas.
Coal mines are abundant in Central Utah, while the Uinta Basin in the northeastern part of the state is being tapped for its crude oil and natural gas. In fact, Uintah, Duchesne and Carbon counties are home to nearly all of the oil and gas operations in the state.
The area is also rich in oil shale and tar sands—a resource that has yet to be successfully unlocked on a grand scale. With the potential for producing billions of gallons of oil, the area has caught the attention of inventors and investors determined to transform solid rock into black gold.
For better or for worse, the economy of the Uinta Basin is tied to energy development.
“The energy industry in one form or another—it’s our lifeblood,” says Tammie Lucero, executive director of economic development for Uintah County. She points out that 65 percent of all natural gas used in the entire state comes from Uintah County.
The economic impacts can be felt in many ways. Energy companies pay leasing fees to use public land, as well as taxes on their revenues. If the land is state owned, the company must pay royalties to the Utah State Trust Lands Administration (STLA), which benefits the state’s educational system.
And, of course, energy development provides quality jobs in a rural region.
“In Uintah County, 60 percent of their employment is through oil and gas; 80 percent of their income—salaries, taxes, revenues—comes from the oil and gas industry. Uintah County is dependant upon the oil and gas industries for their survival,” says Brad Miller, general manager of regulatory affairs for Anadarko, a global energy company.
Based in Texas, Anadarko is the largest producer of natural gas in Uintah County—and in the entire state. According to Miller, the company produces 550 million cubic feet of natural gas per day in Utah, enough to heat 2 million homes every day.
“Anadarko employs 200 people [in Utah] directly. Any given day, we run about 600 contractors, so we’re a significant employer in the Basin,” he says. “In the past four years, we’ve paid $630 million in taxes, royalties and salaries.”
Furthermore, he says Anadarko has spent $2 billion in Uintah County over the past four years. The company drills about 250 wells each year, and Miller says, “We plan to continue that or ramp it up going forward.”
A Fight with the Feds
Despite a recent uptick in drilling, Lucero believes the industry is being thwarted and fears for the economic stability of the Basin.
“[The industry] could be booming, but the federal government has made it unfriendly to do energy business in Uintah County,” she says. A major sticking point has been the number of new leases issued by the BLM. “Several years ago, they had 1,300 leases in Uintah County to drill in one year—that was in the boom cycle…Last year, the BLM did not even give out 100.”
The difficulty in obtaining leases or permits to drill is making companies think twice about doing business in Utah, according to Lucero.
But the BLM is not trying to thwart energy development, says Palma, who insists the agency is development friendly but that its focus has changed.
Palma explains that once leases have been auctioned off, companies must still go through a permitting process in order to drill each well. The permits are evaluated by the BLM and then screened for environmental impacts.
“There are several steps on the journey between somebody proposing to lease a parcel and when there’s actually a drill rig drilling for oil or gas,” Palma says. The applications to drill describe how trucks will access the drill site and, among other things, must account for archeological, wildlife, water and air impacts.
Palma was appointed to head the Utah BLM in May 2010, and he says he quickly realized that the BLM was not issuing enough drilling permits to keep companies working. So the agency has focused less on leasing new parcels and more on ushering applications to drill through the permitting process.
“The real employment isn’t at the leasing stage—that’s just a piece of paper. The real employment occurs at the drilling stage…That’s where people have jobs. That’s where semis are moving,” he says.
The numbers back him up. In 2009, the state had 1,170 applications for permits to drill, but drilling commenced on only 514 wells, according to the state Division of Oil, Gas and Mining. But in 2010, the state had only a slight uptick in applications—1,185—but drilling commenced on 975 wells.
Regulatory Nightmare
It would be difficult to dispute that energy companies face a regulatory nightmare in the Basin. Much of the land there is controlled by the BLM, but there is also state-owned, tribal and some private land. Energy companies must navigate a patchwork of overlapping agencies, both federal and state.
In addition to the BLM, companies may need to gain approvals from the U.S. Army Corps of Engineers, the Environmental Protection Agency, the state Department of Natural Resources and several of its divisions, the Department of Environmental Quality and county agencies, among others.
The tortuous process of winding through all of these agencies can take years.
Anadarko recently completed an environment impact statement for an additional 3,675 wells in the Greater Natural Buttes area—a major production increase that will bring hundreds of new jobs. “It’s been in the process about four years now, and that’s actually on the fast track,” says Miller.
His biggest complaint is that the various agencies don’t start working together early enough in the process. The BLM works exclusively on an impact statement for the first couple of years, he says. “After they get their draft done, they turn it over to all the different cooperating agencies.”
Then the EPA returns the document with comments and suggestions, as do the other regulatory agencies. “So it’s a sequential and extremely long process,” Miller says, adding that the agency requests may actually be in conflict with each other.
His suggestion is to get everybody working together from the get-go. “We’d like to do it early in the process instead of late in the process in a sequential manner.”
The complicated regulatory environment is causing companies to abandon the Basin for energy-rich areas on private land, says Lucero.
“One particular company had 10 permits approved when they had applied for hundreds in a month. You can’t do business that way,” she says. “Then they go to Williston, North Dakota, and they can do whatever they want, however they want, as fast as they want, when they want, basically. They still have to get some permits, but because it’s privately owned property, it’s much, much easier.”
A Delicate Balance
The Uinta Basin is an arid environment that supports several unique and rare species of plants, like the Uinta Basin Hookless Cactus. The region is home to Rocky Mountain sheep, mule deer, black bears and prairie dogs. Bird watchers come to see the bald eagles, Golden eagles, hawks and hundreds of other bird species.
Water is of prime importance in the dry climate, and several creeks and rivers flow through the Basin from the Uinta Mountains to the north. Many of these smaller rivers merge together and eventually feed the Green River and ultimately the Colorado River.
The Basin also contains a rich treasure of prehistoric fossils and the archaeological remains of at least two ancient cultures.
So it’s no wonder that many are concerned about the impacts of energy extraction on the landscape.
“Our concern is the effect that energy development will have on [wilderness-caliber] lands, and if it’s surface development that comes along with the drilling of the wells or the mining of coal, oil shale or tar sands—and then all of the other aspects of energy development that come part in parcel: the roads, the pipeline, the other infrastructure that’s necessary to make that development happen,” says Stephen Bloch, attorney for the Southern Utah Wilderness Alliance (SUWA).
The organization has fought to mitigate some of the impacts of energy development in the region. But that does not mean SUWA is completely obstructionist: it has worked with at least three energy companies on development plans that minimize harm to the delicate ecosystem and waterways.
Bloch points to a settlement between SUWA and the Bill Barrett Corporation, which wanted to drill in the environmentally sensitive West Tavaputs plateau.
“The company significantly reduced the footprint of the project while still maintaining access to the overwhelming majority of the gas resources. So they are lighter on the land in terms of where their surface locations are,” says Bloch. The company’s original proposal called for 800 wells, 200 of which would be located in “areas that the BLM acknowledged were wilderness value. At the end of the day, the project that was approved by the BLM had less than six of those locations.”
Bill Barrett will actually be able to get even more gas than it originally predicted, says Bloch. But more importantly, the landscape that is now spared from drill rigs “is just west of the Desolation Canyon stretch of the Green River. This is an area that’s extremely remote, popular for river runners, renowned for its solitude, for its natural quiet—the fact that they won’t be having wells within sight or sound of the river is significant.”
The disfigurement of beautiful scenery is only one of the environmental impacts of drilling. The large drill pads, generally spaced 10 acres apart, fragment wildlife habitat and migratory pathways. The heavy trucks emit pollutants into the air, and drilling processes can pollute the air and groundwater.
Newer processes have diminished many of these problems, says Anadarko’s Miller. For one thing, the company now drills up to four wells from each drill pad. “One, it ended up saving us money, and two, it reduced our [habitat] fragmentation. It reduced our truck traffic significantly, so we’re not bothering the habitat near as much,” he says.
The company uses a gas-gathering system and low-bleed valves to prevent natural gas from seeping into the air from drill sites. “We’ve done a lot of things to ensure we have minimal release of natural gas or volatile organic compounds,” says Miller.
In the drilling process, pressurized water is surged deep into the ground. Anadarko recycles 90 percent of those “stimulation” fluids. “When we go to the next well, we only have to bring about 10 percent of that volume...Two, three years ago, we would have hauled the water by truck. That took about 550 truck loads of water to move from one location to the next—each day.”
Now the company uses irrigation pipe to pump the water from location to location. That measure alone has reduced truck traffic by 2.5 million miles per year, says Miller, and saved the company about $50,000 per well.
“A lot of these things we’re doing for the environment are saving the company a significant amount of money,” he says.
Buried Treasure
The other, as-yet untapped resource in the Basin is oil shale—rock containing trapped organic material, from which oil can be produced. Several companies are itching to start mining and processing the shale, often with new and unproven technologies.
The Energy Policy Act of 2005 directed the BLM to develop a research and development leasing program for oil shale on federal lands. The BLM issued a call for proposals, and six “demonstration” projects were given the green light with 160-acre parcels and a first-preference right for nearly 5,000 additional acres if the projects proved successful.
In 2010, the BLM approved three additional demonstration projects. However, none of these projects have moved beyond the research and development stage.
Although 72 percent of the country’s oil shale resources are on BLM lands, many companies are pursuing oil shale development on state, tribal or private land.
Several companies discussed their plans and technologies at a recent conference on unconventional fuels hosted by the Institute for Clean and Secure Energy at the University of Utah. Earth Energy Resources, for instance, has developed a patent-pending process that uses a bio-solvent to liberate hydrocarbons from sand grains. The process will leave only “clean” sand that can be used to backfill the mine, according to D. Glen Snarr, president and CFO of Earth Energy.
The company has obtained a large mine permit from the Utah Department of Oil, Gas and Mining, but the permit is under appeal by Living Rivers, an environmental organization that is working to protect and restore rivers in the Southwest.
Red Leaf Resources has completed a pilot project and plans to ramp up to a small mining operation on state land this year. The company’s patented process involves encapsulating mined shale in a clay shell, then heating the shale with natural gas heaters. When the process is completed, the capsule is simply left in place and the surface reclaimed through seeding.
Laura Nelson of Red Leaf points out that the process uses almost no water and emits two-thirds less carbon dioxide than traditional methods of processing oil shale.
An Estonian company, Enefit, recently purchased large oil shale holdings in Utah. The company’s technology “does not need to be proven,” says Chairman Harri Mikk, who points out that Enefit has successfully operated an oil shale plant in Estonia for decades.
Enefit’s process involves mining the shale then transporting it to a plant for processing. Mikk expects it to take up to six years to obtain the necessary permits to begin its Utah operations. At the earliest, the company will produce its first oil in 2019.
Many remain skeptical that developing oil shale is technologically, financially or environment-
ally feasible.
None of the BLM’s demonstration projects have moved forward, points out Bloch. “So we don’t know what the true environmental or economic costs are going to be, but what we’ve seen so far is significant amounts of water in a state and in a region that needs every drop of water that it has, significant air pollution, and in a place like the Uinta Basin, which is exceeding federal air quality standards on an annual basis in the wintertime.”
The economics don’t add up either, he says. “If these companies could make synthetic crude for $30 a barrel—which all of them say is possible—they’d be doing it right now.”
Nelson implies that the benefits of developing oil shale resources may outweigh environmental costs. “When we rely on the rest of the world to meet our energy needs, we are simply exporting the environmental problems,” she says.
And helping the country reduce its dependence on foreign oil also has national security implications, says Lucero. “If we need the oil and we need the gas and we’ve got it here, it’s still far better than always importing everything.”
Tomco does offer the perfect alternative to conventional oil production being safe clean and green and if a major gets involved be it Shell Total whoever it will put this technology well on the map and could encourage more people from this side of town to get involved, with Red Leaf to soon announce their permit and other exciting news would be a great time to get into TOMCO. IMO.
Tomco seems like a pretty good way for people in the US to invest in their new oil shale industry!
Looking good so far!
Latest from Tomco Energy BB in the UK
rmart - 11 Nov'11 - 18:39 - 12492 of 12553
there was one poster on here this week who was honest enough to admit selling and hoping to get in lower but it didnt work out.
Although some will have achieved that, there will be lots who will have big regrets on selling these soon.
medium to long term there is only 1 way these are going and that it very very much up.
The maths tell you so. There will be more ups and downs but ulitmately we are on the way up. If you looka the the chart over 1 month it will tell you we are moving up.
230m barrels at an average of just $5 a barrel gives around $1 per share. We have NO DEBT. Simple maths.
Like Yaris says, there are a few oilers with massive market caps and NO OIL. We should be much higher, but on the way up people take profit and so fall backs occur.
We all hate to see it, but it is obviously going to happen. However, like I say medium to long term this is a big winner.
Good evening
See the change at www.tomcoenergy.com
What on earth would make TomCo change their website ON a Saturday, AND change their logo, if it was not that next week would be a good one with a sentiment change?
Drrichard
Well what another great day,sure people think they have missed the boat or should i say train grab a ticket and ride the Tomco express to profits!!!!!!!!!!!!!!!!!!!!!!!!!!
Latest from TOMCO BB in UK
rmart - 6 Nov'11 - 23:26 - 11181 of 11187
For Newbies, from the Mail article.
TOMCO - A Gusher for Every Portfolio.
Our eagle-eyed independent investors doing their due diligence have spotted that a company called Kenglo One owns almost 35 per cent TomCo’s equity. This is one of the investment vehicles for Chris Brown, the former Williams de Broe analyst who made his fortune at London Mining.
(he also made a fortune for london mining shareholders)
Forensic inspection of the share register throws up two other names – Mark Donegan and Dominic Redfern, respectively managing director and partner at Altima Partners, the private hedge fund which backed Brown in his early days.
(these guys each put £1m and £1.25m of their own cash into Tomco shares)
A recent spike in the TomCo share price has been prompted by speculation that Red Leaf, which is mining the nearby Seep Ridge area using the same technology, is talking to one of the oil industry’s majors, possibly Total.
(this bit is true)
City firm Optiva Securities says the company is worth 10p a share, which is still a 60 per cent discount to the net present value of its assets. (discounted from 24p) Analyst Jason Robertson concludes: ‘As both Red Leaf and TomCo move nearer to their respective production points, we anticipate a rapid project de-risking and elimination of the above discount.’
(sp to reach 24p)
There is an intricate network of contacts in the City that operate to everybody’s mutual benefit – everyone except, of course, Joe and Josephine Bloggs trading their SIPP.
................
So if you are the equivalent of Joe and Josephine Bloggs and you would like a multi bag share in your portfolio, do some of your own research and get yourself some TOM shares.
The Tomco Express departs at 8am tomorrow - Choo Choo.
And a Message to The Fat Controller (the FSA ) V.
There was no need to force that RNS on Tomco. If you bothered yourselves to do some research into companies before getting your clipboards out you would realise that the SP is so far undervalued that it is simply finding its real level.
http://www.thisismoney.co.uk/money/markets/article-2057739/INVESTMENT-EXTRA-Traders-gushing-TomCo-shares.html?ito=feeds-newsxml
[color=black][/color]Latest from TOMCO ENERGY BB in UK
SKIBOY10
rmart - 6 Nov'11 - 11:41 - 11131 of 11137 (premium)
A few points from the slides you posted.
1. The Seep River tract where Red Leaf are undertaking a JV with an oil major (Poss Total. lol) has a resource of 90 to 120m barrels of oil.
2. The oil major is said to be putting in up to $330m into this JV. (confirmation expected this month).
3. Tomco's Holliday block is in fact larger than seep ridge with 123m barrels (poss a lot more)
4. Of the 5 tracts of Tomco land 3 of them are directly attached to Red Leaf tracts. 1 is within a stones throw. and the other is just a few miles away.
5. Red Leaf and its JV partner are looking for acquisitions.
6. The Chinese recently paid $15 a barrel.
Looks very very good to me and highly likely we could see a bid for TOM in the region of $15 per barrel for the Chinese, another major, or indeed Red Leaf/Total.
------------------------------------------------------------------------------------------------------------------------------
Good post Martin. Even at $5 a barrel for the 123M barrels of indicated reserves on the Holliday Block we would be looking at a take out at $5 x 123M = $615M.
615M/1.4B = 44c or 27p a share.
US / Canadian citizens can buy Tomco shares that are quoted on AIM in London.
You should consult your broker about this if you are interested in getting on board the "Tomco Express"
I understand that there are no immediate plans to re commence the previous ADR facility.
Red Leaf is a private company at the moment, so Tomco offer the best entry into the oil shale development in Utah and surrounding areas.
This is in my opinion an opportunity not to be missed
Current London Price 2.45pence / 2.50pence.
s
Stephanie, nice job on the site.
Things really looking up for Tomco as the share price shows. Red Leaf looks as though things are going along to schedule.
I cannot wait for Tomco to be available to us here in the States as I am sure others here will want to buy in.
Nobody has done their homework on Tomco like you have and I appreciate your time and effort in keeping the site updated.
Yesterday's RNS in UK showed up the two types of investors in this stock. The original and long term holders who have seen Tomco rise from the ashes and relist on AIM and the newbies who know nothing and hope to make a quick killing. Rash decisions made yesterday based on that RNS certainly showed the men from the boys (and the ladies from the girls,of course!)and allowed others to top up their holdings at a lower price.
The view of the long termers is still very bouyant and positive because the quality posts are based on known fact or sensible speculation over a long period of time.
Nothing has changed for Tomco which makes it surprising that so many took the content in a negative light. The pending news from Red Leaf will be a positive boost for Tomco and we await news of further developments for Tomco itself and their operations in Utah.
Given who's involved, where the oil shale sits, the Ecoshale process and the potential for this company, the current sp in my opinion is ridiculously low. All people have to do is read the contributions so generously shared and make their minds up. Personally, it's a 'no-brainer'. I still think that not many people realise the impact Ecoshale and Tomco will have on USA oil self sufficiency.
Regards
Pete
In today's Daily Mail on line
In the City, as in life, it is often not what you know, but who you know. It is a point I make in my book The Street-Smart Trader, and it is a lesson well-learned by the independent investor.
Those closest to the beating heart of the City will be the first to pick up the latest market-moving intelligence.
There is an intricate network of contacts in the City that operate to everybody’s mutual benefit – everyone except, of course, Joe and Josephine Bloggs trading their SIPP.
Digging deeper: TomCo is planning to extract hydrocarbons from the oil rich oil shale of Uintah County, Utah
It’s not a conspiracy, but it is a definite and perhaps inevitable consequence of grouping together so many similar, interconnected businesses and people, all working in the same, or related, industries in an incredibly small area.
If all of this sounds depressing, it shouldn’t. It is simply a reality check. The smart investors who aren’t in this magic circle have a way of counteracting this natural bias towards the pros.
More...SMALL CAP MOVERS: Aim stocks stoic amid Greek crisis and MF Global bankruptcy
CITY DIARY: Retail and banking sectors under the spotlight with Lloyds, HSBC, Sainsbury's and Marks & Spencer updating the market
They watch, assess and scrutinise – in short, they do their homework. Not just that, they follow closely what the smart money is doing.
A case in point is TomCo Energy, where share trading volumes have perked up and the stock is on the march.
Our eagle-eyed independent investors doing their due diligence have spotted that a company called Kenglo One owns almost 35 per cent TomCo’s equity.
This is one of the investment vehicles for Chris Brown, the former Williams de Broe analyst who made his fortune at London Mining. Forensic inspection of the share register throws up two other names – Mark Donegan and Dominic Redfern, respectively managing director and partner at Altima Partners, the private hedge fund which backed Brown in his early days.
So the presence of investors of this calibre on the shareholder register suggests TomCo is at least worthy of closer scrutiny.
Digging deeper we find out the company relisted in July, raising £3.5m at 1p. Today the shares are changing hands for 2.37p – a tidy profit for those who backed the cash call.
The name TomCo is an abbreviation of The Oil Mining Company, and the clue is in the name. It plans to extract hydrocarbons from the oil rich oil shale of Uintah County, Utah.
In all, TomCo has almost 3,000 acres in the Beehive State. As this is a mining project it has a something called a JORC resource rather than proved and probable reserves.
This currently stands at 230m barrels of oil. A total of 123m barrels of this indicated resource is assigned to the 1,000-acre Holliday Block. Here the company plans to mine and operate with a production of 9,500-barrels-a-day, with the first oil expected by the middle of 2014.
It will strip-mine the oil shale and place it into ‘capsules’, using the EcoShale process which has been tried and tested on a pilot scale by Red Leaf Resources, its neighbour in Utah. I
t works by using a stack of steel pipes, laid down in the capsule, through which is blown hot gas to heat up the oil shale.
Collection systems are placed at the top of the capsule for the gas, and at the bottom for the oil.
Over the 200-day process two synthetic oi l shale products are collected. A recent spike in the TomCo share price has been prompted by speculation that Red Leaf, which is mining the nearby Seep Ridge area using the same technology, is talking to one of the oil industry’s majors, possibly Total.
If this is indeed the case, then it places TomCo’s activities in a different light. However, it is merely speculation at this stage. City firm Optiva Securities says the company is worth 10p a share, which is still a 60 per cent discount to the net present value of its assets.
Analyst Jason Robertson concludes: ‘As both Red Leaf and TomCo move nearer to their respective production points, we anticipate a rapid project de-risking and elimination of the above discount.’
OUR VIEW: TomCo is an interesting play on what could be emerging oil territory. But it is not for widows and orphans. And remember, always do your own due diligence (so don’t just rely on what I have said) and set a trailing stop-loss.
Ian Lyall is the author of The Street- Smart Trader (go to
Read more: http://www.thisismoney.co.uk/money/markets/article-2057739/INVESTMENT-EXTRA-Traders-gushing-TomCo-shares.html#ixzz1cmP8Grrq
Stmnt re Share Price Movement
TomCo Energy PLC
RNS Number : 4889R
TomCo Energy PLC
04 November 2011
?
TomCo Energy Plc
("TomCo" or "the Company")
Statement re. Share Price Movement
The Company notes the strong performance of its shares in recent days and, for the avoidance of doubt, confirms that it has no imminent corporate announcements.
Contact:
Stephen Komlosy CEO
TomCo
020 7766 0078
Nomad
Tom Price/Petre Norton
Westhouse Securities
020 7601 6100
Financial PR
Laurence Read/Richard Gotla
Threadneedle Communications
020 7653 9855
Rd Leaf have outline planning permission, another hurdle passed
Looks like Red Leaf have their planning permission !!!!
http://www.utahlegals.com/notice.php?id=122792
BEFORE THE DIVISION OF OIL, GAS AND MINING DEPARTMENT OF NATURAL RESOURCES STATE OF UTAH
IN THE MATTER OF TENTATIVE DECISION TO APPROVE A NOTICE OF INTENTION TO COMMENCE LARGE MINING OPERATIONS FOR THE RED LEAF RESOURCES, SOUTHWEST # I MINE UINTAH COUNTY. UTAH NOTICE OF TENTATIVE DECISION TO APPROVE
Notice is hereby given by the Division of Oil, Gas and Mining of its tentative decision to approve the Notice of Intention to Commence Large mining Operations for the Southwest # 1 mine. Mining activities will affect the following area: Sections 19.29, and 30, Township 13 South, Range 23 East,
and Sections 25 and 36, Township 13 South, Range 22 East, SLBM., Uintah County, Utah.
Any person or agency aggrieved by this tentative decision may file a written protest within thirty (30) days of the date of publication to Dana Dean, P.E., Associate Director of Mining, Division of Oil, Gas and Mining, 1594 West North Temple, Suite 1210, Box 145801, Salr Lake City, Utah 84114-5801, setting forth factual reasons for the complaint. DATED THIS 20TH DAY OF October, 2011. STATE OF UTAH DTVISION OF OIL. GAS AND MINING.
Published in the Vernal Express Oct. 26, 2011
Absolute no brainer at these prices get on-board for a magical ride this has so much momentum maybe a few pauses on the way,it could be a life changer.
Tomco Energy - Daily Mail Thursday 3rd Nov 2011
"The highly speculative Isle of Man-based TomCo Energy jumped 0.5p to 2.35p after directors returned apparently upbeat from a visit to Utah, where they met Governor Gary Herbert, Redleaf Resources and other parties to discuss future production of oil on their leases"
Read more: http://www.thisismoney.co.uk/money/markets/article-2056762/MARKET-REPORT-Glittering-gold-boosts-miners-Greek-tragedy-continues.html#ixzz1cak4Yn6Q
TomCo Share Price Soars
From ADVFN StockWiki
Industry Mining and Oil and Gas Producers
Trades as LSE:TOM
Website www.tomcoenergy.com
Wednesday, November 2, 2011
TomCo Energy is a top moving stock today, up more than 25% as investor confidence soars in shale oil processing.
The company owns leases covering around 3,000 acres of some of the best shale oil lands in Utah, estimated to hold as much as 230 million barrels of oil. This deposit is part of the greater Green River Formation, which is a region with oil holdings estimated up to 1.8 trillion barrels, 800 billion of which are said to be recoverable.[1] TomCo bought a license in March 2010 to use technology developed by Red Leaf Resources called EcoShale to extract the oil most efficiently.[2]
The EcoShale process involves heating the mined shale in an enclosed capsule, extracting two different types of shale oil products. This process is a much cleaner and more efficient way of extracting oil from shale and has allowed for an increase in shale extraction in the Green River region. The process requires no water, uses lower temperatures for operation, and allows for quick site reclamation after the shale has been extracted.[3]
The estimated potential reserves in the Green River Formation hold more than triple the proven reserves in Saudi Arabia. The political climate with reference to fossil fuels in America is also conducive to the expansion of shale oil extraction, as pressure is increasing to reduce dependence on foreign oil.[4] These market conditions, in combination with TomCo's strategic holdings in Utah and their license to use EcoShale processing technology, have made this stock a popular buy, even prompting a massive investment by London Mining founder Christopher Brown, whose company Kenglo owns 29.9% of the company. TomCo was also recently valued at £10 per share by Optiva Securities, who calculated a pre-tax net present value of $687 million at a 10% discount rate for TomCo's Holliday oil shale project.[5]
The popular opinion is that TomCo has nowhere to go but up, with many ADVFN users taking to the blogs about their expectations. One user, rmart wrote today, “you search for years on AIM for an opportunity like this,” while devil20 claimed, “this chart is looking more n more like a stairway to heaven.”[6] It would seem that the US shale industry is poised for a take-off, and TomCo is along for the ride, quickly becoming a long-term hold for many traders.
TomCo Energy PLC Issue of Equity
Thursday, October 20, 2011
TomCo Energy plc, the AIM listed company with oil shale assets in the State of Utah, USA, has issued 100,920,548 shares in the Company to Kenglo One Limited ("Kenglo") at a price of 1p per share following the conversion of Kenglo's outstanding convertible loans to the Company, together with accrued interest. Following this issue, Kenglo holds 492,920,548 shares representing 34.91% of the capital of the Company and the Company no longer has any outstanding loans.
The conversion follows the consent by the Takeover Panel to a waiver of the obligation that would otherwise arise under Rule 9 of the Takeover Code for Kenglo to make a general offer for the Company following approval from the majority of independent shareholders.
The Takeover Code
Under Rule 9 if any person, together with persons acting in concert with him, is interested in shares which in the aggregate carry not less than 30% of the voting rights of a company which is subject to the Takeover Code but does not hold shares carrying more than 50% of such voting rights, and such person, or any person acting in concert with him, acquires an interest in any other shares which increases the percentage of shares carrying voting rights in such company in which he is interested, that person is normally required to make a general offer in cash to all shareholders in the company at the highest price paid by him or any person acting in concert with him for an interest in such shares within the preceding 12 months.
The Takeover Panel the Panel will only waive the requirement for a general offer to be made in accordance with Rule 9 on the condition that the shareholders of the company who are independent of the person who would otherwise be required to make an offer and any person acting in concert with it ("the Independent Shareholders") pass an ordinary resolution on a poll at a general meeting ("a Whitewash Resolution") approving such a waiver. The Takeover Panel may waive the requirement for a Whitewash Resolution to be considered at a general meeting (and for a circular to be prepared in accordance with Section 4 of Appendix 1 to the Code) if Independent Shareholders holding more than 50% of the company's shares capable of being voted on such a resolution confirm in writing that they would vote in favour of the Whitewash Resolution were one to be put to the shareholders of the company at a general meeting.
Independent Shareholders representing 50.20% of TomCo's shares capable of being voted on a Whitewash Resolution have provided the Takeover Panel with confirmation in writing that they would vote in favour of a Whitewash Resolution were one to be put to the shareholders of the Company at a general meeting.
Total voting rights
The total number of ordinary shares in issue following the conversion is 1,411,816,502.
Admission to AIM
An application for admission of the new shares to trading on AIM will be submitted and trading is expected to commence on 26 October 2011
Red Leaf Resources Inc
TIDMTOM
RNS Number : 4255Q
TomCo Energy PLC
19 October 2011
TomCo Energy Plc
("TomCo" or "the Company")
Red Leaf Resources Inc
TomCo Energy plc (AIM: TOM), the AIM listed company with oil shale assets in the State of Utah, USA, announces that it is aware that Red Leaf Resources Inc is in the process of finalising funding commitments through partnerships and raising private equity for its Utah Project, which lies about 15 miles south west of TomCo's Holliday Block lease.
The Company intends to release a further announcement if and when this process completes.
Contact:
Stephen Komlosy CEO TomCo 020 7766
0078
Nomad
Tom Price/Petre Norton Westhouse Securities 020 7601
6100
Financial PR
Laurence Read/Richard Threadneedle Communications 020 7653
Gotla 9855
About TomCo:
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 kerogen 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.
kerogen oil: a synthetic oil derived from the heating of kerogen (a complex mixture of organic chemical compounds, present in sedimentary rocks, and which is insoluble in organic solvents)
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGGGGWUUPGPUR
Tomco UK Press coverage
Daily Mail (UK) 19th Oct 2011
Highly speculative Isle of Man-based Tomco Energy soared 0.48p or 43 per cent to 1.6p on heavy turnover amid strong rumours that Redleaf Resources, its partner in Utah, has signed a significant deal with a major oil company, possibly Total. TomCo has a licence agreement with Redleaf allowing it to use its EcoShale technology and so dealers hope it could be next in line to tie up a deal with an industry leader.
Read more: http://www.thisismoney.co.uk/money/markets/article-2050688/MARKET-REPORT-Skyepharma-jam-asthma-drug.html#ixzz1bFhTEDFD
Holding(s) in Company
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TIDMTOM
RNS Number : 2398P
TomCo Energy PLC
30 September 2011
TomCo Energy Plc
("TomCo" or "the Company")
Holding(s) in Company
TomCo Energy plc (AIM: TOM), the AIM listed company with oil shale assets in the State of Utah, USA, has been informed that Douglas Wright holds, directly and indirectly, an aggregate of 56,692,382 ordinary shares in the Company representing 4.32% in the share capital of the Company.
Contact:
Stephen Komlosy CEO TomCo 020 7766
0078
Nomad
Tom Price/Petre Norton Westhouse Securities 020 7601
6100
Financial PR
Laurence Read/Richard Threadneedle Communications 020 7653
Gotla 9855
Tomco Energy (London AIM Market "TOM") tipped in Investors Chronicle 8th Sep 2011
Is oil shale the next energy game-changer?
Created: 8 September 2011
Written by: Rachael Boraston and Martin Li
Peak oil remains the subject of great debate but there is little doubt we have reached the peak for cheap oil. It is becoming increasingly difficult and expensive to extract enough conventional oil to maintain global output at its current level of around 87m barrels a day.
Technological advances have transformed the natural gas market through the development of horizontal drilling and fracture stimulation, which releases gas from tightly-held shale reservoirs. It is hoped that new technology could similarly transform oilshale into a plentiful source of liquid fuels.
Oilshale is a sedimentary rock that contains kerogen, an 'immature' oil that hasn't been subjected to enough temperature and pressure to convert fully into hydrocarbons. Geologists believe there could be three trillion barrels of oilshale globally, which would dwarf the 1.5 trillion barrels of remaining oil reserves. Oilshale is not a new discovery; it has been mined extensively in countries such as Brazil, China, Estonia and Russia. However, extracting the fuel has historically been costly and environmentally harmful.
Retorts and in-situ are the traditional techniques for extracting oilshale. The retorts technique mines the shale then heats it to extract oil. This is problematic due to the high carbon dioxide output and high capital cost. The in-situ process involves heating oilshale underground using electric probes. But it can take two to three years to reach optimum temperature and there is also the potential for oil pollution into the surrounding area.
In an evolution of these processes, TomCo Energy plans to use an in-capsule "EcoShale" technology that combines surface mining with sub-surface retorts. The process uses a clay capsule where waste can be contained and recycles excess gas to speed up the heating process. EcoShale has been found to produce two-thirds lower carbon emissions than traditional retorts and, critically, can produce oil at a competitive $40 a barrel.
--------------------------------------------------------------------------------
IC VIEW:
TomCo’s licences hold the potential for 230m barrels of oil and the company is developing a 9,500 barrels per day commercial production facility. First oil is targeted for 2014 (Red Leaf Resources, which developed the EcoShale process, is looking to be in production even sooner) and, if successful, this technology could prove a game-changer for oilshale.[color=red][color=red][/color][/color]
Source:
http://www.investorschronicle.co.uk/Companies/ByEvent/TradingTechniques/Analysis/article/20110908/03b408b0-da14-11e0-ba93-00144f2af8e8/Is-oil-shale-the-next-energy-gamechanger.jsp?utm_campaign=IC%2BDaily%2B-%2BFree&utm_source=emailCampaign&utm_medium=email
Board Appointment
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TIDMTOM
RNS Number : 5357N
TomCo Energy PLC
05 September 2011
5 September 2011
TomCo Energy Plc
("TomCo" or "the Company")
Board Appointment
TomCo Energy plc (AIM: TOM), the AIM listed company with oil shale assets in the State of Utah, USA, is pleased to announce the appointment of Paul Rankine (50) to the Board as a non-executive technical director. He will give support and oversight at Board level to the technical work of TomCo in completing key technical and regulatory milestones and delivering first oil production. The company's technical staff and consultants will report to Paul at Board level.
Paul Rankine is a mining finance professional with over 24 years of mining and investment experience. He has practical experience of listing and running AIM quoted mining companies as the CEO of Zambezi Nickel Ltd (May 2005 to February 2007) and as a director of Stellar Diamonds plc. (August 2007 to October 2010). Paul has over 14 years as a mining equities financial analyst and consultant predominantly with Jp Morgan Investment Management, Citigroup Asset Management and Altima. This is supported by strong financial and analytical skills from an MBA and an MSc in Mineral Economics. In addition, he has over 10 years international mining experience in both underground and open pit mining as a professional mining engineer. Paul is a fellow of the South African Institute of Mining and Metallurgy and a member of the Society of Mining Engineers Inc. in the United States. He joined Altima Partners LLP as a Director in June 2007 to work on mining investment opportunities. Certain senior partners of Altima are substantial shareholders of TomCo with a combined holding of approximately 17%.
There are no other matters which are required to be announced as required under paragraph (g) of Schedule 2 of the AIM Rules.
Stephen Komlosy, CEO of TomCo Energy, commented: "We are delighted to have Paul join the Board as he brings significant practical and financial experience in developing resources projects to TomCo. His experience and advice will be critical to the development of our Holliday Block project, where we have an indicated resource of 123 million barrels of oil, and he will be important to the realization of our plans for a 9,500 barrels of oil a day production facility."
Paul Rankine, non-executive of TomCo added: "I am delighted to join the TomCo board and work with the Company to deliver first oil production from our Utah oil shale project. The Eco-shale process technology is now being up-scaled to commercial production levels. This break through technology, in combination with Tomco's extensive shale resources, creates very significant value potential for TomCo's shareholders. Our initial focus will be on completing a bankable feasibility study for the Holiday Block oil shale project."
Contact:
Stephen Komlosy CEO TomCo 020 7766
0078
Nomad
Tom Price/Petre Norton Westhouse Securities 020 7601
6100
Financial PR
Laurence Read/Richard Threadneedle Communications 020 7653
Gotla 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 kerogen 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.
kerogen oil: a synthetic oil derived from the heating of kerogen (a complex mixture of organic chemical compounds, present in sedimentary rocks, and which is insoluble in organic solvents)
This information is provided by RNS
The company news service from the London Stock Exchange
END
Tomco award contracts . Latest news
http://www.rigzone.com/news/article.asp?a_id=110422
Tomco Utah Development on Tea Party web site
teapartycourier.com/2011/08/huge-oil-shale-development-begins-%E2%80%9Ctomco-energy-is-a-london-based-company-which-owns-leases-on-ove%E2%80%A6/
Hi, do you know the UK share count and what ratio to use to calculate the TMCGY price, and whether it will trade come to that?
Cheers
Tomco Energy Listing commences 21st July
TomCo Energy Plc is a London based, public company with oil shale assets in the State of Utah, USA.
•100% interest in 2 State leases (7 blocks) covering 2,918 acres (4.6 sq miles), in the Uinta Basin, Utah. Estimated by SRK Consulting to contain some 230m barrels of oil.
•123 MM bbl of shale oil resources ('Indicated Mineral Resource') on TomCo's Holliday Block Lease acreage.
•Additional resources on the other Lease
•Holliday Block will be developed using innovative EcoShaleTM technology.
•ca 80 million barrel development project over 20 years.
•Technology demonstrated in pilot operation.
•Breakthrough license agreement signed in March 2010 with Red Leaf Resources Inc for the use of EcoShaleTM 'in-capsule' technology (see deleted Patent Pending) on TomCo leases.
•Experienced Management Team.
Tomco Energy raise £3.5 Million
Friday 8th July 2011
TOMCO ENERGY PLC (the "Company")
Results of Placing & Open Offer
TomCo Energy PLC announces:-
· Further to the announcement of 1st July 2011 regarding the Placing & Open Offer dated 26th April 2011, the Company raised a total of £3,538,268 before expenses and 353,826,804 ordinary shares in the Company were subscribed for at 1p per share.
· Use of proceeds
· Engineering and development design studies for a 9,000 to 10,000 bopd EcoShaleTM plant at Holliday Block, drawing on engineering work undertaken by Red Leaf Resources Inc for their Seep Ridge Project, Road Access, water use, energy and power supply studies.
· Environmental baseline surveys of the Holliday Block area, including biological, cultural, archaeological, water resource and air quality assessments, and the initiation of necessary State and Federal permitting.
· Corporate and administration costs (including repayment of short term loan).
· Preparations for the reintroduction of the Company's shares to trading on AIM are well advanced and the Company will make an announcement in this regard shortly.
Web Site: www.tomcoenergy.com
Contact:
Sir Nicholas Bonsor TomCo 0207 766 0078
Laurence Read Threadneedle Communications 0207 653 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.
Around 124 million barrels of TomCo's total resource lie on the Holliday Block lease. The main tract of TomCo's Holliday Block lease has around 123 million barrels of 'Indicated Resources', which could potentially sustain a 9,500 barrels of oil per day (bopd) production facility for over 20 years.
TomCo has entered into a License with Red Leaf Resources Inc (Red Leaf), which owns the EcoShaleTM extraction process (EcoShale), to use this unique and environmentally sensitive technology to extract oil from TomCo's leases.
Red Leaf has developed the EcoShaleTM In-Capsule Technology to produce high quality liquid transportation fuels from oil shale using an environmentally sensitive process. The technology requires no process water, and actually produces water; it protects groundwater and vegetation, uses relatively low temperatures for heating and allows for rapid site reclamation. The resultant product is a high quality feedstock with an average 34o API and no fines. The process also results in synthetic natural gas production allowing for a strong contribution to energy requirement at the plant.
Red Leaf is planning a 9,500 bopd commercial operation to be in production by 2013 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 9500 bopd project to Seep Ridge using the EcoShale technology.
This information is provided by RNS
The company news service from the London Stock Exchange
TomCo is making its return to AIM, after a two-year absence from the market.
Now refinanced thanks to a successful placing and open offer, the company hopes to develop two oil shale licences in the USA. Independent engineer SRK has estimated some 230m barrels of recoverable oil within TomCo’s acreage,
for which the company has proposed a staged development using technology called ‘EcoShale’, licensed from Red Leaf Resources.
It is hoped that first production will occur by 2014. As Red Leaf prepares for development on its own site nearby, following a successful pilot, news flow from both camps could serve as a driver for the stock. This is an unconventional resource
development, so not without its risks, but the rewards could be significant.
Accordingly, the shares are rated a Speculative Buy.
• TomCo has licensed Red Leaf’s EcoShale technology to exploit its near-3,000acre licenses held on the highly prospective oil shale of the Green River
Formation in Utah.
• The ‘Holliday Block’ alone is considered by SRK to hold some 123m barrels of recoverable oil. Overall, the company has claimed a net present value (at a
10% discount rate) of US$500m, rising to US$1bn on production.
• The plan is to develop a 9,500 barrels of oil per day production facility with a 20-year life. First oil is slated for 2014, dependent on Red Leaf’s progress.
• EcoShale is said to offer an efficient solution for the extraction of shale oil in an environmentally responsible manner. There are competing technologies,
some being used by the majors, but TomCo believes EcoShale is the most appropriate for its target resources.
• TomCo has the financial backing of mining entrepreneur Chris Brown, who
founded and grew London Mining into a multi-million-pound enterprise,before leaving its board in 2009.
• As the USA imports the majority of its oil from overseas, the directors see an increasing internal lobby for development of previously untapped domestic
resources.
• The company has just raised £3.5m in a Placing and Open Offer at 1p per share in order to repay loans and provide working capital.
Tomco Energy to relist 19th July
HB markets has a report TOMCO its stock of the day. speculative buy.
http://www.hbmarkets.com/tomcoenergy070711/
TomCo raises re-float funds
1st July 2011 Robert Tyerman
As foreshadowed here, US oil shale hopeful TomCo Energy has secured more than £3 million at 1p ahead of its return to AIM. Backed by Chris Brown, founder of AIM-quoted London Mining, the company had been hoping for up to £3.5 million and has obtained more than its £3 million minimum target to develop 3,000 acres in Utah's Green River shale formation.
TomCo, which quit AIM two years ago after its previous Israeli prospects became mired in disputes, says SRK Consultants has estimated its Urah leases could hold up to 230 million barrels of potentially recoverable oil, with about 124 million barrels in its Holliday Block lease. Chaired by former Tory politician Sir Nicholas Bonsor, the company has a licence from Red Leaf Resources to use its proprietary EcoShale extraction process to extract oil from its leases.
According to TomCo, preparations for its return to AIM are 'well advanced'. Its shares could be well received this time around.
http://www.growthcompany.co.uk/news/1634093/tomco-raises-refloat-funds.thtml
Tomco Energy (TOM)due to be relisted on London SE (AIM) on 13th July. Date to be confirmed.
Company raised £3m+ in a placing.
Exciting developments ahead in Oil Shale developments in UTAH. See Red Leaf Resources.
Tomco Energy have new directors and experienced (in mining) new investors. Christopher Brown Ex CEO London Mining is a new 26% shareholder. Chairman is also director of London Mining, and the new FD has worked with Chris Brown in the past.
Also see associated company AVENUE (AVNU)
EXCITING times ahead.[/b]
I will be keeping this BB up to date with developments in the UK
s
TOMCO AIM RELIST DOCUMENT
Tuesday 17 May, 2011
AIM
Schedule 1 - TomCo Energy plc
RNS Number : 7629G
AIM 17 May 2011
ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")
COMPANY NAME:
TomCo Energy plc
COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :
2nd Floor
Sixty Circular Road
Douglas
Isle of Man IM1 1SA
COUNTRY OF INCORPORATION:
Isle of Man
COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:
www.tomcoenergy.com
COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:
TomCo Energy plc is the parent company of a group focused on the development and future production at the Company's oil shale project in the state of Utah, USA. The Group intends to use the EcoShale™ In-Capsule Process, an innovative technology developed by Red Leaf Resources Inc, to extract oil from its Oil Shale Leases, which comprise of approximately 2,919 acres within the Uinta Basin, where oil shale resources are widely developed within sedimentary rocks of the Green River Formation.
SRK Consulting, the Competent Person whose full report will be set out in the Admission Document, estimate that TomCo's lease located on the so-called Holliday Block, contains an Indicated Mineral Resource as defined by the JORC Code, of approximately 123 million bbl, which have the potential to be exploited using the EcoShale™ In-Capsule Process.
DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):
Up to **** ordinary shares of 0.5 pence each (TBA)
CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:
N/A - Introduction - Market cap. TBA
PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:
TBA
DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES (INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED:
N/A
FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):
Sir Nicholas Bonsor Bt DL (Non-Executive Chairman)
Stephen Anton Komlosy (Chief Executive Officer)
Mikka Haromo (Finance Director)
John Joseph May FCA (Director & Secretary)
Paul Martyn Hughes (Non-Executive Director)
Proposed Director: Nicholas (Nick) John Roseveare Wright (Chief Operating Officer)
FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):
Before Admission
Name
Number of Shares
Percentage
Kenglo One Limited
200,000,000
26.33
Mr John P Ryan
46,000,000
6.06
Barclayshare Nominees Limited
41,572,264
5.47
Hanover Nominees Limited
35,050,000
4.61
Ashdale Investment Trust Services Limited
31,887,632
4.20
TD Waterhouse Nominees (Europe) Limited
31,470,448
4.14
HSBC Global Custody Nominee (UK) Limited
25,844,059
3.40
After Admission
TBA
NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:
N/A
(i) ANTICIPATED ACCOUNTING REFERENCE DATE
(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)
(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:
i) Financial year end : 30 September.
ii) The financial information in the admission document is prepared to 30 September 2010.
iii) 2011 interims - by 30 June 2011;
2011 finals - by 31 March 2012;
2012 interims - by 30 June 2012.
EXPECTED ADMISSION DATE:
31 May 2011
NAME AND ADDRESS OF NOMINATED ADVISER:
Westhouse Securities Limited
One Angel Court
London EC2R 7HJ
NAME AND ADDRESS OF BROKER:
Westhouse Securities Limited
One Angel Court
London EC2R 7HJ
OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:
A copy of the admission document containing full details of the applicant and the admission of its securities will be available at the Company's website, www.tomcoenergy.com.
DATE OF NOTIFICATION:
17 May 2011
NEW/ UPDATE:
New
Nice job Steph. Keep up the good work, keeping everyone informed.
Oil Shale UTAH - Tomco Energy (L-TOM)
Avenue (AVNU) own 12m shares in Tomco.
Tomco Energy shares are due to be relisted on the London AIM market on 31st May 2011.
Exciting times ahead.
Subject to your location, TOMCO are having an open offer / pre IPO placing in TOMCO ENERGY shares at 3p each. Offer closes 19th May 2011.
Check out the details at www.tomcoenergy.com for further details.
Christopher Brown former (very successful)CEO of LONDON MINING (L-LOND)is a exciting new 26% shareholder in Tomco Energy.
The shares were previously available in the US via ADR
If you are interested in the development of OIL SHALE in the US then it is well worth a visit to www.tomcoenergy.com
Of course please do your own research
s
stephanie.speculator@gmail.com
Oil Shale Development in UTAH using ECOSHALE process.
Tomco Energy have exciting new plans for the development of Oil Shale in UTAH
Tomco Energy Oil Shale Development in UTAH
See presentation at www.tomcoenergy.com
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1st Dec 2011
Read this very important link (cut n paste if necessary)
http://wiki.advfn.com/en/TomCo_Energy#Ecoshale_Benefits
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