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
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