REG - TomCo Energy PLC - Board Update

Wed Jul 11, 2012 11:37am EDT

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RNS Number : 4725H
TomCo Energy PLC
11 July 2012
 



11 July 2012

TomCo Energy Plc

("TomCo" or "the Company")

 

Board Update

 

Cassidy Gold Corp. (TSX-V) announced on 10 July 2012 that Sir Nicholas Bonsor has resigned as a director and as the Chair of Cassidy's Board and Paul Rankine has resigned as a director and the President and Chief Executive Officer. Accordingly Paul is now the full-time CEO of TomCo.

 

 

Contact:


 

 

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


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