TomCo Energy PLC Approval of Ground Water Discharge Permit (3392T)
17 July 2015 - 4:00PM
UK Regulatory
TIDMTOM
RNS Number : 3392T
TomCo Energy PLC
17 July 2015
17 July 2015
TomCo Energy plc
("TomCo" or the "Company")
Holliday Block Fully Permitted
Approval of Ground Water Discharge Permit and Construction
Permit
TomCo Energy plc (AIM: TOM), the oil shale exploration and
development company focused on using innovative technology to
unlock unconventional hydrocarbon resources, is pleased to announce
that further to the statement made by the Company on 5 February
2015, the Utah Division of Water Quality ("DWQ") has issued TomCo
with a Ground Water Discharge Permit ("GWDP") and a Construction
Permit ("CP"). After successfully securing its Large Mining
Operation permit from the Utah Division of Oil, Gas & Mining in
February 2015, TomCo has now received all necessary major permits
from the various Utah State departments to take the Company's
Holliday Block into development and production.
TomCo has agreed with environmental group Living Rivers only to
commence full-scale development of its Holliday Block at such time
as the result of Red Leaf Resources Inc's ("Red Leaf") nearby Early
Production System capsule is known.
Miikka Haromo, CFO commented:
"The approval of the Ground Water Discharge Permit and the
Construction Permit is a major milestone for TomCo, as we now have
the same major Utah State permits currently held by Red Leaf. This
paves the way for our Holliday Block to move into full development.
We now eagerly wait for the results of Red Leaf's nearby Early
Production System capsule."
Enquiries:
For further information, please visit www.tomcoenergy.uk.com or
contact:
TomCo Energy plc Tel: +44 20
7917 6822
Miikka Haromo, CFO
Shore Capital (Nomad & Broker) Tel: +44 20
7408 4090
Nominated Adviser
Pascal Keane / Edward Mansfield
Corporate Broking
Jerry Keen
Tavistock Communications (Financial Tel: +44 20
PR & IR) 7920 3150
Ed Portman / Jos Simson
Notes to Editors:
TomCo Energy plc (AIM: TOM) is a London based, AIM-listed
company, with substantial Oil Shale assets in Utah, USA.
TomCo holds a 100% interest in two Oil Shale leases, comprising
5 blocks covering 2,919 acres in Uintah County, Utah. Independent
natural resources consultants SRK Consultants Ltd, part of the
internationally recognised SRK Group, has declared a surface
mineable JORC compliant Measured Resource of 126 million barrels on
TomCo's 1,186 acre Holliday Block lease.
The Company has entered into a licence agreement with Red Leaf
Resources Inc ("Red Leaf") for the use of their EcoShale(TM)
In-Capsule Process, a proven and environmentally sensitive
technology, to extract Oil from TomCo's leases.
Additionally, 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.
Led by a highly experienced management team, 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 9,800 bopd.
Glossary:
bopd: barrels of oil per day
JORC Code: The mineral resource classification code devised by
the Australasian Joint Ore Reserves Committee
This information is provided by RNS
The company news service from the London Stock Exchange
END
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