TomCo Energy plc is a UK based company quoted on the AIM Market of the London Stock Exchange. The Company is focused on the development of its substantial 100% owned oil shale assets located in the prospective Green River Formation in the US state of Utah.
TomCo owns two leases that comprise 5 blocks and cover 2,919 acres and on the Company’s main block, Holliday, an independent natural resources consultant has declared a surface mineable JORC compliant Measured Resource of 126 million barrels.
Paul Rankine, chief executive officer of the oil shale exploration and development company TomCo, said there is light at the end of the tunnel for the company as it moves towards completion of the permitting process in Utah. He tells Proactive Investors that the permits should be "done and dusted" by October, unless an objection arises "out of left field". He also explains why the company should not be confused with fracking shale oil companies, as it is using the EcoShale™ in-capsule process, pioneered by Total-backed Red Leaf.
EcoShale™ animation explaining the process to be used at TomCo’s 100% owned Holliday Block
18/12/2014 18-Dec-14 Tentative approval for additional permits...Read more