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.
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Contact: |
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Paul Rankine, CEO |
TomCo |
020 7766 0078 |
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Nomad and Broker |
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Alastair Stratton / Oliver Cardigan (Nomad) James Black (Broker) |
Numis Securities |
020 7260 1000 |
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Financial PR |
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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
This information is provided by RNS