TomCo Energy PLC
28 March 2008
TomCo Energy plc
('TomCo' or 'the Company')
Placing of Equity
TomCo (AIM:TOM) is pleased to announce the additional placing of 13,333,333 new
ordinary shares of 0.5p each in the Company ('Placing Shares') at a price of
1.5p per share, to raise £200,000 (before expenses); each two new ordinary
shares placed have warrants attached to subscribe for new ordinary shares on the
terms set out below:
Strike price Term
1 2.5p 13 months
2 5.0p 13 months from the date of exercise of the first warrant
Application will today be made for the Placing Shares to be admitted to trading
on AIM. Admission is expected to become effective and dealings in the Placing
Shares commence on 3 April 2008. Following the issue of the Placing Shares the
Company's issued share capital will consist of 524,250,973 ordinary shares with
voting rights.
The aforementioned placing follows on from the previous placing of 67,066,666
new ordinary shares, on the same terms, announced on 19 March 2008 which raised
£1m (before expenses). An announcement regarding the Company's proposed
acquisition of interests in the Heletz-Kokhav and Iris oil field licenses in
Israel is anticipated in the near term.
Enquiries:
TomCo Energy Plc +44 (0)20 7808 4857
Howard Crosby
www.tomcoenergy.com
Strand Partners Limited +44 (0)20 7409 3494
Warren Pearce
Bankside Consultants Ltd. +44 (0)20 7367 8888
Simon Rothschild
Notes:
TomCo is an AIM listed company which continues to actively develop a
conventional oil production profile in the South-Western United States. The
Company also owns leases on approximately 3000 acres of shale oil holdings in
Utah, estimated by SRK (an independent firm of mining consultants) to contain
some 230 million barrels of oil.
This information is provided by RNS
The company news service from the London Stock Exchange
ASELD