leadf
logo-loader
RNS
viewTomCo Energy plc

TomCo Energy PLC - Greenfield Update

RNS Number : 2382X
TomCo Energy PLC
26 August 2020
 

26 August 2020

 

TOMCO ENERGY PLC

("TomCo" or the "Company")

 

Greenfield Update

 

TomCo Energy plc (AIM: TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, is pleased to note the announcement earlier today by Petroteq Energy Inc ("Petroteq"), which provides an update to Petroteq's shareholders in respect of information that has already been announced by the Company in respect of Greenfield Energy LLC ("Greenfield"), the Company's recently formed 50/50 joint venture with Valkor LLC ("Valkor"), and the proposed upgrades to be made by Greenfield to Petroteq's existing oil sands plant at Asphalt Ridge, Utah (the "POSP") pursuant to the work order.

 

The Company confirms that good progress is being made in respect of the proposed upgrades to the POSP, which included finalising the commercial trial agreement with Quadrise Fuels International plc announced on 18 August 2020, and the Company looks forward to providing an update to shareholders on such progress in the coming weeks.

 

In addition, the Company also notes the recent appointment of George Stapleton as Petroteq's new Chief Operating Officer and we very much look forward to working with him going forward.  George brings over 40 years' experience in all aspects of design, construction, fabrication and project management for onshore and offshore plant and energy infrastructure related projects.  He spent over 20 years of his career with McDermott, Inc., a premier international engineering, construction and procurement firm and was a director of E-T Energy Ltd from 2003-2017, where he was responsible for the definition and development of a pilot programme to prove the application of patented environmental remediation technology to the production of bitumen from shallow Athabasca oil sands and managed the design and construction of surface production facilities.

 

Enquiries:

 

TomCo Energy plc

Stephen West (Chairman) / John Potter (CEO)                        +44 (0)20 3823 3635

 

Strand Hanson Limited (Nominated Adviser)

James Harris / Richard Tulloch / Jack Botros                            +44 (0)20 7409 3494

 

Turner Pope Investments (TPI) Limited (Joint Broker)

Andy Thacker / Zoe Alexander                                                    +44 (0)20 3657 0050

 

Novum Securities Limited (Joint Broker)

Charlie Brook-Partridge                                                                 +44 (0)20 7399 9402

 

IFC Advisory Limited (Financial PR)

Tim Metcalfe / Graham Herring                                                   +44 (0)20 3934 6630

 

For further information, please visit www.tomcoenergy.com.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UPDFLFVFTIIRFII

Quick facts: TomCo Energy plc

Price: 0.55

Market: AIM
Market Cap: £3.7 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

TomCo Energy: Analyst highlights attractive economics of a new oil sands...

Proactive Research analyst Ed Stacey takes a look at TomCo (LON:TOM) following the news of a joint venture to help unlock the potential for oil sands development using an innovative new production technology. TomCo's an oil & gas exploration and production company which operates in the...

on 9/7/20

3 min read