News blog
TomCo Energy
- BY: Andrew Hore |
- POSTED: 11/08/2009 |
TomCo Energy’s Aim quotation will be cancelled on the morning of 12 August 2009.
The shares were suspended on 11 February 2009 at 0.35p each, which valued TomCo at £1.88m. Six months has passed and the financial position of the company has still not been clarified sufficiently. TomCo still has not published its results for the year to September 2008, or the subsequent interim figures.
Management is seeking ways of developing its oil shale activities in Utah. The technology to extract oil from oil shale is still being perfected so it will be some years before these licences start to generate revenues. TomCo will have to raise money to do this and it may even combine this with a corporate transaction.
TomCo has not mentioned what it intends to do with its Israeli oil production assets.
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