Energy News Today

TomCo Energy PLC says it is not aware of any reason for recent share price rise



The oil shale explorer said it is currently working with JV partner Valkor to finalise planned upgrades to the Petroteq Energy existing oil sands plant in Utah

() said it is not aware of any reason for a recent increase in its share price, saying it is currently working with the joint venture partner Valkor to finalise planned upgrades and a proposed work programme to the Petroteq Energy existing oil sands plant (POSP) at Asphalt Ridge in Utah.

The oil shale explorer said it believes it will take around three months to complete the upgrade works to the POSP, with the test programme expected to take a further four to six weeks, with third party verification of the process to then be undertaken following the testing.

WATCH: TomCo Energy: Analyst highlights attractive economics of a new oil sands separation technology

TomCo added that it has received notice of exercise of warrants by Novum Securities Ltd, the company’s joint broker, to subscribe for a total of 18.37mln new ordinary shares that will be issued at a price of 0.4p each and relate to warrants issued as part of a placing on July 2.

The firm’s shares were 17.2% higher at 0.85p in late-afternoon trading on Friday.

Add related topics to MyProactive

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…

In exchange for publishing services rendered by the Company on behalf of TomCo Energy plc named herein, including the promotion by the Company of TomCo Energy plc in any Content on the Site, the Company receives from…

FOR OUR FULL DISCLAIMER CLICK HERE



Read More: TomCo Energy PLC says it is not aware of any reason for recent share price rise

2020-07-10 14:18:00

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy
%d bloggers like this: