Tomco Energy (TOM)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

 0.028p
   
  • Change Today:
      0.000p
  • 52 Week High: 0.095p
  • 52 Week Low: 0.028p
  • Currency: UK Pounds
  • Shares Issued: 3,904.14m
  • Volume: 482,100
  • Market Cap: £1.07m
  • RiskGrade: 70

TomCo raises extra funds through subscription, Red Leaf disposal

By Josh White

Date: Tuesday 30 Oct 2018

LONDON (ShareCast) - (Sharecast News) - Oil shale exploration, development and technology group TomCo Energy has raised £0.1m through the subscription of 1,176,471 new ordinary shares of no par value with an existing shareholder, at a price of 8.5p share, it announced on Tuesday.
The AIM-traded firm had also agreed, conditional upon receipt of funds, to dispose of its entre interest in Red Leaf Resources for a total consideration of $0.13m.

Following delays in the development of Red Leaf's 'EcoShale' technology and Total E&P USA Oil Shale's decision in 2016 not to proceed with its early production system, TomCo said it had made a full impairment against its interest in Red Leaf during the financial year ended 30 September 2017, and as a result, its interest in Red Leaf was held at nil.

Following the subscription and disposal, TomCo would have cash resources of about £0.34m, and thus would have sufficient funds to take it beyond the completion of the current field test on its Holliday Block in Utah, and through to late in the first quarter of 2019.

"The company will need to raise further funds for working capital, loan repayments and project development beyond that time," the TomCo board said in its statement.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Tomco Energy Market Data

Currency UK Pounds
Share Price 0.028p
Change Today 0.000p
% Change 0.00 %
52 Week High 0.095p
52 Week Low 0.028p
Volume 482,100
Shares Issued 3,904.14m
Market Cap £1.07m
RiskGrade 70

Tomco Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
51.34% above the market average51.34% above the market average51.34% above the market average51.34% above the market average51.34% above the market average
47.22% above the sector average47.22% above the sector average47.22% above the sector average47.22% above the sector average47.22% above the sector average
Price Trend
88.98% below the market average88.98% below the market average88.98% below the market average88.98% below the market average88.98% below the market average
79.49% below the sector average79.49% below the sector average79.49% below the sector average79.49% below the sector average79.49% below the sector average
Income Not Available
Growth Not Available

Tomco Energy Dividends

No dividends found

Trades for 31-Oct-2024

Time Volume / Share Price
11:02 470,000 @ 0.029p
08:12 4,100 @ 0.030p
08:12 8,000 @ 0.030p

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