TomCo the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, announces that its wholly owned subsidiary, AC Oil LLC ("AC Oil"), is party to an application made yesterday to the Utah Division of Oil, Gas and Mining for permitting to drill six holes on its lease area near Vernal, Utah.
Subject, inter alia, to the relevant drill permits being granted, and sufficient financing being available, TomCo is currently intending and preparing to participate alongside its partners in potential drilling on the AC Oil lease acreage during 2025.
The Company will provide a further update as this initiative develops in due course.