TomCo Deepens Valkor Alliance, Restructures Debt and Raises £550,000

TomCo Energy ( (GB:TOM) ) has shared an update.

TomCo Energy has deepened its relationship with technical partner Valkor LLC by granting it a 50% stake and joint control in Greenfield Energy, aligning the parties to jointly exploit Greenfield’s leased oil-sands acreage in Utah and associated technologies. The revised operating agreement sets out mutual drilling rights, targeted well costs, and an 18‑month option for TomCo to pursue a mined oil-sands separation plant on its lease once Valkor’s neighbouring plant reaches commercial production, potentially de‑risking future development for TomCo.

Alongside the renewed partnership, Valkor has amended its long‑standing loan to Greenfield, agreeing to convert roughly half of the $799,500 amended outstanding balance into TomCo equity at a premium to the market and to adjust repayment terms on the remainder. TomCo also plans to appoint Valkor founder Steven Byle as a non‑executive director and has raised £550,000 via a placing and subscription to bolster working capital, moves that collectively strengthen its balance sheet, governance and strategic positioning in Uinta Basin oil‑sands development.

More about TomCo Energy

TomCo Energy is a U.S.-focused oil development group listed on AIM that targets unconventional hydrocarbon resources in Utah’s Uinta Basin. Working through its Greenfield Energy subsidiary, the company aims to deploy innovative drilling and oil-sands separation technologies to monetise leased oil-sands acreage and adjacent hydrocarbon prospects.

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Technical Sentiment Signal: Sell

Current Market Cap: £2.16M

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