TomCo Energy PLC (AIM:TOM, OTC:TMCGF) has asked for an extension to the deadline for its subsidiary, Greenfield Energy, to acquire the remainder of the Tar Sands Holdings II membership interests.
Greenfield owns a 10% membership interest in TSHII and can acquire the remaining 90% for US$16.25mln, an option that was scheduled to expire on 30 April 2023
Discussions with the counterparty are underway over a further extension to the exercise period, said the statement.