Company Announcements

24 April 2023

TOMCO ENERGY PLC

("TomCo" or the "Company")

Drawdown of Tranche One of Convertible Loan Note Facility and Issue of Associated Warrants

TomCo Energy plc (AIM: TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, announces, further to the Company's announcement of 30 March 2023, that it has served notice to drawdown the initial £250,000 tranche ("Tranche One") of its £1,000,000 Convertible Loan facility, with the funds expected to be received on or around Wednesday, 26 April 2023.

In accordance with the terms of the facility, the Convertible Loan subscribers will be issued with, in aggregate, 41,666,667 Warrants by the Company in connection with the drawdown of Tranche One, exerciseable for a period of three years from the date of drawdown, with each warrant affording the holder the right to subscribe for one new Ordinary Share at an exercise price of 0.60 pence per share.

In addition, Novum Securities Limited, the Company's broker, will be issued 10,000,000 warrants, with each such warrant affording the right to subscribe for one new Ordinary Share at an exercise price of 0.60 pence per share for a period of two years from the date of drawdown of Tranche One.

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the Company's announcement of 30 March 2023.

Enquiries:

For further information, please visit www.tomcoenergy.com.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.