16 May 2023

TOMCO ENERGY PLC

("TomCo" or the "Company")

Partial Conversion of Tranche One of the Convertible Loan Note Facility

and Issue of Equity

TomCo Energy plc (AIM: TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, announces that the Company has received a conversion notice from certain Convertible Loan subscribers to convert £200,000 principal amount of the initial £250,000 tranche of the Convertible Loan and the associated interest of £10,000 (5%), into new ordinary shares of no-par value in the capital of the Company ("Ordinary Shares"). Following this conversion, there is £50,000 principal amount outstanding under the Convertible Loan facility, full details of which were set out in the Company's announcement of 30 March 2023.

The conversion price per new Ordinary Share under the terms of the facility is the lower of: (i) 0.60 pence; and (ii) the volume-weighted average price of an Ordinary Share during any five of the fifteen business days prior to service or deemed service of a conversion notice, as selected by the noteholder concerned and sourced from Bloomberg L.P., discounted by 15%.  Accordingly, the conversion price has been determined to be 0.16133 pence per new Ordinary Share such that the conversion will result in 130,167,978 new Ordinary Shares being issued to the subscribers concerned (the "Conversion Shares").

Admission to trading

Application will be made to the London Stock Exchange for the 130,167,978 Conversion Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the Conversion Shares on AIM will commence at 8.00 a.m. on or around 22 May 2023.

Total Voting Rights

On Admission, the Company's issued share capital will consist of 2,374,672,947 Ordinary Shares, each with one voting right.  There are no shares held in treasury. Therefore, the Company's total number of Ordinary Shares and voting rights will be 2,374,672,947 and this figure may be used by shareholders following Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Capitalised terms not otherwise defined in this announcement have the same meanings as ascribed to them in the Company's announcement of 30 March 2023.

Enquiries:

TomCo Energy plc

Malcolm Groat (Chairman) / John Potter (CEO)                        +44 (0)20 3823 3635

Strand Hanson Limited (Nominated Adviser)

James Harris / Matthew Chandler                                                +44 (0)20 7409 3494

Novum Securities Limited (Broker)

Jon Belliss / Colin Rowbury                                                            +44 (0)20 7399 9402

IFC Advisory Limited (Financial PR)

Tim Metcalfe / Florence Chandler                                                +44 (0)20 3934 6630

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. .