Business
Drilling Programme
Drilling Programme.
About this update from Tomco Energy Plc
[{"type":"text","content":"\n TomCo Energy PLC\n11 December 2007\n\n\n\n TomCo Energy Plc ('TomCo' or the 'Company')\n\nTomCo (TOM.L) is pleased to announce an agreement with Mark III Energy Holdings\nLLC, its 50 per cent. joint venture partner at the Abel leases on the Hull Salt\nDome oil field, Liberty County, Texas, and at the Saratoga leases on the\nSaratoga Salt Dome oil field, Hardin County, Texas. The agreement has the\nobjective of drilling up to six new production wells after a comprehensive\nProduction Optimization Study has been completed. The study will build on\nprevious reports and studies and develop a better understanding of the oil\nbearing sands. The study will be used by the joint venture to generate\neconomically attractive forward programmes to increase current oil production\nfrom these leases.\n\nThe Hull and Saratoga Salt Dome oil fields are located in East Texas where\nnumerous similar oil fields have been developed over the last eighty years.\nThese oil fields have characteristically had multiple oil bearing reservoirs and\nexcellent reservoir characteristics.\n\nTomCo has instructed GeoExperts, a Houston based Consultancy Company, to carry\nout the Production Optimization Study of the two leases, with an estimated\ncompletion date in the First Quarter 2008. GeoExperts will also report on the\nviability of drilling a water disposal well which can be commercially exploited\nwith other producers in the area in addition to joint venture use.\n\nHoward Crosby CEO said:\n'This programme, to increase our production at these two leases represents an\nopportunity to fully exploit these assets and cement our relationship with a\nwell known fast growing local oil operator with whom we are also examining a\nnumber of other potential oil propositions.'\n\nThis announcement has been read and approved by GeoExperts of Houston, Texas,\nUSA an independent firm of Geologists.\n\nEnquiries:\n\nTomCo Energy Plc +44 (0)20 7808 4857\nStephen Komlosy\n\nStrand Partners Ltd. +44 (0)20 7409 3494\nWarren Pearce\n\nBankside Consultants Ltd. +44 (0)20 7367 8888\nSimon Rothschild\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2313,"tagName":"div"}]