TomCo Energy PLC
04 June 2007
TomCo Energy Plc
('TomCo' or 'the Company')
Acquisition of an Interest in an Oil Lease in Lane County, Kansas
TomCo today announces that it has acquired a 15 per cent. working interest in an
oil lease, the JELP 111 lease ('JELP') in Lane County, Kansas, comprising
approximately 400 acres. The interest in the lease was acquired in a private
sale for a total cash consideration of $30,000.
It is intended that the initial well will commence drilling within 60 days, to a
projected depth sufficient to adequately test the Lansing-Kansas City 'M' Zone
Formation at approximately 4320 feet measured depth. There will be opportunities
to drill up to 3 offsetting wells, if the initial well is commercially successful,
with SEDONA Oil & Gas Corporation acting as the operator. TomCo has a 15 per
cent. interest in the 80 per cent. net revenue interest after landowner
royalties.
Based upon offsetting oil production from the targeted reservoir, the Company
considers the wells proposed as low risk locations, with anticipated initial
production rates of 20 barrels per day per well if successful.
For more information contact:
TomCo Energy Plc Tel: +1 509 301 6322
Howard Crosby
Strand Partners Limited Tel: (020) 7409 3494
Simon Raggett
Warren Pearce
Thomas Lockyer
Bankside Consultants Tel: (020) 7367 8888
Simon Rothschild
Louise Mason
Notes:
TomCo is an AIM listed company which continues to actively develop a
conventional oil production profile in the South-Western United States. The
Company also owns leases on approximately 3000 acres of shale oil holdings in
Utah, estimated by SRK (an independent firm of mining consultants) to contain
some 230 million barrels of oil.
This announcement has been reviewed by Lucius C Geer, a qualified person for the
purposes of the AIM Rules. Mr Geer is a long time member of The Society of
Independent Professional Earth Sciences (SIPES), and is the senior partner of
Lucius C Geer & Associates, an independent firm of consulting geologists and
geophysicists based in Houston, Texas
This information is provided by RNS
The company news service from the London Stock Exchange