4th Jun 2007 08:00
TomCo Energy PLC04 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 anoil lease, the JELP 111 lease ("JELP") in Lane County, Kansas, comprisingapproximately 400 acres. The interest in the lease was acquired in a privatesale for a total cash consideration of $30,000. It is intended that the initial well will commence drilling within 60 days, to aprojected depth sufficient to adequately test the Lansing-Kansas City "M" ZoneFormation at approximately 4320 feet measured depth. There will be opportunitiesto 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 percent. interest in the 80 per cent. net revenue interest after landownerroyalties. Based upon offsetting oil production from the targeted reservoir, the Companyconsiders the wells proposed as low risk locations, with anticipated initialproduction rates of 20 barrels per day per well if successful. For more information contact: TomCo Energy Plc Tel: +1 509 301 6322Howard Crosby Strand Partners Limited Tel: (020) 7409 3494Simon RaggettWarren PearceThomas Lockyer Bankside Consultants Tel: (020) 7367 8888Simon RothschildLouise Mason Notes: TomCo is an AIM listed company which continues to actively develop aconventional oil production profile in the South-Western United States. TheCompany also owns leases on approximately 3000 acres of shale oil holdings inUtah, estimated by SRK (an independent firm of mining consultants) to containsome 230 million barrels of oil. This announcement has been reviewed by Lucius C Geer, a qualified person for thepurposes of the AIM Rules. Mr Geer is a long time member of The Society ofIndependent Professional Earth Sciences (SIPES), and is the senior partner ofLucius C Geer & Associates, an independent firm of consulting geologists andgeophysicists based in Houston, Texas This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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