Investment in Oil Wells

15 Feb 2007 07:01

TomCo Energy PLC15 February 2007 TomCo Energy Plc ("TomCo" or "the Company") TomCo Energy Plc to Participate in Five Well Tennessee Program TomCo (TOM.L) is pleased to announce that it has contracted for a 20 per cent.working interest in a five well drilling program in Overton and Fentresscounties in the State of Tennessee, USA. The Company's interest in the fiveprospects was purchased for $160,000 of drilling and completion costs. TheCompany may contribute to further, as yet not detailed, costs in this program.The operator of the drilling program is TN OIL Company Inc. ("TN OIL"). TN OIL, which is drilling and completing the wells on a turnkey basis, istargeting multiple prospective pay horizons, the deepest being the KnoxFormation at approximately 1800 feet of total depth. Drilling at the first ofthe prospects is expected to commence shortly, and details of drilling results atthe five prospects will be announced as soon as they become available. This announcement has been reviewed by Lucius C. Geer, a "qualified person" forthe purposes of the AIM Rules. Mr. Geer is a longtime member of The Society ofIndependent Professional Earth Sciences #408 (SIPES), and is the senior partnerof Lucius C. Geer & Associates, an independent firm of consulting Geologists andGeophysicists based in Houston, Texas. For further information, please contact: Netcentric Systems PlcStephen Komlosy Tel: (020) 7808 4857 Strand Partners LimitedSimon Raggett Tel: (020) 7409 3494Warren PearceThomas Lockyer Bankside ConsultantsSimon Rothschild Tel: (020) 7367 8888Louise Mason This information is provided by RNS The company news service from the London Stock Exchange