On 16 Jan 2007, NCS Netcentric systems plc reversed into The Oil Company, TOM. to become the new Tomco Energy Co.................Tomco recently made a placing of 51,238,000 shares at 2.5p each to raise 1,280,950 in cash.............. Tomco also holds a 40% intrest in a well in Wichita, Texas at a cost of $56,000 for drilling and $50,000 for completion. The well is called Flusche. This well is in a very productive area and results on potential flow rates should be known within a couple of weeks................ The company also has plans for 2 or 3 other targets to be drilled in the very near future..............I bought in yesterday at 3.1p and it is still on the rise as speculation mounts.............A good chance to get in, right at the begining.

you need to ask your provider for PLUS Mkts pricing to add to your monitor.
Only available on my monitor friday.

Avenue are OTC traded just checked on their reaction to this news and sp was +118.75%.

lizard, Avenue did great on the news from Israel TOM has a lot of catching up to do.

agree.

Good news regarding TRACS report and Heletz operations via our partners Avenue Group Inc

NEW YORK, Nov 24, 2008 (GlobeNewswire via COMTEX) -- Avenue Group, Inc. (AVNU:avenue group inc com
News, chart, profile, more
Last: 0.020.00-14.89%

10:09am 11/24/2008

Delayed quote dataAdd to portfolio
Analyst
Create alertInsider
Discuss
Financials
Sponsored by:
AVNU 0.02, 0.00, -14.9%) ("Avenue") is pleased to announce the following update pertaining to the Heletz Field in southern Israel ("Heletz").
TRACS Report
Avenue is pleased to announce the outcome of the TRACS SPE compliant, independent Reserves and Resource evaluation and audit of the Heletz Field, Israel. The report covers the Cretaceous reservoirs, which form the main historical production horizon. Exploration potential in the Lower Jurassic limestone were outside the scope of the TRACS mandate and were therefore not included in the TRACS evaluation.
Based on a re-evaluation of historical production data from the field, including over 17 Million barrels of oil (bbl) produced from over 90 wells drilled since the field was discovered in 1955, TRACS calculated a mid-case (P50) original oil-in-place for the field of 94.4 Million bbl, with a range from 52.7 (P90) to 164.4 Million bbl (P10). This is a significant increase over the previously quoted figure of 50 Million bbl and reflects the TRACS view "that there is considerable remaining potential in the Heletz field."
TRACS have calculated the currently established gross field remaining recoverable reserves on a 1P (Proven reserves) and 1C basis (Contingent Resource) at 1.465 Million bbl, with 462,000 bbl being booked as P1 reserves and 1.003 Million bbl booked as C1.
The 2P reserves (Proven plus Probable) and 2C resource were calculated at 4.494 Million BO, with 974,000 bbl being booked as P1 reserves and 3.52 Million bbl booked as 2C resource.
The 3P reserves (Proved plus Probable plus Possible) and 3C resource were calculated at 10.438 Million bbl BO, with 1.87 Million bbl being booked as 3P reserves and 8.568 Million bbl booked as 3C resource.


Total Heletz Field
------------------
(in '000 of barrels)
--------------------

(1P) (2P) (3P)
Reserves (P) 0.462 0.974 1.87
Contingent Resource (C) 1.003 3.52 8.568
Total Resources (P+C) 1.465 4.494 10.438

Net Avenue Share
----------------
(in `000 of barrels)
--------------------

(1P) (2P) (3P)
Reserves (P) 0.163 0.336 .63
Contingent Resource (C) .337 1.241 3.053
Total Resources (P+C) .500 1.577 3.683


Part of the "considerable remaining potential" is the recognition of substantial additional volumes of oil in the carbonate reservoirs (e.g., the "Kokhav Dolomite") within the main Cretaceous reservoir section, through a partial waterflood of the field and through further infill drilling. Avenue believes that improved oil recovery rates may be recognized through the application of modern drilling, completion and reservoir management techniques.
Avenue continues to recognize significant exploration potential in the Lower Jurassic limestone formation below the Cretaceous reservoirs, but these targets were not included in the TRACS evaluation. Avenue is in discussion with several internationally recognized firms to commission a study on the potential for additional reserves in the Lower Jurassic limestone.
K27 Workover successfully completed
The K27 well originally went into production in November of 1986. It produced intermittently until September 3, 2008, when the well was shut-in due to low volumes. During that time, it produced approximately 15,200 barrels of oil, while production was limited both by paraffin buildup and by other mechanical issues.
Workover operations commenced on September 15 and were completed on October 6, 2008. The well was cleaned out, and known producing formations were re-perforated. It has taken several weeks to pump the drilling fluid and clean itself out and to stabilize production from the well. Avenue expects the production rate for K27 to continue to produce at a rate of 10-15 barrels of oil per day and estimated recoverable reserves of 28,600 barrels of oil.
"The TRACS report further confirms our belief in the current resource of the Heletz field and the significant potential to increase production and add reserves from a variety of plays. As the field is re-developed over the coming months, we can expect a good portion of the Resources to be upgraded to Reserves status," said Levi Mochkin, CEO of Avenue. "Furthermore, turning the non-performing K27 well into a producer via a low cost workover is illustrative of our ability to tap the significant potential of the Heletz field by reviving non-producing wells and turning them into revenue producing assets. This is good news for our company and for the State of Israel."
ABOUT AVENUE GROUP, INC.
Avenue Group, Inc. (AVNU:avenue group inc com
News, chart, profile, more
Last: 0.020.00-14.89%

10:09am 11/24/2008

Delayed quote dataAdd to portfolio
Analyst
Create alertInsider
Discuss
Financials
Sponsored by:
AVNU 0.02, 0.00, -14.9%) owns a 50% interest in the Heletz-Kokhav License and a 25% interest in the Iris License, which together encompass the Heletz oilfield. The Heletz Field, Israel's only producing oil field, was discovered in 1955 and has produced over 17 million barrels of oil to date.
Certain statements in this announcement including statements such as "believes," "anticipates," "expects" and all similar statements regarding future expectations, objectives, intentions and plans for oil and gas exploration, development and production may be regarded as "forward-looking statements" within the meaning of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made. Management's current view and plans, however, are subject to numerous known and unknown risks, uncertainties and other factors that may cause the actual results, performance, timing or achievements of Avenue Group to be materially different from any results, performance, timing or achievements expressed or implied by such forward-looking statements. The various uncertainties, variables, and other risks include those discussed in detail in the Company's SEC filings, including the Annual Report on Form 10-KSB, for the year ended December 31, 2007 and its Quarterly Report on Form 10-Q for the period ended September 30, 2008. Avenue Group Inc. undertakes no duty to update or revise any forward-looking statements. Actual results may vary materially.
For further information, please visit our website at www.avenuegroupinc.com
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Avenue Group Inc.
Avenue Group, Inc.
Levi Mochkin
(888) 612-4188 ext. 4
IR@avenuegroupinc.com

(C) Copyright 2008 GlobeNewswire, Inc. All rights reserved.

RNS Number : 8104I
TomCo Energy PLC
24 November 2008



TomCo Energy plc




('TomCo' or the 'Company')




Results of the Independent Reserves and Resource Evaluation and Audit Undertaken by TRACS International Limited










TomCo Energy plc (AIM: TOM), an AIM listed company which has investments in conventional oil production in the United States and Israel, is pleased to announce the outcome of an independent Reserves and Resource evaluation and audit of the Heletz Field, Israel, in which the Company has a substantial interest1.




As announced on the 3 July 2008, the study was undertaken by TRACS International Ltd ('TRACS') on behalf of the Company and its partner and field operator, Avenue Energy Israel Ltd ('Avenue Energy').




Based on a comprehensive re-evaluation of the data collated from the field, including over 90 wells drilled since the field was discovered in 1955, TRACS estimate a mid-case (P50) original oil-in-place for the field of 94.4 MM bbl, with a range from 52.7 MM bbl (P90) to 164.4 MM bbl (P10). This estimate represents a significant increase over the previously quoted figure of 50 MM bbl, and reflects the recognition of substantial additional volumes of oil in lower quality carbonate reservoirs (e.g. the 'Kokhav Dolomite') within the main Cretaceous reservoir section. TomCo and Avenue Energy believe that a significant portion of this additional oil will be recoverable through the application of modern drilling, completion and reservoir management techniques, and, as noted by TRACS, 'that there is considerable remaining potential in the Heletz field'




Around 17 MM bbl have been produced from the field to date, mainly from the better quality sandstone reservoirs in the middle of the Cretaceous reservoir section. TRACS have calculated the currently established gross field Remaining Reserves2, on a 2P (Proved plus Probable) basis to be 974,000 bbl, of which 720,000 bbl are Undeveloped Reserves to be targeted by the planned 2009 workover and infill drilling campaign. The 3P (Proved plus Probable plus Possible) upside reserves are 1.87 MM bbl. The Company's net interest in these reserves is around 35%.









Reserves,

MM bbl
1P
2P
3P

Gross Field
0.462
0.974
1.870

Net to TomCo
0.163
0.336
0.630





Contingent Resources, MM bbl
1C
2C
3C

Gross Field
1.003
3.520
8.568

Net to TomCo
0.335
1.230
3.022








In addition, TRACS have identified 3.5 MM bbl of gross field '2C' Contingent Resources with up to 8.5 MM bbl in the upside, '3C' case. The majority of these Contingent Resources (ca 63%) are in the Kokhav Dolomite, but there are also significant resources identified through a partial waterflood of the field, and through further infill drilling. Again, the Company holds an average net interest of 35% in these resources. As the field is re-developed over the coming months, we expect a substantial portion of these Resources to be upgraded to Reserves status.




The Company continues to recognise a large exploration potential in deeper Jurassic limestones below the Cretaceous reservoirs, but these targets were not included in the TRACS evaluation.




Howard Crosby, the Company's CEO, comments: 'We are very pleased with the TRACS Report with original Oil-in-Place (P50) estimates almost double the figure previously released. It is also our belief that the planned work program for 2009 can significantly increase the proven and probable reserves and the Report also confirms the huge up-side potential that further exploitation can unlock at the Heletz Field.'




The technical information contained within this announcement has been reviewed and approved by Nicholas J. R. Wright, who is a professional geologist and a Qualified Person under AIM rules. Mr Wright has over 25 years experience as a petroleum geologist in the international Oil & Gas industry.




Enquiries:




TomCo Energy plc

Howard Crosby



+44 (0)20 7766 0078

Strand Partners Limited

Simon Raggett

Stuart Faulkner

David Altberg



+44 (0...





Glossary of terms:




Reserves - are those quantities of petroleum anticipated to be recoverable by application of development projects to known accumulations from a given date forward under defined conditions. For a full definition of Proved, Probable, Possible, 1P, 2P, 3P Reserves etc the reader is referred to the SPE-WPC-AAPG-SPEE 'Petroleum Resource Management System (2007)'




Contingent Resources - are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations by application of development projects, but which are not currently considered to be commercially recoverable due to one or more contingencies. For a full definition of 1C, 2C, 3C resources etc the reader is referred to the SPE-WPC-AAPG-SPEE 'Petroleum Resource Management System (2007)'




bbl - barrels of crude oil




MM bbl - millions of barrels of crude oil


--------------------------------------------------------------------------------



1 The Company has interests in two licenses covering the Heletz Field - a 25% working interest in the 'Iris License' in the central part of the field, and a 50% working interest in the larger 'Heletz License'.

2 The Reserves and Resources reporting standard adopted by TRACS is the SPE-WPC-AAPG-SPEE 'Petroleum Resource Management System (2007)'.


This information is provided by RNS
The company news service from the London Stock Exchange

Monday, November 24, 2008
TomCo Energy reports near doubling of oil-in-place in Heletz Field
company news image

TomCo Energy plc (AIM: TOM), the AIM listed oil and gas exploration and production company with investments in the United States and Israel, released an updated independent Reserves and Resource evaluation and audit of the Heletz Field, Israel.

The study, undertaken by TRACS International, ('TRACS') reported an mid-case (P50) estimate original oil-in-place for the Heletz Field of 94.4 million barrels, with a range from 52.7 million barrels (P90) to 164.4 million barrels (P10).

Tomco said the revised estimate represented a significant increase over the previously quoted figure of 50 million barrels. The additional resource largely emanated from the inclusion of substantial additional volumes of oil in lower quality carbonate reservoirs in the Cretaceous reservoir section of the field.

Around 17 million barrels have been produced from the field to date, mainly from the better quality sandstone reservoirs in the middle of the Cretaceous reservoir section.


TRACS International additionally calculated a 2P (Proved plus Probable) reserve of 974,000 barrels, of which 720,000 barrels are Undeveloped Reserves. Tomco and joint venture partner Avenue Energy will be targeting the undeveloped reserves in their 2009 work over and infill drilling campaign. The 3P (Proved plus Probable plus Possible) upside reserves are 1.87 million barrels. Tomcos net interest in these reserves is around 35%.

TRACS further indentified 3.5 million barrels of 2C Contingent Resources and 8.5 million barrels of 3C Contingent Resources. Approximately 63% are in the Kokhav Dolomite.

Howard Crosby, the Company's CEO, said: 'We are very pleased with the TRACS Report with original Oil-in-Place (P50) estimates almost double the figure previously released. It is also our belief that the planned work program for 2009 can significantly increase the proven and probable reserves and the Report also confirms the huge up-side potential that further exploitation can unlock at the Heletz Field.'

I have held these for a while now and watched the sp fall from 4p to 0.5p---this is excellent news and hopefully the start of a steady rise towards at least 5p!

We're back.

SP has doubled this last week, and is rumoured to be going much higher.

Red leaf has a suiter to back them. Opinion is that it may be TOTAL.

Our leases are adjacent to Red leaf's and some think a take over is possible.

Personnally I think Chris Brown will see us through to production.

The only way from here is up. IMHO DYOR.

Yep, looking good! topped up earlier this week @ 1.2p so v happy with current situation.

i am out now - however only concern is the technology available for this type of find? to make it commercial

Good luck gibby...understand your view.....I'll stay in for a good while and see how it goes (50% up on my original outlay)

Good luck gibby...understand your view.....I'll stay in for a good while and see how it goes (50% up on my original outlay)

A bit more upward movement again.


I'm not sure if the following snippets from the TOM website have any bearing on the present rise or if I have even interpreted the final sentence right.

"TomCo has entered into a License with Red Leaf resources Inc, which owns the patent pending EcoShaleTM extraction process, to use this unique technology to extract oil from TomCos Leases.

Red Leaf Resources Inc, has developed the EcoShaleTM In-Capsule Technology to produce high quality liquid transportation fuels from oil shale, oil sands, coal, lignite and bio-mass using an environmentally sensitive process.

The EcoShaleTM In-Capsule Technology involves heating mined shale in a closed surface impoundment, or capsule. The process relies on conventional mining and construction methods and produces a shale oil with a much higher concentration of middle distillate than West Texas intermediate crude.

Two distinct synthetic shale oil products are produced in the process: a liquid oil of approximately 290 API gravity, and a condensate oil of around 390 API gravity. The resultant blended product is a high quality feedstock with an average 340 API and no fines. The process also results in synthetic natural gas production, allowing for a degree of energy self-sufficiency at the plant.

The technology requires little or no process water; it protects groundwater resources and vegetation, uses relatively low temperatures for heating and allows for rapid site reclamation.

Red Leaf Resources are planning a 9,500 barrels per day (bopd) commercial plant at their Seep Ridge site, which lies about 15 miles SW of TomCos Holliday Block lease. TomCos strategy is to develop the Holliday Block lease as a follow-on project to Seep Ridge."

"Presently Shell Oil and other major companies are developing economically feasible ways of producing oil from oil shale. Shell Oils In-situ Conversion Process (ICP), obtains 3.5 units of energy for every 1 unit of energy expended.
Shell has stated that within six to ten (6-10) years there will be techniques available to extract oil from oil shale economically at an oil price of $30 per barrel. The EcoShaleTM technology achieves this target"


Does the last sentence, "The EcoShaleTM technology achieves this target", really imply that the technology is 6 - 10 years ahead of Shell's?

Wow! doing nicely and lot more to come (imho)....bring it on!

If the Red Leaf technology really does work then your name says it all skyhigh!

I'm surprised that gibby hasn't been on here with a yeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa! ;o)

This is going like a good un, not like poor old MTA today.

doesn't this yarn remind one of Braemore Resources.....beware!!

Very speculative but there is certainly potential, shale oil is getting popular in the States.