What an interesting cast of characters!!!
"Wednesday, April 02, 2008
Israeli Onshore Oil License - Tomco buys into Heletz fields
TomCo Energy (reg Isle of Man) announced yesterday that TomCo and its wholly owned Israeli subsidiary, Luton-Kennedy Limited (LKL) completed the acquisition of interests in two onshore petroleum licenses in Israel from Avenue Group Inc (AVNU.OB), a New York based US listed Oil & Gas Company, and its wholly-owned subsidiary Avenue Energy Israel Limited (together referred to as AEI). The interests acquired are a 50% interest in the Heletz-Blur-Kokhav Licence and a 25% interest in the integral Iris License, which include the original Heletz-Blur-Kokhav oilfield (Heletz).

At completion TomCo paid a US$1 million fee to Avenue Group Inc. in respect of the transfer of the 50% and 25% interests in the Heletz oil fields from Avenue to TomCo.
...

Howard Crosby, TomCo's CEO, commented. "To have the potential for in excess of 100 million bbls at deeper levels is truly exciting and would, on its own, transform your company into a serious E&P player within the oil & gas sector.

Indeed it would. Tomco shares rose 0.23 p on the news a to 2.05 p a rise of 12.33%

Howard Crosby and John Ryan were directors of Cadence Resources which rose in value from under US$1 million in 2001, when the company adopted its oil and gas investment strategy, to over $450 million in June 2006 when Mr Crosby stepped down as director. Howard and John May, FD, are also directors of Platinum Diversified Mining Inc (now ICM) which acquired International Consolidated Minerals Inc for $240m and remains quoted on AIM.

Not one for the widders 'n' orfans."



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