Wednesday, August 24, 2011

Shale Oil Project in Utah

Welcome to the Collaborative Revolution!

TomCo Energy out of the UK has taken the first step in developing oil leases they hold in the massive Uintah Shale formation in Utah.  TomCo's approach is as environmentally friendly as a fossil fuel production plan can be.  The EcoShaleTM process they have developed purports to produce oil from tight shale formations, like the Uintah, with NO WATER which is a big deal in Utah.  A series of contracts have been signed with a variety of engineering and consulting firms involving the environmental assess required to move forward.

Stephen Komlosy, CEO of TomCo Energy, comments: "We are delighted to have engaged the services of Rocky Mountain Power, Epic Engineering and Norwest Corporation as consultancy partners in our Holliday Block development project, and we expect to see some real progress over the next several months. These are all companies with enormous experience in the Uintah Basin, and in the challenges presented by oil shale projects, and the projects being initiated are all necessary for the upgrading of project Resources to Reserves as we move towards development of our Holliday Block asset."

The Uintah Shale formation is estimated to contain on the order of 1.3 trillion cubic barrels of oil, with 800 billion of those thought to be recoverable through current technology.  To put those numbers in perspective, the Saudis are sitting on proven reserves of only 267 billion barrels of oil, or 1/5th of the world's proven reserves.  If TomCo can extract this oil in an environmentally responsible manner the positive impact on the US economy will be enormous.  Collaborative Construction will be keeping a close eye on TomCo's efforts.

Link to Article
 
James L. Salmon, Esq.
Collaborative Construction
300 Pike Street
Cincinnati, Ohio 45202
Office 513-721-5672
Fax 513-562-4388
Cell 512-630-4446
JamesLSalmon@gmailcom
Collaborative Construction Website
Sustainable Land Development International

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