TomCo Energy reports that its $5 million investment in Red Leaf Resources Inc. (Red Leaf) was part of a $100 million raising by Red Leaf that created a Joint Venture (JV) with Total E&P USA Oil Shale, LLC (Total), an affiliate of Total SA, the 5th largest international integrated oil and gas company.

The JV is for the development of the Red Leaf Oil Shale assets in Utah using Red Leaf's proprietary "EcoShale" processing technology to manufacture oil from near surface shale rock.

These assets are located close to those of TomCo's Holliday Block in Utah and TomCo has an existing commercial agreement to utilise the EcoShale technology.

Tags: TomCo Energy