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Thanks for the updates. Turn out the lights.
Mendel too busy over at MSTG looking for gold to pay attention to business here.
Think they lost the Heletz lease to Lapidoth by not complying to the agreement to develope the Heletz.
They would have been better off drilling more gas wells in Virginia.
All in my opinion.
Thanks Renee.
Never seen this much volume in a LONG time. Something up?
Avnu not sold.
After further investigation, I found the Reuters article not correct. GO.D.M Investments are negotiating for the purchase as the other articles stated.
I think
Tomco got boned on the deal and settled as they did just to cut their losses.
GO.d.m investments supposidly pruchased 85% of Avenue back in Dec. ,if you read my previous posted articles. No notice to shareholders, no SEC filings etc. etc.
I have held this stock for years at little cost to me and will ride it out to the end and take the write off when and if it goes down the tubes.
I think when Tomco becomes available again in the U.S I will purchase some of it. Looks like a homerun.
All the above my opinion only.
This is in the toilet. Tomco crap did nothing for this and won't.
Avenue
Looks to me like a sell off. They are, from what I have read, having money problems.
Interesting trading action. 11 grand from no where, when a form T happens at the extreme low. Most of the volume pops at 9:30, then a paint to .0070
On watch.
Tomco Energy,[color=red][/color] a company that has associations with AVENUE, will start trading in London 21st July. See Tomco BB for further details
s
www.col.org.il/show_news.rtx?artid=59048
http://english.themarker.com/lapidoth-shuts-down-heletz-leaving-mochkins-out-in-cold-1.372742?localLinksenabled=false
Interesting reading.
I have emailed Mendel numerous times on various issues and naturally never get a reply. Just like to let them know someone is watching them.
Apparently,according to a Globes interview with the both of them back in May,they have a positive cash flow and were supposed to start drilling a new well#41 soon. Never get any updates and alot of things have transpired that we do not know about.
They are cheap and do not want to spend the money for an SEC filing.
I do not get it.
No movement of any description in AVENUE.
Why have they not published their audited accounts in the past 12 months? If their shares were quoted on the LSE, the shares would have been suspended at this stage.
I do not understand why the shares can still be traded in the US, yet no audited accounts produced.
Simply amazing
s
No movement in AVNU though so whatever
Agree 5p is conservative.Oil Shale development in the US could be massive in the next few years. Tomco provide the opportunity to get involved with this new and exciting development.
Do not underestimate the value of 29.90% shareholder Kenglo One / Chris Brown to Tomco Energy.Just look at the fantastic work he did at London Mining. A directot of London Mining is now Chairman of Tomco Energy. This could be the best speculative investment of 2011/2012 in the oil sector[color=red][/color]Would like to see Avenue publish accounts.
Tomco Shares will be relisted in London on 19th July 2011.
See also Tomco thread
s
stephanie.speculator@gmail.com
Seen it Stephanie, and they give a target price of 5p per share which is a little conservative in my opinion.
Avenue / Tomco Energy .
Tomco are to relist 19th July 2011 on London AIM market. Tomco own 10% of Avenue Energy.
See Tomco Energy thread.
HB markets has a report TOMCO ENERGY its stock of the day. speculative buy.
http://www.hbmarkets.com/tomcoenergy070711/
Avenue / Tomco Energy .
Tomco are to relist 19th July 2011 on Lonson AIM market. Tomco own 10% iof Avenue Energy.
See Tomco Energy thread.
HB markets has a report TOMCO ENERGY its stock of the day. speculative buy.
http://www.hbmarkets.com/tomcoenergy070711/
SEE TOMCO ENERGY / AVENUE (AVNU)
Tomco own 10% of Avenue and are due to be relisted on London SE later this month. See Tomco thread for the latest news.
s
AVENUE Shareholder in OIL SHALE Tomco Energy
http://investorshub.advfn.com/boards/board.aspx?board_id=10047
TOMCO ENERGY Relisting//Open Offer
The information on this site regarding TOMCO ENERGY is now out of date.
See new website www.tomcoenergy.com for the latest presentation. Tomco shares are due to be relisted on Tuesday 31st May 2011, subject to the prior raising of £3.5m in a pre IPO.
Avenue hold 12M Tomco Energy shares
See also web site www.redleaf.com
If you are interested in the very exciting development of Oil Shale in the US then you will want to read every page of the new TOMCO ENERGY web site and Institutional Presentation[color=red][/color]
Tomco Energy are currently having a placing at 3p per share. Open offer closes 19th May. Depending on your location it may not be possible to subscribe. See www.tomcoenergy.com for detailed information about the open offer / placing
s
stephanie.speculator@gmail.com
Monday 10th January 2011
TOMCO ENERGY PLC[color=red][/color]
("TomCo" or "the Company")
Appointment of Westhouse Securities Ltd, and intention to seek Admission to AIM
TomCo Energy Plc (TomCo or the Company) announces the appointment of Westhouse Securities Ltd to examine options for re-floating on AIM during 2011. The company intends to raise funds at this time, which will be used to undertake geological, engineering and process design work in connection with the Company's Holliday Block oil shale project in Uinta County, Utah.
As previously reported, TomCo has recently completed an extensive core hole drilling programme on the Holliday Block, for which analytical work is underway. Results of this work, including a re-assessment of resources on the Block by SRK Consultants, are expected prior to the AIM flotation.
Sir Nicholas Bonsor Bt DL, the Company's Chairman commented: "The appointment of Westhouse Securities brings to TomCo a highly experienced Advisor within the Resource sector. Our focus is now on the development of our extensive oil shale resource in Utah and managing this to production stage".
Contact:
Sir Nicholas Bonsor TomCo 0207 766 0078
Laurence Read Threadneedle Communications 0207 653 9855
Notes to Editors
TomCo Energy Plc owns oil shale leases covering approximately 3,000 acres in the Green River Shale Formation, Uinta County, Utah. The leases have been independently estimated by SRK Consultants Ltd to hold up to 230 million barrels of potentially recoverable oil.
Around 124 million barrels of TomCo's total resource lie on the Holliday Block lease. The main tract of TomCo's Holliday Block lease has around 114 million barrels of 'Inferred Resources', which could potentially sustain a 9,500 barrels of oil per day (bopd) production facility for over 20 years.
TomCo has entered into a License with Red Leaf Resources Inc (Red Leaf), which owns the patent pending EcoShaleTM extraction process (EcoShale), to use this unique and environmentally sensitive technology to extract oil from TomCo's leases.
Red Leaf 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 technology requires no process water, and actually produces water; it protects groundwater and vegetation, uses relatively low temperatures for heating and allows for rapid site reclamation. The resultant product is a high quality feedstock with an average 34o API and no fines. The process also results in synthetic natural gas production allowing for energy self-sufficiency at the plant with some excess gas for sale.
Red Leaf is planning a 9,500 bopd commercial operation to be in production by 2012 at their Seep Ridge site, which lies about 15 miles SW of TomCo's Holliday Block lease. TomCo's strategy is to develop the Holliday Block lease as a similar follow-on project to Seep Ridge using the EcoShale technology.
http://www.investegate.co.uk/Article.aspx?id=201101100700071198Z
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
TomCo Energy Hires Adviser To Examine Re-Admition To AIM During 2011
LONDON -(Dow Jones)- TomCo Energy PLC, which owns oil shale leases covering 3, 000 acres in the Green River Shale Formation, Uinta County, Utah, said Monday it has appointed Westhouse Securities Ltd to examine options for re-floating on AIM during 2011.
MAIN FACTS:
-Company intends to raise funds at this time, which will be used to undertake geological, engineering and process design work in connection with the Company's Holliday Block oil shale project in Uinta County, Utah.
-Company's focus is on the development of its extensive oil shale resource in Utah and managing this to production stage.
-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com
Yea no action today. No eyes on this at all
I knew that Steph.
What we (AVNU)need now is an up to date SEC filing and a press release to get this moving forward.
Avenue hold 12M shares in Tomco Energy
s
Great find!
I kind of thought this might happen. Avenue like an Albitros around Tomco neck. This is somewhat of a loss for us. Tomco/Redleaf deal will be huge in a year or so. Hopefully Avenue proceeds with developement of the Heletz in a timely and efficient manner.
TomCo Signs Compromise Agreement With Avenue Group, Avenue Israel - Quick Facts
12/22/2010 3:03 AM ET
(RTTNews) - TomCo Energy Plc (TOM.L: News ) said it inked a compromise agreement with Avenue Group Inc. and Avenue Israel Ltd., or AEI, together known as "Avenue".
The compromise agreement, inter alia, terminates the farm-out agreement, the joint operating agreement and Addenda (Original Agreements).
As consideration for TomCo relinquishing its interests in the two Heletz Licenses, it will be issued, credited as fully paid, such number of shares as shall equal ten percent of the enlarged issued share capital of AEI.
All parties have released the others from all claims, obligations, debts and liabilities relating to the original agreements and the Heletz Licences and Avenue has indemnified TomCo in relation to any loss incurred by it in relation to the original agreements or the Heletz Licences.
http://www.rttnews.com/Content/QuickFacts.aspx?Id=1512493&SM=1
sorry, got tunnel vision.
I do not think the reports were submitted. They were SUPPOSED to be submitted.
From Steph as I stated in the post
Cronek
Please refer to your post number 1831 dated 2/14/10. Could you please tell me how or where you got that information?
I was board today and re read the last years worth of posts and that one struck me because if they did, I do not think we would be sitting around waiting for a Tomco relist. Avenue would also more than likely be up to date on their SEC filings.
Thanks
Pretty quite on this one. Is there anything going on?
down 30% on a decent dump.
This rubbish company is about to go bust IMO.
Great! Did I see that right, someone just bought $13 worth of this stock? It would sure be nice to get an update.
Take a look at EOR.V and let me know what you think. They recently announced production of 530 BOPD and adding another well that tested 160 boepd. Looks promising....
http://investorshub.advfn.com/boards/board.aspx?board_id=18209
EOR info on FB
At least this is getting volume now. things looking up.
I wonder how many .02s are left. Two ask slaps in first 10min of trading.
I'm a bagholder anyway so trying to be positive...Ask is thin
best of luck to you but $5 million is not enough to finance any drilling and basically all they are doing is shuffling interest in the company around and becoming more apparent that it is a complete scam of a company...
I'm looking for a run...nothing long term. We haven't had news in forever.
This company has zero credibility, $5 million is peanuts and will only line the pockets of those running this scam...
Don't waste your time...
NEWS!!! Avenue Enters Into LOI for the Development of Heletz
Avenue Group, Inc. (OTCBB:AVNU) ("Avenue"), is pleased to announce that Avenue Energy Israel ("AEI") has entered into a Letter of Intent ("LOI") with an Israel based investment group ("Israel Group"), to finance the development of the Heletz field.
Under the terms of the LOI, the Israel Group is to contribute up to $5 Million towards the development of the Heletz field and earn a 32.5% interest in the Heletz field.
The agreement is subject to closing conditions which include, concluding a definitive agreement, finalizing the Tomco agreement and the customary closing conditions.
We need a PR
GREAT NEWS
I am sure more to come. The only thing that needs clarification is the percentages as to who owns what. Good news for Tomco either way as far as I am concerned and wish both companies the best. Its about time.
Investors buy third of Heletz-Kokhav license for $5m
The onshore oil field near Ashkelon has been producing oil since 1955.
Amiram Barkat28 Jun 10 16:29
A group of businessmen headed by Moshe Hirschberg acquired 32.5% of the onshore Heletz-Kokhav license from Avenue Group Inc. (Pink Sheets: AVNU) subsidiary Avenue Energy Israel Ltd. for $5 million. The price tag reflects a value of $15 million for the longstanding license, where Israel's first large oil discovery was made.
Avenue Group has owned 75% of Heletz-Kokhav license since August 2007 and Lapidoth Heletz LP. (TASE: LPHL), controlled by Yaakov Luxembourg, has owned 25%. Hirschberg and Luxembourg are partners with Teddy Sagi in the offshore Benjamin license.
Sources inform ''Globes'' that Heletz-Kokhav partners plan to shortly begin drilling new wells, based on an engineering and geological study which found a 50% chance of production of 4.5 barrels of oil, currently worth a gross $350 million.
The estimate is higher than previous estimates of the Heletz-Kokhav license, located between Ashkelon and Sderot, which has been steadily producing oil since 1955. The well has produced over 17 million barrels of oil to date, however production has fallen from 400 barrels a day in its heyday to a few dozen barrels a day today.
The new study prepared for Avenue Energy found that new production methods and technologies could greatly boost production from the oil field.
Source:http://www.globes.co.il/serveen/globes/docview.asp?did=1000570174&fid=942
Opinions Anybody?
s
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http://www.avenuegroupinc.com/
Company Description
Avenue Group, Inc. (OTC BB:AVNU.OB - News) is engaged in the exploration and development of oil and gas reserves. Its strategy is to acquire a portfolio of oil and gas assets that include low risk oil and gas reserves internationally and the generation of low risk drilling opportunities in Appalachia and similar basins in the US.
Avenue Group, through is subsidiary Avenue Energy Israel LTD, is the license holder of the Heletz-Kokhav field, the most prolific oil field discovered in Israel. Heletz-Kokhav has produced in excess of 17.2 Million barrels. Avenue is also the General Partner of Avenue Appalachia 2006-LP engaged in an ongoing 10 well program in West Virginia.
Contact Information
Avenue Group, Inc.
405 Lexington Avenue
26th Floor
New York, NY 10174
United States
Levi Mochkin, CEO
Phone: 888-612-4188
Fax: 818-301-2708
IR@AVENUEGROUPINC.COM
Share Structure
Authorized Shares as of 3/31/2008 : 500,000,000 shares
Outstanding Shares as of 5/31/2008 : 256,990,986 shares
Tomco Energy
Stock Quote: http://www.advfn.com/lse/SharePrice.asp?shareprice=TOM
NEWS/FILINGS:
September 3, 2009 - TomCo Energy: Commencement of Arbitration Proceedings
May 21, 2009 - Quarterly Financials for period ending March 31, 2009
April 17, 2009 - TomCo Energy Announces Termination Of Agreement With Avenue Group Inc.
April 16, 2009 - Annual Financials for 2008
Tomco Agreement
On January 16, 2008, the Company entered into a Letter of Intent with TomCo Energy Plc (“TomCo.”).
In February, 2008 the Petroleum Commissioner of Israel issued the Company 50% of the Iris License covering the remaining part of the Heltz Field. Lapidoth-HEletz LP, a Limited Partnership listed on the Tel Aviv Stock Exchange, was issued the other 50% of the Iris License.
According to the terms of the Licenses, Avenue agreed to a work program over the next 3 years that will consist of field studies, well workovers, shooting seismic and the drilling of a new well. Failure by the Company in implementing the work program may cause the Company to lose its interest in the licenses. The Company may request the conversion of the License to a 30 year production Lease. In the event of a substantial increase in daily production that occurs as a result of the work program. The Company estimates the work program expenditures at approximately $4,500,000.
There are currently 53 idle wells which the Company believes can be excellent workover candidates.
On March 17, 2008, the Company borrowed $250,000 from TomCo. The loan is payable upon demand and accrued interest at a rate if 2% per annum.
Now, one year on from its formation, and the company has made its biggest investment to date, and its first venture overseas. TomCo has signed a letter of intent with New York-based Avenue Group Inc to acquire a 50 per cent interest in the Heletz-Kokhav licence, Israel’s only onshore producing field. The 50 million barrel oilfield, which lies 55 km south of Tel Aviv and 12 km from the coast, has produced more than 17 million barrels to date from Cretaceous sands. Production peaked at 3,000 to 4,200 bpd in the 1960s but is today running at around 60 bpd.
TomCo believes there is potential to significantly increase this number by drilling new wells and deploying modern recovery methods. The Israeli Government believes there are 2 million barrels of primary recoverable oil remaining, with the possibility for up to 10 million barrels using secondary recovery techniques. There are also a number of undrilled, deeper exploration prospects on the licence that could yield another 30 million barrels.
Heletz-Kokhav License
On September 25, 2007, Avenue Group, Inc. announced that the Petroleum Commissioner of Israel had issued a license for the Heletz-Kokhav Field to its wholly owned Israel subsidiary Avenue Energy Israel LTD. (“AEI”).
The Heletz-Kokhav license is comprised of 3 oil fields – Heletz, Brur and Kochav – equaling 229,600 dunam (approximately 60,000 acres), and is located approximately 55 km south of Tel Aviv and 12 km east of the Mediterranean Sea. Heletz was the first oil field discovered in the eastern Mediterranean and remains the most prolific oil field discovered onshore Israel.
The first well (Heletz 1) was drilled to a depth of 4800 feet (1515 Meters) and recognized as a producing well on 12 October 1955. Initial production was approximately 400 barrels per day; oil was 29 o API.
A total of 88 wells have been drilled on the Heletz field to depths ranging from 4,000 to 6,500 feet., of which 59 were producing wells with the other 29 having oil shows. Peak production reached 4,000 barrels of oil per day (“BOPD”) in the 1960’s.
Total reserves from the shallow sands have been estimated by Avenue’s geologists and by geological studies commissioned by the Israeli Government at 19.1 million barrels, of which 17.2 million barrels of oil has been recovered. Reserve estimates do not include secondary, tertiary recovery methods that may have the potential to raise production; these methods have not yet been applied to the field.
Oil production in the Heletz field continued until recently by Lapidoth Ltd., which acted as a contractor for the State of Israel. Recent production has been approximately 85 BOPD from 7 producing wells.
According to the terms of the License, AEI agreed to a work program over the next 3 years that will consist of field studies, well workovers, initiating 3D seismic and the drilling of a new well. Failure by AEI in implementing the work program may cause AEI to lose the license. AEI may request the conversion of the License to a 30 year production Lease. In the event of a substantial increase in daily production that occurs as a result of the work program.
There are 53 idle wells which AEI believes can be excellent workover candidates. There is significant infill drilling potential on the acreage as well. The field is currently developed on 80 acre spacing or greater, providing additional increased density drilling opportunity.
The Heletz sandstone together with production from an active waterdrive, makes Heletz-Kokhav an excellent candidate for a waterflood program, as other fields with similar characteristics have had success in increasing recoverable oil reserves through such processes.
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