Tomco Energy (TMCGY)

[stephanie_m]

New Canadian investor in Red Leaf Resources

http://www.questerre.com/en/newsroom/press-releases/2011/questerre-executes-unconventional-oil-strategy/


Pursuant to the letter of intent with Red Leaf Resources Inc. ("Red Leaf"), an oil shale technology and resource company, Questerre intends to participate for a 10% working interest in the development of Red Leaf's 5120 acres in Wyoming. Subject to the execution of a joint venture farm-in and operating agreement,Questerre anticipates its total capital exposure to this project for 2012 to be US$0.25 million.

The letter of intent also contemplates that Questerre will acquire an equity interest in Red Leaf through participation in the company's planned financing. Subject to participation by a super major for approximately US$400 million, Questerre would invest US$25 million.