Netcentric is pleased to announce the appointment of Howard Crosby to the Board.

IEC4 - 27 Dec'06 - 11:49 - 42 of 42 edit


"TomCo is a company incorporated in Utah, USA, which holds two State of Utah oil
shale leases comprising approximately 2,918 acres in the Green River oil shale
formation and which are estimated to contain some 230 million barrels of oil.
Shell has announced that its in situ extraction technology could be economic at
oil prices of US$30 per barrel.

The Company's strategy following completion will be twofold. Firstly, to hold
the TomCo leases as a long-term asset to be exploited when the commercial
conditions are suitable. Secondly, to acquire and develop conventional oil
assets in the USA. Led by Howard Crosby and John Ryan, the Company will
concentrate principally on acquiring participations in shallow producing oil
wells and intends to establish a portfolio of principally oil producing
properties which will provide cash flow for the enlarged Company. On completion,
John Ryan, a director of TomCo and a vendor, will be appointed to the Board.
John Ryan and Howard Crosby, an existing director of the Company, have
co-invested and been co-directors of a number of resource companies, primarily
in the USA. Companies in which Mr Ryan and Mr Crosby have been investors and
directors include 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
US$450 million in June 2006, when Mr Crosby stepped down as a director and
Platinum Diversified Mining Inc, which raised US$77.9 million net of expenses
and was admitted to AIM in March 2006."