American Shale Oil Corporation (AMSO) will manage IDT’s oil shale ventures including the company’s initial foray – its 75% stake in EGL Oil Shale which will be renamed AMSO.
EGL is one of three companies awarded leases by the Bureau of Land Management to develop and demonstrate in-situ shale oil extraction technologies on 160 acres in western Colorado, US.
Howard Jonas, IDT’s chairman, will serve as AMSO’s chairman and CEO. Wesley Perry will serve as the company’s vice chairman. Alan Burnham will serve as the company’s chief technology officer and Roger Day will serve as the company’s vice president for operations.
