TomCo Energy has been through many incarnations over the years. It was a property investor and then a website content management software developer called Netcentric Systems. When the latter was sold back to its founders it became a shell. The company acquired the TomCo business owning oil shale licences in Utah at the beginning of 2007 - and changed its name to TomCo at the same time. It acquired Israeli oil and gas assets in April 2008. TomCo lost its Aim quotation on 12 August 2009. TomCo returned to Aim on 31 July after raising £3.54m from a placing and open offer at 1p a share.