Midland, Texas headquartered American Shale Oil, LLC (AMSO), has struck a deal with Schlumberger Technology Corporation (Schlumberger), one of the world’s oldest and leading oilfield service providers to jointly explore improved methods to characterize oil shale resources within AMSO's federal lease site.

In addition, under the arrangement, AMSO will also supply Schlumberger's research subsidiary, Schlumberger-Doll Research, with drilled core samples from AMSO's lease site. On the other hand, Schlumberger will analyze the samples to develop improved methods to estimate rock properties.

AMSO, formerly known as EGL Oil Shale, LLC, is a developer of in-situ oil shale extraction technology. It is a subsidiary of IDT Corporation (75%) and EGL Resources, Inc., (25%) a privately owned independent oil and gas company with operations in the southwestern United States.

At 11.05 am (ET), IDT Corporation was trading 11 pct down at $0.66 on the NYSE, while the indexes S&P 500 and Nasdaq was down 0.31 and 1.24 per cent respectively.