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TomCo Energy PLC (TOM)

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Thursday 18 October, 2018

TomCo Energy PLC

TurboShale Update on Field Test

RNS Number : 4451E
TomCo Energy PLC
18 October 2018
 

 

 

 

18 October 2018

 

TOMCO ENERGY PLC

(AIM: TOM) ("TOMCO" OR THE "COMPANY")

 

TurboShale Update on Field Test

 

TomCo Energy plc, the oil shale exploration and development company focused on using innovative technology to unlock unconventional hydrocarbon resources, is pleased to provide an update in respect of TurboShale Inc. ("TurboShale"), in which the Company has an 80% interest, and its current field test programme being conducted on the Company's Holliday Block in Utah (the "Field Test").

 

Further to the Company's announcement of 12 October 2018, TomCo is pleased to announce that the upgrade designs for the RF antennas have been completed and the required modifications are almost complete. The additional parts required, including the the artificial lift equipment, have been ordered and are due to be delivered early next week, with the main test to resume within a week thereafter.

 

We look forward to keeping shareholders updated on the progress and results of the Field Test.

 

John Potter, CEO commented: "In many ways, discovering there to be more water than originally anticipated has turned out to be fortuitous, as we now have improved our antenna designs significantly. I am very grateful to the tireless work that the team have put in over the past week in achieving a robust solution. We remain confident of achieving a succesfull outcome."

 

 

Enquiries:

 

TomCo Energy plc

Andrew Jones (Chairman) / John Potter (CEO)                    +44 (0)20 3823 3635

 

Strand Hanson Limited                                                      (Nominated Adviser)

James Harris / Richard Tulloch / James Dance                    +44 (0)20 7409 3494

 

SVS Securities plc                                                              (Broker)

Tom Curran / Ben Tadd                                                         +44 (0)20 3700 0093

 

Lionsgate Communications                                              (Financial PR)

Jonathan Charles                                                                 +44 (0)20 3697 1209

 

For further information, please visit www.tomcoenergy.uk.com

 

 


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