TomCo Energy PLC Field Test Update (2763L)
05 Settembre 2019 - 8:01AM
UK Regulatory
TIDMTOM
RNS Number : 2763L
TomCo Energy PLC
05 September 2019
5 September 2019
TOMCO ENERGY PLC
("TOMCO" OR THE "COMPANY")
Field Test Update
TomCo Energy plc (AIM: TOM), the US operating oil shale
exploration and development group focused on using innovative
technology to unlock unconventional hydrocarbon resources, is
pleased to announce that it has completed the field test programme
at the Company's Holliday A Block in Utah ("Holliday Block") (the
"Field Test").
The Field Test was designed to demonstrate the applicability of
TurboShale Inc.'s ("TurboShale") RF technology in the recovery of
oil from the Holliday Block and a significant amount of data has
been collected in this regard. The data collected during the Field
Test, together with the final core samples that are being extracted
later this month, will be analysed with the results to be published
in the coming months.
At this early stage of the analysis, the Company can confirm
that the RF technology was effective in the heating of shale at the
Holiday Block, though the data collected showed areas which require
further optimisation. It has been determined that sufficient data
was recovered during the Field Test to enable the Company, in
collaboration with its partners, to begin the planning work for the
larger, pre-commercial testing phase, once the data analysis work
has been completed.
Whilst the Field Test was concluded before oil was recovered to
surface, condensed oil was present within the production well and
melted bitumen on the ceramics of one of the RF antenna,
demonstrating that oil generation had occurred in the heated
formation.
John Potter, CEO, commented: "I would like to thank the team for
the excellent work that has taken place over the last five weeks.
There has been a significant development of the understanding of
the process and systems during the test and I look forward to
announcing these once all the data recovered has been
analysed."
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
Turner Pope (Broker)
Andy Thacker / Zoë Alexander +44 (0)20 3657 0050
For further information, please visit www.tomcoenergy.com.
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) No 596/2014.
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END
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