LONDON (Alliance News) - TomCo Energy PLC on Tuesday said it has started work on the field test programme at the Holliday Block in Utah.
TomCo shares were trading down 22% at 2.10 pence each on Tuesday afternoon.
The company is seeking to achieve first oil through the application of TurboShale's radio frequency technology.
"The company has commenced work to identify a suitable site for the 2019 field test, following which it will first seek to test drill into the upper mahogany zone of the shale," TomCo said.
Chief Executive John Potter said: "We have two key strands of work ongoing at present with our primary objective being to test the application of TurboShale's RF technology on our Holliday Block to achieve first oil. TomCo will, subject to a successful test, then seek to scale operations into the pre-production phase."
The firm is also looking to improve the design of its RF transmitter, to help the antenna deliver the RF energy even when water is present.
Furthermore, the company's 80%-owned subsidiary TurboShale, has also received confirmation from the US Patent Office that the second patent, pursuant to the framework agreement with JR Technologies LLC, has now been granted.