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Pin to quick picksTomco Energy Share News (TOM)

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TomCo outlines work needed at Holliday A Block

Thu, 03rd Oct 2019 15:02

(Sharecast News) - US-focussed oil shale exploration and development group TomCo Energy updated the market on the work it had been undertaking since completion of the field test programme at its Holliday A Block in Utah on Thursday.
The AIM-traded firm had confirmed on 5 September that the field test had been effective at heating shale, though further optimisation of TurboShale's RF technology was required to develop the system to a commercial production level.

Together with Continental Electronics, the manufacturers of the RF transmitters who were also on site during the field test, the company said it believed it had identified the areas of the system needing refinement, and work had begun to address those.

The board said the areas needing refinement included the transmission of the RF power from the RF transmitter through the wellheads onto the antenna, and the thermocouples in the antenna wells also needing to be protected from the RF energy.

To accommodate those changes, it said it was likely that there would have to be changes to the design of the wellheads.

Continental Electronics said it had already started to model the data recovered during the field test to identify the optimum design of the antenna.

That work was expected to take around a month and on completion, the results would be used to develop the transmission connection from the RF transmitters to the antenna through the wellhead.

The company said it would then seek to optimise the wellhead design.

Initial solutions identified for the thermocouple revision included using fibre optic lines, and the company said it was in the process of assessing various systems to ensure their suitability to operate in the environment of the antenna wells.

Two 20 foot-long cores were taken nine feet and 18 feet from antenna well one during the plug and abandonment work.

Those cores were collected in the event the firm needed to perform any further tests while the revisions to the antenna were being made, TomCo explained.

"Continental Electronics have confirmed they are confident that upon completion of the modeling work they will have identified the optimum design for the antenna and the transmission lines from the transmitter," said TomCo Energy chief executive officer John Potter.

"This will allow the maximum power to be delivered by the antenna and so heat the shale formation in a more defined and efficient manner."

Potter said the modeling would be invaluable moving forward in optimising the antenna design.

"We, along with our partners, remain committed to the continuing development and are confident in the technology and its capabilities."
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UK shareholder meetings calendar - next 7 days

Wednesday 23 August 
Brandshield Systems PLCAGM
James Latham PLCAGM
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Friday 25 August 
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Monday 28 August 
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Tuesday 29 August 
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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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IN BRIEF: TomCo Energy cautions on future of company as loss widens

TomCo Energy PLC - oil development group operating in the US - In the six months to March 31, pretax loss widens to GBP1.4 million from GBP678,000 a year prior. Posts no revenue in either period. Looking ahead, firm cautions: "The cash reserves currently held by the group are insufficient to fund ongoing overhead costs for the next 12 months. However, based on a history of successfully raising additional funds when needed, the directors have a reasonable expectation that the group will be able to raise the required additional funds as necessary."

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TomCo Energy raises money to fund subsidiary's buy of Tar Sands

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TomCo draws down first tranche of its new £1m facility

(Sharecast News) - TomCo Energy announced on Monday that it was drawing down the initial £0.25m tranche of its £1m convertible loan facility, which it announced on 30 March.

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