LONDON (Alliance News) - TomCo Energy PLC Thursday said it has made further progress in relation to its applications to commence large mining operations in its Holliday Block in Utah, in the US, as well as the ground water discharge permit.
The oil shale exploration and development company said the ground water discharge permit is progressing, with final submission expected during the fourth quarter.
The company also said that it is encouraged by progress made at Red Leaf Resources Inc's nearby Seep Ridge Project as it develops its commercial demonstration plant.
Red Leaf, TomCo's technology supplier, is progressing with a commercial demonstration project at its Seep Ridge Project, 15 miles west of TomCo's Holliday Block.
"The initial mining is nearing completion, with construction of the capsule to follow. TomCo intends to closely follow the precedent set by Red Leaf which is expected to demonstrate the commerciality of the EcoShale In-Capsule Process," the company said in a statement.
TomCo Energy shares were untraded Thursday morning at 1.10 pence per share.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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Tomco Energy (TOM)