(Alliance News) - TomCo Energy PLC on Thursday said it will likely need to change the design of wellheads for the Holliday A Block located in the US state of Utah.
Shares in TomCo were down 24% in London at 1.17 pence each in morning trade.
In September, TomCo said that field tests on Holiday had effectively heated the shale, but TurboShale Inc's radio frequency technology would need "further optimisation" to reach commercial production level.
TomCo on Thursday said changes will need to be made to "the transmission of [radio frequency] power from the RF transmitter through the wellheads onto the antenna" while the thermocouples also need "to be protected from the RF energy".
Given this, TomCo said "it is likely that there will have to be changes to the design of the wellheads."
Work is ongoing, undertaken by Continental Electronics, to find an optimum antenna design, and is likely to take around a month. Ideas for improving the thermocouples include the use of fibre optic lines.
Chief Executive John Potter said: "Continental Electronics have confirmed they are confident that on completion of the modelling work they will have identified the optimum design for the antenna and the transmission lines from the transmitter. 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. The modelling will be invaluable moving forwards 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."
By Anna Farley; annafarley@alliancenews.com
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Tomco Energy (TOM)