From Rmart ADVFN post9 Oct 2018 11:31
Great Tomco post from Rmart ADVFN;
9 Oct '18 - 10:23 - 410 of 410
0 0 0
For any newbies looking in here.
Tomco are about to start a 4 to 6 week field test in Utah to produce oil from Oil Shale. They are using RF (Radio Frequency) technology which has already been proven to work in the 1980's with a multi millon $$ field test.
Our lead engineer is Ray Kasevich who was also the lead engineer on the BART programme of the 1980's where good quality oil was produced. The reason the project did not reach full commercial production in the 1980's was because in 1984 the price of oil dropped to $12 per barrel. At a production cost of $9 it was not considered profitable enough.
Ray Kasevich has continued working on RF tech for a further 35 years since then and has new techniques which will be tried in this months field test. The company anticipate being able to produce at under $20 per barrel (hopefully closer to $15).
All of the preparation work for the field test is completed. (see photo above) and the real field test is about to commence within days.
If the numbers add up at the end of the test as expected then TOM will become the first company ever to produce commercially from shale. They have at least 100m barrels to produce on 1 lease and many other leases are available at very low cost in Utah with billions of barrels available for production.
There will be few majors looking in and taking note of what is happening and the possibility of JV's, Licencing or a buy out is possible.
It is all down to the next couple of months and getting the field test completed and the numbers out.
Please note : There is NO DOUBT that the field test will produce oil, this is proven beyond doubt. The question is the production cost.
Last Point . TOM market cap is £5m ... DYOR, etc.
Sign In
Follow the stocks
