Last checked at 3 Oct 2019 07:00
3 October 2019
TOMCO ENERGY PLC
("TOMCO" OR THE "COMPANY")
Operational Update Following Field Test
TomCo Energy plc (AIM: TOM), the US operating oil shale exploration and development group focused on using innovative technology to unlock unconventional hydrocarbon resources, provides an update on the work it has been undertaking since completion of the field test programme at the Company's Holliday A Block in Utah ("Holliday Block") (the "Field Test").
As announced on 5 September 2019, the Company confirmed that the Field Test had been effective at heating shale, though further optimisation of TurboShale Inc's RF technology was required to develop the system to a commercial production level. Together with Continental Electronics, the manufacturers of the RF transmitters and who were also on site during the Field Test, we believe we have identified the areas of the system needing refinement and work has started to address these.
The areas needing refinement include 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 these changes, it is likely that there will have to be changes to the design of the wellheads.
Continental Electronics have already started to model the data recovered during the Field Test to identify the optimum design of the antenna. This work is expected to take approximately a month and on completion, the results will be used to develop the transmission connection from the RF transmitters to the antenna through the wellhead. The Company will then seek to optimise the wellhead design.
Initial solutions identified for the thermocouple revision include using fibre optic lines and the Company is in the process of assessing various systems to ensure their suitability to operate in the environment of the antenna wells.
Two 20ft long cores, were taken 9ft and 18ft from antenna well 1 during the plug and abandonment work. These cores were collected in the event we need to perform any further tests while the revisions to the antenna are being made.
John Potter, CEO, commented: "Continental Electronics have confirmed they are confident that on completion of the modeling 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 modeling 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."
Enquiries:
TomCo Energy plc
Andrew Jones (Chairman) / John Potter (CEO) +44 (0)20 3823 3635
Strand Hanson Limited (Nominated Adviser)
James Harris / Richard Tulloch / James Dance +44 (0)20 7409 3494
Turner Pope (Broker)
Andy Thacker / Zoe Alexander +44 (0)20 3657 0050
For further information, please visit www.tomcoenergy.com.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014.