Last checked at 10 Sep 2018 07:00
10 September 2018
TOMCO ENERGY PLC
(AIM: TOM) ("TOMCO" OR THE "COMPANY")
TurboShale Update on Field Test
TomCo Energy plc, the oil shale exploration and development company focused on using innovative technology to unlock unconventional hydrocarbon resources, is pleased to provide an update in respect of TurboShale Inc. ("TurboShale"), in which the Company has an 80% interest, forthcoming field test programme on the Company's Holliday Block in Utah (the "Field Test").
The Company is pleased to announce that Himes Drilling Company Inc., the appointed drilling contractor, has completed preparation works for the Field Test. These works included, inter alia, road surface works, site accommodation preparation and site clearance. The drilling of the bore holes and installation of the well heads for the Field Test, is expected to commence today.
The project team is expected to be on site from the week beginning 17 September 2018 with the RF generators expected to be delivered the same week, following which they will be commissioned ahead of commencing the Field Test in early October. The 'live' testing part of the Field Test is expected to last approximately four weeks.
We look forward to keeping shareholders updated on the progress and results of the Field Test.
John Potter, CEO commented: "The team has put in a lot of work to get all the elements of the Field Test in place and on time, and I am looking forward to being on site with the team shortly. The interest the Field Test has generated bodes well for the next stages in taking the technology to a commercial level."
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
SVS Securities plc (Broker)
Tom Curran / Ben Tadd +44 (0)20 3700 0093
Lionsgate Communications (Financial PR)
Jonathan Charles +44 (0)20 3697 1209
For further information, please visit www.tomcoenergy.uk.com
This announcement contains inside information for the purposes ofArticle 7 of the Market Abuse Regulation (EU) No 596/2014.