TomCo Energy plc consists of two subsidiary companies:
The Oil Mining Company (100%) and TurboShale Inc. (80%)
TomCo holds five parcels of land which relate to two separate Mineral Leases, ML49570 and ML49571 respectively. All of these are in the Uinta Basin of Utah and together they cover a total land holding of 2,918.84 acres. They are also underlain by the Green River Shale Formation, which is the largest known oil shale deposit in the world.
One of the TomoCo parcels of land covered by ML49571 is in part of an area termed the Holliday Block A and has obtained a JORC Measured Resource of 126 million barrels of recoverable oil.
Incorporated in 2017, TurboShale is the Group’s technology development company. It has acquired from JR Technologies, LLC (JRT) two key patents for an oil shale extraction technology, proven from a technical feasibility perspective, which demonstrated the benefits and efficacy of using a process involving the use of radio frequency (“RF”) in the extraction of oil & gas from oil shale. The Company believes that this relatively low-cost and environmentally benign disruptive technology has the potential to unlock TomCo’s oil shale assets.
TomCo completed nine drill holes on the Holliday Block
SRK Consulting (UK) Ltd reported a JORC Indicated Resource of 123 million barrels of oil on the Holliday Block
SRK Consulting reported a JORC Measured Resource of 126 million barrels of contained oil on the Holliday Block
Epic Engineering completed a Road and Access Study, a High Resolution Topographic Study and a Boundary Survey of the Holliday Block
TomCo submitted a Notice of Intention to Commence Large Mining Operations to the Utah Division of Oil, Gas and Mining
The Utah Division of Oil, Gas and Mining approved the Notice of Intention to Commence Large Mining Operations
Construction permit relating to the Company’s Ground Water Discharge Permit extended until July 2020
TurboShale acquired patents for in-situ RF Heating and Subsurface Multiple Antenna Radiation Technology (SMART)