TomCo Energy PLC Quadrise Testing Update (6878M)
September 23 2021 - 2:29AM
UK Regulatory
TIDMTOM
RNS Number : 6878M
TomCo Energy PLC
23 September 2021
23 September 2021
TOMCO ENERGY PLC
("TomCo" or the "Company")
Quadrise Testing Update
TomCo Energy plc (AIM: TOM), the US operating oil development
group focused on using innovative technology to unlock
unconventional hydrocarbon resources, is pleased to note the
announcement made earlier today by Quadrise Fuels International plc
("Quadrise") providing an update on its testing of a produced oil
sample supplied by TomCo's 100% owned subsidiary Greenfield Energy
LLC ("Greenfield") taken from the Petroteq Oil Sands Plant ("POSP")
during Greenfield's operation of the POSP.
Quadrise has reported that an extensive programme of testing on
the Greenfield oil sample was completed at the Quadrise Research
Facility ("QRF") in Essex on schedule, and a report has now been
issued to Greenfield.
Quadrise noted that the ability to produce commercial MSAR(R)
and bioMSAR(TM) fuels from the produced oil has been confirmed from
its testing. Simulations of storage and handling of both fuels were
also completed during the programme. The testing at the QRF
confirmed the suitability of the heavy sweet oil for the commercial
production of MSAR(R) and bioMSAR(TM) fuels in Utah for potential
power and marine end-user applications domestically and
internationally.
Quadrise further noted that this testing concludes the
proof-of-concept work that was scheduled in Phase 1 of the
Commercial Trial Agreement between Greenfield and Quadrise
announced on 18 August 2020. TomCo will now review the report and
it is expected that Greenfield and Quadrise will enter into
discussions regarding potential future trials and deployment of the
technology to produce MSAR(R) and/or bioMSAR(TM) fuel at a
commercial scale.
Commenting, John Potter, CEO of TomCo, said : "We are delighted
that Quadrise has now completed its testing programme. We are
encouraged by the positive confirmations issued by Quadrise today
and we look forward to continuing to work with Quadrise as we
progress our plans for Greenfield."
Enquiries :
TomCo Energy plc
Malcolm Groat (Chairman) / John Potter (CEO) +44 (0)20 3823 3635
Strand Hanson Limited (Nominated Adviser)
James Harris / Matthew Chandler +44 (0)20 7409 3494
Novum Securities Limited (Broker)
Jon Belliss / Colin Rowbury +44 (0)20 7399 9402
IFC Advisory Limited (Financial PR)
Tim Metcalfe / Florence Chandler +44 (0)20 3934 6630
For further information, please visit www.tomcoenergy.com .
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END
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