TurboShale, a Utah company incorporated in 2017, in partnership with JRT, has acquired a process which builds upon the use of Radio Frequency (RF) to produce oil from oil shale.

The technology can be compared to a previous multimillion dollar RF test programme (the “BART Programme”) conducted in the early 1980s at a site in the same Uinta Basin as, and within approximately 20 miles of, TomCo’s Holliday A Block, Utah.

During 2018 and 2019, TurboShale ran a field test programme at the Company’s Holliday A Block, which was intended to prove the ability to recover oil from the oil shale using TurboShale’s RF technology. Due to the travel restrictions as a result of the Covid-19 pandemic, the 2020 field test has been postponed. The Company will continue to explore its potential with laboratory based testing until a field test can be planned.

The BART (Badger, Raytheon and Texaco) Programme applied RF energy to fracture and retort in-situ oil while using conventional oil and gas field techniques to recover oil production.

Historic laboratory testing, analysis and field testing at BART’s Utah site have resulted in a better understanding of the fundamentals of oil shale, which are proving invaluable to TomCo’s current programme.

The Directors believe the results of the 1980s BART Programme were very encouraging – demonstrating low operating and production costs, with a good quality oil.