4th Jul 2019 16:13
(Alliance News) - TomCo Energy PLC on Thursday said the well casings for its field test at the Holliday A Block in Utah will arrive later than expected and so the drilling of the wells will be delayed by two weeks.
Shares in TomCo were down 11% at 5.29 pence in late afternoon trade.
On Monday, US oil shale exploration firm TomCo had predicted it would start drilling next week but the field test wells are now due to be drilled in the week starting July 22, two weeks later.
This is because the well casings aren't due until the end of next week.
"The company confirms that this will not affect the start of the field test, with the the field test team still arriving on site the week commencing 29 July, with the commencement of the field test in early August," said TomCo.
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