LONDON (ShareCast) - (ShareCast News) - AIM-listed oil investors TomCo announced on Tuesday that it had made further progress in its initial agreement with JR Technologies (JRT) and Venture Development Partners to assist the firm to develop and implement new oil shale processing technology.
JRT said it had agreed to waive the final condition of its patent sale and development agreement, which stated that TurboShale, TomCo's oil shale subsidiary, would need to complete fundraising before any agreement could be finalised.

JRT then proceeded to transfer the US patent of its B2 method and apparatus for in-situ radiofrequency heating to Antenna Radiation and TurboShale.

TurboShale was said to have commenced laboratory work on the project, which included preparation and preservation of the provisional patent project.

As of 1405, shares in Tomco had dropped back slightly to 5.10p, down 2.86%.

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