STOCK WATCH

SHARES in TomCo Energy spiked after the firm announced a field testing programme to prove its oil extraction technology can be a commercial success.

The firm’s Turbo Shale technology uses radio frequencies to extract oil from oil shale.

It will test it in the field at its Holliday block site, in Utah, over the next four to six months.

If successful, the AIM-listed firm says it might licence the technology. Shares rocketed 56.5pc, or 0.98p, to 2.7p.