Iofina


Iofina plc is the holding company of a group of companies involved in the exploration and production of iodine and natural gas which has been discovered on acreages that the Group has acquired and is currently acquiring.

The Company uses its strong knowledge of chemistry, financial markets, economics and experience in oil and gas E&P, to help enable the co-production of other elements from brine streams associated with natural gas.  Dual revenue streams on a single cost structure, enables Iofina to have a competitive advantage. The Company’s marquee field it discovered is the Atlantis Field, located in the state of Montana, USA.  The natural gas co-exists with brine within the aquifer, which contains relatively high iodide dissolved concentrations.

Iodine is a rare mineral which the US currently imports to meet growing domestic demand from pharmaceutical and industrial manufacturers.  The management team has extensive experience in the iodine and the iodine derivates markets. The leases held by the Group give it the right to explore, drill and produce both iodine and natural gas.  The company uses its exclusive Wellhead Extraction Technology ™ to extract the iodine and iodides cost effectively at the wellhead.  The Directors plan on applying the Company’s expertise to other prospects throughout the world.

Iofina closes the development and production gap

Wednesday, July 16, 2008 by proactiveinvestors.co.uk
Iofina (AIM:IOF) the natural gas and iodine exploration and production company, updated the market on its Atlantis Prospect in Montana USA. The group now has a total active, and pending, land bank position of over 60,000 net acres; representing an increase of 117% over the 28,000 acres disclosed in the Company’s AIM admission document.

In the update, Iofina also highlighted the completion of the expanded Iofina Express pipeline, which has a capacity of up to four million cubic feet per day representing a 33% increase over previous capacity. The group has also secured additional drill rigs for this fall and the spring of 2009 to enhance Iofina’s drilling schedule. Iofina also announced purchases of significant new drilling equipment.

David Schneider CEO commented:

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“We have been pleased with progress at our Atlantis project since our IPO on AIM in May this year. A number of key milestones have been delivered under budget which is a testimony to the Iofina team. The pipeline extension and expansion has now been completed, the stripping facility delivered, the rigs and completion equipment purchased and the technology proven, and against this backdrop we also continue to add substantial value to our reserves through further acreage acquisitions. We believe that the Group is now well positioned to move from development stage to production.”

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Additional Information

Market:AIM
Sector:Energy
EPIC:IOF
Latest Price: 25.00p  (0.00%)
52-week High:90.75p
52-week Low:22.25p
Market Cap:26.30M

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