igasplc.com
The company explores and develops gas and oil reserves at onshore locations in the northwest of England, in north Wales, in the East Midlands and in southern England.
With almost a decade of experience in onshore drilling, IGas is able to exploit prolific and lower-cost hydrocarbon reserves which contribute to Britain’s energy security while at the same time delivering value to IGas investors.
IGas Energy: CFO and COO buy shares in company
UK-focused gas producer IGas Energy (LON:IGAS) revealed today that its chief financial officer and chief operating officer had bought shares in the firm.
Yesterday (November 23), finance chief Stephen Bowler purchased 40,000 company shares at 51.25 pence per share for £20,500 and now holds around 0.02 per cent of the share capital.
Meanwhile, John Blaymires, the chief operating officer, on the same day, acquired 20,000 company shares, also at 51.25 pence - costing £10,250.
Blaymires now holds around 0.01 per cent of the firm.
Yesterday, IGas shares resumed trading on AIM having been temporarily suspended since September 19 this year when it announced a reverse takeover of Star Energy Group.
The firm also announced today that it had made “significant progress” in recent months, after getting three wells in its current drilling campaign underway.
On September, IGas said it would drill between four and six wells by the second quarter of its 2012 financial year.
Yesterday, it said three wells have been completed, or are underway. Its DG-3 well at Doe Green, near Warrington, has drilled 1,500 feet of coal, while DG-4 spudded on October 10 and its Ince Marshes project, also in Cheshire, spudded on November 4.
IGas is currently operational at four sites: DG-3, DG-4, Ince Marshes and Ellesmere Port. Site construction is also underway at Barton, Salford.
Meanwhile, on December 9, the company plans to hold a ‘general meeting’ in London at which it will seek shareholder approval for the £110 million acquisition of Star Energy Group from Petronas International Corporation.
