Stocktube video
22/05/2014

Malcolm Graham-Wood reflects on recent UK shale M&A

View full size
Additional Information
Market: AIM
Sector: Energy
EPIC: IGAS
Latest Price: 112.75p  (0.67% Ascending)
52-week High: 164.50p
52-week Low: 98.00p
Market Cap: 232.52M
1 year chart More charts
Deal IGAS Tax Free*
*subject to change and depends on individual circumstances.
1 day chart More charts
Advertisement
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
IGas Energy Plc
igasplc.com
Deal IGas Energy Plc Tax Free* Losses can exceed
your initial deposit
*subject to change and depends on individual circumstances.

IGas Energy is a leading British oil and gas explorer and developer, producing approximately 3,000 barrels of oil and gas a day from over 100 sites across the country, with significant potential yet to be delivered from our assets.IGas has played a key role in Britain’s onshore energy production; safely exploring, developing and...

Read more
Pdf

IGas Energy says Cheshire shale reserves more than double previous forecast

April 02 2012, 8:58am Shale reserves could be twice the independent pre-drill estimate of 4.6Tcf.

IGas’s (LON:IGAS) shale gas reserves at its Ince Marshes prospect in Cheshire could be double its previous estimates and it is now looking for a farm-in partner.

The energy group said that after looking at the data from its first well at the field, near Warrington, reserves could be twice the independent pre-drill estimate of 4.6Tcf.

Elsewhere, the group added that its coal bed methane (CBM) wells at Doe Green have started dewatering and are showing early gas, though the rates have yet to stabilise.

IGas said it had commissioned the export equipment and all three wells are now connected to the facilities. 

The company's production assets, bought in with the acquisition of Star Energy last year for £10 million, averaged production of 2700 barrels daily, 20 per cent ahead of CPR estimates, in the first three months of 2012.

A revised independent resource estimate on the conventional assets is expected by the summer.

It also intends to apply for planning permission to bring the Albury gas field in the Weald Basin on stream in 2013.

Part of Star Energy, Albury was suspended following the drilling of a well for potential gas storage use but IGas has now flow tested a well at the field, which produced at a rate of up to 1.5 MMscf/day (260 boe/d).

Andrew Austin, chief executive, said: "Ince Marshes-1 is a particular highlight, potentially at least doubling the independent pre-drill estimate of 4.6Tcf of shale resource. 

"Our shale potential offers a significant opportunity for the company and to potential partners, in addition to our CBM resource base of over 300 million boe. 

"The UK Government's announcement about a new gas generation strategy and the support given in the budget to the industry are all signs that UK sourced hydrocarbons are going to play an increasingly important role in the future energy mix of the country."

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.