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IGas Energy hires new CFO

Separately an AGM statement highlighted 'progress in spite of oil price volatility'

IGas Energy (LON:IGAS) has appointed Julian Tedder as its new chief financial officer.

Tedder, who has held senior management experience at Tullow Oil and Centrica, will join the company on September 28.

"We are delighted that Julian will be joining the board,” said Francis Gugen, IGas’s chairman.

“His wealth of experience in the sector, most recently at Tullow Oil where he was part of the team that grew the business from being an explorer to a significant international oil and gas company operating with multiple partners, will complement IGas' existing leadership very well.

“We all look forward to him being part of the IGas leadership during the next phase of the company's growth."

Separately, IGas released a statement ahead of today’s AGM in which Gugen highlights that the company continued to make progress in spite of ongoing oil price volatility.

Much of the attention will no doubt be on the group’s UK shale gas plans.

On this matter, Gugen said: “We are progressing our five year shale development plan, which we set out at the full year results, in conjunction with our partners.

“In the near term, we are moving ahead with our planning application for two wells at the Springs Road site in the East Midlands. Across the Pennines, in the North West, we are undertaking a 3D seismic survey that will give us essential data to further inform near term site selection.”

Gugen also ‘welcomed’ clarity provided by the UK government regarding the timetable for planning applications and that the authorities see that shale development should be treated ‘as a national priority’.