viewIGas Energy Plc

IGas chief 'looking forward to getting on' with East Midlands drilling

Stephen Bowler, chief executive of IGas Energy Plc (LON:IGAS) runs through with Proactive their drilling plans in the East Midlands for 2017.

Bowler also mentions they're looking at sites in England's north west for further projects.

The group's recent financial restructuring was also touched on.

They've exchanged US$40mln of debt for new equity, in addition to a US$49mln bond buy-back as well as amendments being made to the terms for the remaining US$30mln of bonds.

Quick facts: IGas Energy Plc

Price: 15.57 GBX

Market: AIM
Market Cap: £19.08 m

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IGas is a 'diverse business with lots of opportunities' says CEO Bowler

Onshore UK focused IGas’s (LON:IGAS) production currently is 850,000 barrels per year, but that is dwarfed by its shale acreage in the East Midlands. This compares favourably with major shale plays in the US, says Bowler, who believes the reserves are sufficient to provide all the UK’s gas...

on 17/10/19

2 min read