Drilling Update - NW England

RNS Number : 6781P

Igas Energy PLC

21 August 2014

 

21 August 2014

IGas Energy plc

("IGas" or "the Company")

Drilling Update - NW England

IGas (LSE: IGAS), one of the leading producers of onshore hydrocarbons in the UK, is pleased to announce that it has secured a rig to drill the Ellesmere Port exploration well which is expected to spud in late 2014. 

A comprehensive community engagement programme has commenced.  Further details can be found at www.igas-engage.co.uk.

The Ellesmere Port well, which is a straight vertical exploration well, will be the third such well in a sequence designed to give IGas a suite of results from three wells distributed across its licenced areas in the North West.   The second of these wells drilled at Barton Moss and completed in Q1, 2014, is currently being evaluated.  The core analysis has commenced and full results will be available after the 14^th Licence round applications have been submitted.

The exploratory work undertaken to date together with offset well data has given the Company sufficient information to be able to design an appropriate hydraulic fracture program for wells in the area. This will prove invaluable for future planning applications for potential shale wells and the ability to demonstrate the commerciality of gas extraction from these deep formations. 

Commenting Chief Executive, Andrew Austin, said

"We are delighted to have secured a suitable rig for our exploration well at Ellesmere Port.  This well, similar to the one we successfully drilled at Barton Moss earlier this year, is to further appraise the geology in the North West and another step in unlocking Britain's onshore energy resources."

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For further information please contact:

IGas Energy plc	Tel: [phone]
Andrew Austin, Chief Executive Officer Stephen Bowler, Chief Financial Officer Ann-marie Wilkinson, Head of Communications
Jefferies International Limited	Tel: [phone]
Sara Hale  Canaccord Genuity Tim Redfern	Tel: [phone]

MHP

Rupert Trefgarne                                                                    Tel: [phone]

 

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