IGas (IGAS.L) 58p £71m IGas announced it has received final planning approvals and is moving to the execution phase for a waterflood project, at its existing producing field at Scampton in the East Midlands. As announced in the AGM Trading Update on 14 May 2019, the Company continues to progress projects in its core conventional business which include additional gas monetisation and water injection. The Scampton Waterflood Project will convert an existing well to a water injector to increase oil sweep and field estimated ultimate recovery by implementing secondary recovery (water-flood) in the western portion of the Scampton North field. The recent D&M CPR estimated 239Mbbl of incremental 2P (Probable Undeveloped) reerves for this project and our estimated mid-case project economics have an IRR of over 40% and a NPV of £2.5 million. The total cost of the project is c.£2.0 million, the majority of which will be incurred in the next 12 months, with resultant incremental production of c.100 bopd.
IGas Energy IGas has received final planning approvals for and moves to execution phase of a waterflood project at its existing producing field at Scampton, East Midlands. The company will now move forward with ‘a low-risk opportunity with an estimated IRR of over 40%’.
IGas Energy Plc (IGAS.L) Announced that the Scampton Waterflood Project will convert an existing well into a water injector to increase oil sweep and field estimated ultimate recovery by implementing secondary recovery (waterflood) in the western portion of the Scampton North field.
IGas is pleased to announce it has received final planning approvals and is moving to the execution phase for a waterflood project, at its existing producing field at Scampton in the East Midlands. The recent D&M CPR estimated 239 Mbbl of incremental 2 P reserves for this project and our estimated mid-case project economics have an IRR of over 40% and a NPV of...
Igas Energy Plc (IGAS.L) Announced the appointment of Hans Årstad as a Non-Executive Director of the Board with immediate effect, exercising the right of KKR to take a seat on the Board. KKR owns 14.7% of IGas through KOG Investments S.A.R.L.
RNS Number: 6684 Z Igas Energy PLC 21 May 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 6242 Z Igas Energy PLC 21 May 2019 THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION. IGas is pleased to announce the appointment of Hans Å rstad as a Non-executive Director of the Board with immediate effect, exercising the right of KKR to take a seat on the Board. KKR owns 14.7% of IGas through KOG Investments S.A.R.L..
RNS Number: 4038 Z Igas Energy PLC 17 May 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 2712 Z Igas Energy PLC 16 May 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 0084 Z Igas Energy PLC 14 May 2019 IGas Energy plc. RESOLUTIONS PASSED AT ANNUAL GENERAL MEETING. IGas Energy plc announces the result of voting on the resolutions at its Annual General Meeting held on Tuesday 14 May 2019, as set out in the AGM notice..
RNS Number: 8851 Y Igas Energy PLC 14 May 2019 THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION. Net production for the year is still anticipated to be c. 2,200- 2,400 boepd for the full year and operating expenditure of $32.5/ boe. NPV10 estimate is $220 million at $70/ bbl long term Brent crude price; equating to c.140 pence per share. 1.
RNS Number: 3733 X Igas Energy PLC 29 April 2019 29 April 2019. The Company announces that an application has been made to the London Stock Exchange for a total of 71,679 Ordinary Shares of 0.002 p each to trade on the AIM market of London Stock Exchange under the IGas Energy plc Share Incentive Plan. Subject to admission, the SIP Shares will be held by Equiniti Share...
RNS Number: 6662 V Igas Energy PLC 09 April 2019 9 April 2019. Annual Report for the Year Ended 31 December 2018 and. Notice of Annual General Meeting.
IGas Energy (IGAS.L) 73.2p £90.37m Cash balances as at 31 Dec 2018 of £15.1m and net debt of £6.4m Net cash generated from operating activities for the year was £12.9m (2017: £6.7m), after oil hedge payments of £5.5m Improved underlying profit of £4m (2017: £1.3m). Loss after tax of £21.4m due to non-cash exploration write-offs, principally in relation to the Doe Green long-term test, of £29.1m (2017: Profit after tax of £15.5m due to tax credit of £19.1m) Carried work programme of up to $220m (£170m) as at 31 Dec 2018 525,000 barrels hedged for 2019 with an average put price of $58.5/bbl "As shown by the 200% reserves replacement in 2018 there is still significant upside in our conventional portfolio and we look forward to bringing projects to final investment decision o v er th e com i ng months.”
Igas Energy Plc (IGAS.L) Announced, in its full year results for the year ended 31 December 2018, that its total revenue stood at £42.9 million, compared to £35.8 million in the preceding year. Loss after tax was £21.3 million, compared to profit of £15.8 million. The company’s diluted loss per share was 17.56p, compared to earning per share of 12.46p.
Egdon Resources plc (EDR LN)# Egdon Resources plc (EDR LN) has reiterated an update by the operator IGAS Energy plc (IGAS LN), regarding the Springs Road-1 (SR-01) well in which it holds a 14.5% interest. IGAS reports that SR-01 reached a total depth of 3,500 meters and encountered the intended targets, the Bowland Shale, the Millstone Grit and the Arundian Shales. As previously reported on 11 March 2019, preliminary analysis showed a hydrocarbon bearing shale of over 250 meters was encountered within the upper and lower Bowland Shale. Further significant quantities of gas were observed in the Millstone Grit, Arundian Shale and lower Bowland Shale. Petrophysical and core analysis is currently being conducted and are due for completion results are expected in Q2 2019. These results have broader significance for EDR which holds a net 82,000 acres in the Gainsborough Trough. Positive results from Springs Road would open up the play providing a catalyst for a potential rerating of the shares which remain deeply undervalued, in our view. Our conservative valuation approach based on prior transactions for UK shale US$787/acre results in a risked NAV/sh. value for the Gainsborough Trough exposure of 5.9p/sh out of our total EDR shale acreage valuation of 13.5p/sh. This, in our view, is clearly not reflected in the current share price. We reiterate our Buy recommendation and 46.7p target price. #Indicates VSA house stock.
In order to better align the interests of Directors, Persons Discharging Managerial Responsibilities and other key employees of the Group with those of shareholders, the Board of the Company has again determined that annual bonuses in excess of £30,000 will be paid to recipients in a combination of both cash and restricted stock. The Company announces the...
IGas, one of the leading producers and explorers of hydrocarbons onshore in Britain, announces its full year results for the year ended 31 December 2018.. Operating costs for the year were $31.9/ boe. We currently anticipate net production of between 2,200- 2,400 3 boepd in 2019 and operating expenditure of $32.5/ boe.
RNS Number: 2045 U Igas Energy PLC 27 March 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 2036 U Igas Energy PLC 27 March 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
IGas Energy Plc
IGAS.L
IGas Energy Plc
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Company Profile

IGas Energy plc is a leading British onshore oil and gas exploration and production business

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HQ
7 Down Street
London
W1J 7AJ
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