IGas is a leading onshore hydrocarbon producer in the United Kingdom, with almost a decade of experience, delivering natural gas and crude oil to Britain’s energy market. They hold licences to extract hydrocarbons across the north of Wales and the north of England covering an area of approximately 1,455 sq km. Independent analysis has confirmed that the company has an estimated net Contingent Recoverable Resource to 1,811Bcf of gas.

But what I find exciting about this company is that:
They also have the potential to explore shale gas. They have identified a significant potential shale resource within their acreage, which is estimated (on an unrisked basis) to comprise up to 4.5 trillion cubic feet of gas.

The government last week lifted an 18-month ban on fracking, the controversial method used to extract shale gas. The British Geological Survey is expected to publish research next month that will vastly increase the estimate of Britain's potential shale gas resources.

Exxon Mobil has entered talks to buy a stake in the Bowland shale project in Lancashire, owned by IGas. It is believed that Shell, Total of France, and Norway’s Statoil are also considering bids.

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I reckon we could see some significant growth in shareholder value here in the next few years - albeit to the detriment of the environment. However, with potential revenues going to the government coffers, we are likely to see shale gas being developed as an energy source in the UK.

Well done Toya. :-))

UPDATE: IGas shares soar amid reports of Exxon shale talks
12:45 pm by Giles Gwinnett and Jamie Ashcroft IGas is positioned to be among the early movers following its shale discovery in Cheshire, within the Bowland shale play, almost a year ago

---Adds updated share price and comments from oil and gas analyst Malcolm Graham-Wood---

IGas (LON:IGAS) shares jumped almost 14% in today amid speculation that major international oil firms are lining up farm-in offers for its British shale gas projects.

US goliath ExxonMobil is leading the chase ahead of other interested parties including Shell, Statoil and Total, according to a report in the Sunday Times.

This comes after the UK government lifted a ban on fracking – or hydraulic fracture stimulation – last week, paving the way for a new potential energy boom in the north west of England.

IGas is positioned to be among the early movers following its shale discovery in Cheshire, within the Bowland shale play, almost a year ago.

In April, IGas launched a process to find a partner for the venture but the ban on fracking, which is an essential element in the exploration and production of hydrocarbons trapped in shale, had been a barrier to securing a deal.

The exploitation of shale gas has in the past decade turned the US energy market on its head, driving gas prices down by as much as three-quarters, and it is believed that unlocking the unconventional hydrocarbon could have a significant impact on prices here too.

Malcolm Graham-Wood, oil analyst at VSA Capital, told Proactive that the prospect of Exxon potentially coming in was the "most exciting" aspect of the news.

"Not just because because it's the mighty Exxon but because its got the expertise of buying into shale in America pretty early."

Exxon's size also means it could put any sum down and "if it didn't work out, they could 'just write it off to experience' ", he added.

"It would give quite a lot of credence to the whole shale gas play in the UK."

In a note this morning the analyst says IGas should now "kick-on having remained in a narrow trading range since May. This is one of few pure plays offering long term value".

Last week’s decision to allow fracking comes after an eighteen month moratorium.

Privately owned oil and gas firm Cuadrilla had to stop operations after its fracking programme caused minor earthquakes in the Fylde, Lancashire.

In July, a review by the Royal Society and the Royal Academy of Engineering concluded that the health, safety and environmental risks of extracting of shale gas by fracking can be managed effectively by a tightened regulatory approach.

Cuadrilla has unearthed a significant shale gas discovery, within the Bowland Shale basin.

Estimated at 200 trillion cubic feet the discovery could potentially supply gas into the UK for several decades.

It all centres upon unconventional gas resources, which are found trapped among layers of shale rocks. To unlock the gas the small gaps in the shale have to be opened - or fractured (hence "fracking").

A mix of water, sand and chemicals is injected under high pressure into the shale. This opens up, and holds open, fractures in the shale and allows the gas to flow through the well to surface.

Because of the UK government decision, Cuadrilla can now press ahead with its appraisal and testing of the Bowland shale discovery, as well as pursue other prospects in the UK.

Thanks for adding that extra info Dreamcatcher - I had a hunch this one might appeal to you :) And it's certainly taken off today!

LOl, any more hunches, we are listening.

Another 2.5% today, not gone unnoticed lol.

Why the drop today, bounce into black, tax breaks to come in march ???

DC: only just seen you pic lol!! - didn't seem to show itself last time I logged in.

I think the drop is just a pull-back, as would be expected after the very dramatic rise at the start of the week.

This was issued today: 'Jefferies raises price target to 105p from 85p; rating buy'.
Longer term though, this should be a multi-bagger for those prepared to hang around.

An after thought for the pic. lol

Just seen this upgrade, too:
'Canaccord Genuity raises target price to 105p from 100p; rating buy' - not a big increase but nevertheless...

Close on a 10% rise today, good going.

Saturday, December 22, 2012
Weekly oil news summary including IGas, Gulfsands Petroleum, Petro Matad and Sound Oil






Once again IGas (LON:IGAS) was in focus this week and its shares jumped almost 14% amid speculation that major internationals were lining up farm-in offers for its British shale gas projects.

US goliath ExxonMobil is leading the chase ahead of other interested parties including Shell, Statoil and Total, according to a report in the Sunday Times.

It comes after the UK government lifted a ban on fracking – or hydraulic fracture stimulation – a week earlier, paving the way for a new potential energy boom in the north west of England.

IGas is positioned to be among the early movers following its shale discovery in Cheshire, within the Bowland shale play, almost a year ago.

Malcolm Graham-Wood, oil analyst at VSA Capital, told Proactive that the prospect of Exxon potentially coming in was the "most exciting" aspect of the news.

"Not just because because it's the mighty Exxon but because it’s got the expertise of buying into shale in America pretty early," he said.

Maybe getting a bit ahead of it's self?

Just out of auction @105.25 +9.1%

It will pull back, for sure. But it's one to buy into for the longer term, in my view.

I thought it would pull back - instead, this look ready to explode!

Here's some info from an RNS issued 20 December, which I didn't get around to posting at the time:

IGas Energy bounced into the black in the six months to the end of September with underlying pre-tax profits of £8.2m against a loss of £1.1m a year ago.

The group reports revenues of £33.4m against nil last time and underlying operating profits of £12.7m compared with a loss of £1.3m previously.

Chief executive Andrew Austin said: "We are pleased to announce a positive set of results, with growth in reserves, material cash flow and strengthening of the balance sheet. "The lifting of the restrictions on fracking also means that we are now able to advance our shale assets."

Happy new year Toya and well done on this one.

Thanks Dreamcatcher - Happy New year to you too!

Skinny: I find myself humming that nursery rhyme quite often these days lol :)

RNS issued yesterday, just so you know:

"IGas notes the press speculation this morning around a potential equity fundraising. The Board keeps all forms of financing under review and will update the market in due course."

IGas have today announced their proposed placing of up to 24.3m shares at 95p, representing approximately 15 per cent of the Company's existing issued share capital. It is expected that trading in the Placing Shares will commence on 18 January 2013.

For the full RNS and background details click on the link below:
IGas Proposed Placing of up to 24.3m Shares

Always believe in rumours lol! (see earlier post)

A 20% drop today then.

RESULTS OF PLACING

IGas Energy plc announces the placing of 24,330,730 new ordinary shares at a placing price of 95 pence per share

IGas Energy plc ("IGas" or the "Company") is pleased to announce the successful completion of the placing announced earlier today (the "Placing"). A total of 24,330,730 new ordinary shares (the "Placing Shares") have been placed at a price of 95 pence per Placing Share (the "Placing Price"), with new and existing institutional investors. Based on the Placing Price and the number of Placing Shares, the gross proceeds of the Placing will be £23.1 million. The Placing Shares being issued represent approximately 15 per cent of the expected enlarged issued ordinary share capital of the Company.

The Placing Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of 10 pence each in the capital of the Company, including the right to receive all dividends and other distributions declared, made or paid on or in respect of such shares after the date of issue of the Placing Shares.

The Company has made an application for admission of the Placing Shares to trading on AIM, a market operated by the London Stock Exchange plc ("Admission"). It is expected that Admission will take place and that trading in the Placing Shares will commence at 8.00 a.m. on or around 18 January 2013.

how to duff up the PIs ands laugh all the way to the bank

IGas Energy has completed its acquisition of PR Singleton from Providence Resources.

Chief executive Andrew Austin said: "The acquisition of PR Singleton Limited plays an important role in further consolidating our position as a leading onshore oil and gas company across Britain, giving us a material increase in reserves and production."

IGas Energy plc ("IGas" or the "Company") is pleased to announce the arrangement of a five year, USD 165 million senior secured bond issue. The bond issue will carry a fixed interest rate of 10% p.a. and semi-annual amortisation of 2.5% of the initial loan amount. The purpose of the bond issue is to refinance the Company's existing debt and for general corporate purposes.

Just had a punt here.

SP moving up nicely today market recognising their potential.

zak gives it a thumbs up today

UK has huge shale gas resources, energy firm says

One of the energy firms hoping to exploit the UK's resources of shale gas says it may be sitting on significantly more gas than previously thought.

UK firm IGas will tell investors there may be up to 170 trillion cubic feet of gas in the areas it is licensed to explore in northern England.

sp up 12% today to 105p, more to come?

Thanks to Toya, Skinny and Halifax for flagging this one. I'm doing well since entry yesterday!

care may be required, read letters section of Shares mag suggesting fracking is part of a "Ponzi" type scheme, apart from being hugely expensive.

From Friday :- Canaccord Genuity Buy 124.38 125.00 150.00 Reiterates

Broker SP Targets......

Looks way undervalued at the moment.

Date Company Name Broker Rec. Price Old target price New target price Notes

21 Jun 13 Igas Energy PLC Jefferies International Buy 123.25 105.00 195.00 Retains
14 Jun 13 Igas Energy PLC Canaccord Genuity Buy 123.25 125.00 150.00 Reiterates
04 Jun 13 Igas Energy PLC Goldman Sachs Buy 123.25 146.00 202.00 Upgrades
28 Sep 12 Igas Energy PLC Numis Buy 123.25 151.00 151.00 Retains

N@P building Society.

Fracking boss of IGAS was on Newsnight tonight.

Should give stock a push in days to come.

Broker Note Out......

28 Jun 2013 Igas Energy PLC IGAS Jefferies International Buy 118.13 121.75 195.00 195.00 Retains

SP TARGET.... 195p.

Well worth watching - particularly the last 20 minutes or so.

Fracking: The New Energy Rush

IGas (LSE: IGAS), one of the leading producers of onshore hydrocarbons in the UK, will announce preliminary results for the year ended 31 March 2013 on Wednesday, 10 July 2013.

Missed earlier.

Final Resuts

Operational Highlights

· Acquisition of P. R. Singleton from Providence Resources for US$66m
· Progress on "Chase the Barrels" initiative
· Proven reserves growth of 30% from 6.1 to 7.9 MMboe over the period 1 Jan 2012 to 30 June 20121
· Gas Initially In-Place "GIIP" for NW shale acreage up to 170Tcf2
· Drilling programme to commence in Q4 2013 to refine estimates
· Government package of community incentives, guidelines on permitting and planning and launches consultation on tax incentives in support of the industry

Financial Highlights3,4

· Revenue of £68.3m (2012: £22.1m)

· Total Production c902mboe (2012: c280mboe)

· EBITDA5 of £31.9m (2012: £13.0m)

· Underlying operating profit6 of £22.1m (2012: £5.4m)

· Net cash from operating activities £28.9m (2012: used in operating activity £2.6m)

· Net debt7 of £77.4m (2012: £67.1m)

· Refinancing of Macquarie debt through $165m 5yr bond issue

· Successful placing of £23.1m gross in January 2013

Pretty poor responce from some good results.

Was expecting more.

their problem is its going to take many years to actually produce gas from fracking.

Study raises new concern about earthquakes and fracking fluids

NEW YORK | Fri Jul 12, 2013 8:30am BST
(Reuters) - Powerful earthquakes thousands of miles away can trigger swarms of minor quakes near wastewater-injection wells like those used in oil and gas recovery, scientists reported on Thursday, sometimes followed months later by quakes big enough to destroy buildings.

The discovery, published in the journal Science by one of the world's leading seismology labs, threatens to make hydraulic fracturing, or "fracking," which involves injecting fluid deep underground, even more controversial.

2013 Igas Energy PLC IGAS Canaccord Genuity Buy 114.75 114.75 150.00 174.00 Reiterates

SP TARGET 174p.

Nice Gold Cross with increased volume

Good gains today on government news indicating that they are desperate to get Fracturing up and running

Chart looks in break-out mode now; as well as the GC

United Utilities endorse fracking

They want a slice of the action

Sensible

Farm-out Agreement with Total E&P UK Limited

Farm-out Agreement with Total E&P UK Limited in PEDL139 and PEDL140

IGas Energy plc (AIM:IGAS) and its partners (Egdon Resources, Dart Energy and eCorp) are pleased to announce they have signed a Farm-out Agreement ("The Agreement") with Total E&P UK Limited ("Total"), a wholly owned subsidiary of Total SA, under which Total will acquire a 40% interest in the UK Onshore Petroleum Exploration and Development Licences PEDL139 and PEDL140 ("the Licences") located in the Gainsborough Trough in Lincolnshire. The Licences cover an area of 240Km2 and border PL178 and PEDL006 at Beckingham, an existing IGas producing field. IGas will become operator of the Licences upon completion.

Under the terms of the Agreement, Total will pay $1.6 million in back costs to the partners and fund a fully carried work programme of up to $46.5 million, with a minimum commitment of $19.5 million. At the end of the carried work programme Total will become operator of the Licences.

The programme will include the acquisition of 3D seismic; the drilling and testing of a vertical exploration well and associated well pad construction; and, conditional on the success of the testing of the exploration well, the drilling and testing of a second appraisal horizontal well.

On completion of the transaction the interests in the Licences will be: Total E&P UK Limited (40%), GP Energy Limited (a subsidiary of Dart Energy Europe) (17.5%), Island Gas Ltd (a subsidiary of IGas) (14.5%), Egdon Resources UK Ltd (14.5%), and eCorp Oil & Gas UK Ltd (13.5%).

Completion is expected to take place not later than 30th June 2014.

more...

Total news causing quite a fracas !...

Canaccord Genuity Buy 119.00 107.75 180.00 170.00 Reiterates

Director Share Purchase and Finance Facility

IGas (LSE: IGAS), one of the leading producers of onshore hydrocarbons in the UK, has received notification that the Chief Executive Officer, Andrew Austin, has purchased 300,000 ordinary shares in the Company ("Ordinary Shares") at a price of 135.38p pence each.

To fund the acquisition of shares Andrew Austin has entered into a loan facility, and has transferred up to 7.5 million shares as security. Andrew Austin is required to redeem the shares at maturity when the loan is repaid at the end of the three year term and it is his full intention to do so. Under the terms of the facility the lender is contractually prohibited from short selling or voting the shares during the term of the loan. The loan facility has been arranged by Meridian Equity Partners and the funding provided by Equities First Holdings, a securities-based capital provider for institutional and individual clients.

Following this purchase, Andrew Austin is interested in 10,967,075 Ordinary Shares representing 5.41 per cent of the issued ordinary share capital of the Company. The total issued share capital of the Company comprises 202,633,228 ordinary shares of 10 pence each.

- Ends -

Really is the rise of the gassy one !....rocketing...

More go than a tin of baked beans this morning...!...

Don't forget though, that when the beans have been digested and the wind expelled, you are just left with a pile of..........! ;o)

Well it's still rising.....more to come from this yet...

The SP is rising now on account of Total joining the party

In a couple of months time it might get steamy in anticipation of the Barton drill results

Barton Moor timeline



Should be an interesting summer

This share : it's a gas !....now why do I keep on humming "Blondie" all the time....

You want the B side of Jeepster by T Rex.

Crumbs...what's that ?...know T Rex...but...

T.Rex - Life's a Gas

Yes...of course.....I remember now....

Out of this now...as too volatile...

Yes, I'm out as well with some profits. One of my 6 in profit shares. Might get back in again as the government seems to be backing this fracking business.

Volatility and shenanigans reminiscent of a share called Tadpole, if anyone remembers...!

You were a Taddy ?....

I'm staying in -- Top heavy too !!

RF: Tad helped me jump many poles without stumbling, thank goodness.

I was keen but ended up with losses...thank goodness the likes of Amstrad and a few others were around to offset those...

RF: seems realism has arrived, after the early birds
flew away with their pickings.

I have sold quite a few stocks lately...good ones at that (I don't mean shorting).....it just seems a lot of profit taking is going on across the board...not with every stock though because FPM, PDL, PET and a few others are all rising....in this market : I've learnt that you just have to sell at some stage and come back later...

FPM is drilling rf, so can't see anyone selling pre-TD. Spend wisely with your slush fund! Some good div payers out there even if the capital growth is slow. Maybe when QE kicks in properly that equities will be less attractive for a while, so holding back some cash may be wise?

I have no hesitation in selling if I have too....even at a bad loss....but I think this year will be better than the last few...we shall just have to be careful with the stock picks...and timing is essential...l

http://www.telegraph.co.uk/finance/newsbysector/energy/10595626/Fracking-too-late-to-help-businesses-facing-rising-green-energy-costs-manufacturers-tell-Prime-Minister.html

Completion of Farm-out Agreement with Total E&P UK Limited

Further to the announcement of 13th January 2014, IGas, one of the leading producers of onshore oil and gas in the UK, today announces the completion of the farm-out agreement with Total E&P UK Limited.

IGas will assume operatorship of the licences with immediate effect.

PEDL139 and PEDL140 are located in the Gainsborough Trough in Nottinghamshire and South Yorkshire. The Licences cover an area of 240Km2 and border PL178 and PEDL006 at Beckingham, an existing IGas producing field.

All of the necessary consents and approvals have now been received from DECC including IGas's operatorship of the Licences.

- Ends -

Exploration Drilling and Operational Update

Doing the Biz this day
Gold Cross still intact

Look

Broker Upgrade

News due Monday - regarding fracking in the UK - ahead of which the politicians are shifting their ground so as not to lose votes in their own local seats by being caught on the wrong side of the debate. I expect to exit my short ahead of the evening vote if the price falls heavily during the day.

BREAKING: The former Tory environment secretary, Caroline Spelman, has called for a ban on fracking in the UK.


'Spelman’s demand for a halt to fracking was made in an amendment to a controversial government bill on which MPs will vote on Monday. ‬
The amendment, which has the backing of half the MPs on the EAC (Environmental Audit Committee), calls for a “moratorium on the hydraulic fracturing of shale gas deposits in order to reduce the risk of carbon budgets being breached.” This “reflects the conclusions” of an EAC inquiry which will be published on Monday 26 January.

Dodgy Spelman obviously has no "interest" in Fracking then.

IGAS shares unpopular this morning. Down 25% at the moment. Lost 7/8 of their value since peaking at 160p and now testing 20p

They peaked at over £8 !!

This probably isn't helping - MPs: Ban fracking to meet carbon targets

If IGAS shares get suspended, shareholders may find themselves unable to dispose of holdings for weeks or months. That's an unfortunate position to get into (Been there, done that - had capital tied up in a failed stock for 3 months and eventually got only a tiny fraction back).

Today's fall is on huge volume. Biggest since last July (July 8) when major 100p fall began.

well spotted on friday ...... i was clearly asleep
diff to know if there's enough meat left to make it still worth shorting

Britain to ban fracking in national parks after policy u-turn

Block on fracking in Scotland announced by minister

Fracking will not prove to be a big new source of energy in Britain and any future shale gas production will be of “no great significance”, BP has claimed.
Despite huge shale oil and gas deposits around the world, the shale energy boom will remain confined to the United States, where conditions are most favourable, the oil company believes.

www.thetimes.co.uk/frackingarticleFeb18