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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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.