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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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