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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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.

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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.