Proof that even the government doesn't believe in the fanciful forecasts made by the fracking industry. 2018 will be the year we finally kill this menace to the environment:
Sorry Omaha man this Tory/ paramilitary DUP government is totally behind this insidious fracking agenda.
Share price moving up now to more sensible level after price drop recently s as stale holders exited after big drop at reorganisation.
Company is now a different beast operating at a profit with 2 or 3 very exciting drill propects in new year plus various other share gas drill prospects where drilling is to occur where they have a carried interest. All in all lots on its a way and a couple of winners will really see the share price motor,should be extremely interesting year ahead.
Wow after holding for so long I am finally getting confidence back here. I think this may be a bottom here with good cash flow, board approvals, government support and consumer demand all positive. I also think gas is cheap. Any price rise and these will motor. BUY
This is not an investment it is a lottery ticket. Recent claim that U.K. doesn't have the level of gas/oil as the USA due to our unique geology is a negative as is the generally negative public perception of fracking. However, if they hit a rich reservoir and people start to see some benefit the shares could rocket. Keep your fingers crossed.
Can they find enough net cash from these early stage developments before they run out of cash or have to sell out to the disadvantage of small share holders? Oil price is not helping with their bread and butter revenue. It feels more like a gamble than an investment.
IGas Energy has been given the go-ahead for two shale gas development projects in Nottinghamshire.
It has been given the right to drill exploratory wells off Springs Road, Mission in Bassetlaw a former Cold War missile launch site and between Barnby Moor and Blyth.
No fracking is included as part of the developments.
Nottinghamshire County Council said the first planning project includes 37 separate conditions and the second includes 52 separate conditions, which have been put in place to minimise the impacts on the environment and local communities.
They were added following public consultations and cover areas such as traffic, noise and ecology.
Some of the requirements under the legal agreements for the shale gas wells include the payment of a bond, which would be used to fund restoration of the site in the event IGas is unable to fulfil restoration requirements set out in the planning permission and lorry drivers adhering to a code of conduct.
Earlier this year, French energy company ENGIE sold its UK shale gas interests to Swiss petrochemicals firm INEOS, with eight of the licences operated by IGas.
Trans European Oil & Gas has been established to acquire and operate onshore oil and gas fields across Europe.
Trans European Oil & Gas experienced management team employ enhanced recovery techniques, alternative development strategies and advanced evaluation tools to maximise reserves and reserve recovery while maintaining the highest environmental and safety standards.
Trans European Oil & Gas is headquartered in London and enjoys the financial backing of its major shareholder, KKR, a leading global investment firm.
Chief Executive Officer
+44 20 38466280
Roland is a geology graduate from University College London and has over 40 years of experience in the oil and gas industry.
Initially involved in the drilling services sector, he has undertaken managerial roles in most of the active oil and gas regions of the world including West Africa, the Middle East, the North Sea and North and South America. Leaving his position as Eastern Hemisphere Manager at Teleco Oilfield Services in 1992, Roland founded Integrated Drilling Services in 1992 backed by 3i Group plc.
Roland sold Integrated Drilling Services in 1998 before founding Star Energy, a leading onshore UK oil and gas producer and developer and operator of gas storage facilities. Star Energy acquired and developed gas storage projects in the UK (Humbly Grove, commissioned 2005), Denmark, UK North Sea, Holland and Ireland (subsequently Kinsale Energy under Petronas ownership). Star Energy became the largest onshore UK oil and gas operator in terms of wells and fields (25) and second largest producer after BP with daily production of c. 3500 bopd. Star Energy was purchased by Petronas, the Malaysian state oil company in 2008 and Mr Wessel continued as CEO of Star Energy until late 2011.
Roland jointly managed an oil and gas technology fund and subsequently was EVP at APS Technology Inc. in Connecticut USA before returning to London to found Trans European Oil & Gas.
Roland held a number of non-executive positions in the oil and gas sector, including Dominion Petroleum for four years until the sale to Ophir.
Roland has been involved in the development of several key oilfield technologies including the Schlumberger PowerDrive rotary steerable system, multi-lateral drilling systems, electromagnetic prospecting technology and wireline drilling systems. Mr Wessel has participated in several patents and is a member of the Society of Petroleum Engineers.
Chief Financial Officer
+44 20 38466280
After obtaining an honours degree in Engineering and Management, Colin joined Price Waterhouse where he qualified as a chartered accountant in 1979. Colins experience with Price Waterhouse included various professional accounting positions in the UK, Europe and the Far East. Colin joined Christian Salvesen plc in 1987 and, following an initial role as Group Internal Auditor, moved to the companys mobile power and temperature control division Aggreko where he established the financial management system of a newly-acquired business in Singapore. Colin then moved to Aggrekos European head office in the Netherlands where he took on the role of European Finance Manager, covering operations in the Netherlands, Germany, France, Spain and Finland. In 1994, Colin joined a private-equity-backed oil services business in Aberdeen as Financial Director to assist the company in its expansion into the USA and the Far East. Colin subsequently joined another private-equity-backed oil services business to assist the company
Following the completion of our restructuring, we now have a strong balance sheet which will enable us to focus on delivering the significant potential of our production and development assets and provide a solid foundation for the long-term future of the Company.
We are forecasting net production for 2017 to be c.2,500 boepd with capital expenditure of c.£4m in the year. We are focused on cash generation in our production business and anticipate operating costs of $25/boe for the year, which at these current oil price levels and our anticipated general and admin and financing costs means we will be cash generative.
We have now received two planning permissions in the East Midlands and we anticipate spudding these wells in the second half of 2017 to improve our understanding of the Gainsborough Trough. All wells are carried by our partners under our $230 million carried work programme. In the North West, having interpreted the 3D data, we are moving forward with site selection and pre-application preparations.
Our strategy remains clear and focused, as we look to maximise the potential of our existing assets and develop our shale gas business from appraisal to future production.
We look forward to the future with renewed confidence following the refinancing and are excited by the opportunities that increased momentum across the UK shale industry, including further well data, will present during 2017.
Have bought in here.
Share price starting to move up from low and looks like this could move up very strongly from here with funds sorted, Kerogen in at 4.5p providing solid backing and 2 wells ready to drill.
I expect share price to keep rising pre dill and sucess with the drill bit would transform prospects.
I expect existing big holders to sit tight in anticipation fpr quite a while yet before any unloading.
21 March 2017
IGas Energy plc (AIM: IGAS)
("IGas" or the "Company")
a leading UK onshore oil and
gas explorer and producer
Planning and Licensing Committee decision to grant planning consent for the application to
develop a hydrocarbon wellsite and drill one exploratory well at the site known as
Tinker Lane, Retford
Road, near Barnby Moor, Nor
CEO of IGas commented:
I am pleased that the Committee has made this positive determination following the
recommendation by the Planning Officer
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