Brigantes and Corfe Share Placings

RNS Number : 8127I

Infrastrata PLC

30 July 2012

 



FOR IMMEDIATE RELEASE

30 July 2012

InfraStrata plc

("InfraStrata" or the "Company")

Brigantes and Corfe Share Placings

InfraStrata plc (AIM:INFA), the independent gas storage and petroleum exploration company, has been informed by Brigantes Energy Limited ("Brigantes") and Corfe Energy Limited ("Corfe"), both companies of which InfraStrata is a shareholder, that each has raised funds through a placing of shares.

Brigantes has placed 1,500,000 new Ordinary Shares at 50p per share to raise £750,000. Following the placing, Brigantes will have 7,500,000 Ordinary Shares in issue. The Placing Shares will represent 20 per cent. of Brigantes's Enlarged Share Capital. InfraStrata, which holds 3,000,000 Ordinary Shares did not participate in the placing and following the placing holds 40 per cent. of the enlarged share capital.

Corfe has placed 1,500,000 new Ordinary Shares at 50p per share to raise £750,000. Following the placing, Corfe will have 7,500,000 Ordinary Shares in issue. The Placing Shares will represent 20 per cent. of Corfe's Enlarged Share Capital. InfraStrata, which holds 3,000,000 Ordinary Shares did not participate in the placing and following the placing holds 40 per cent. of the enlarged share capital.

Commenting on the placings by Brigantes and Corfe, Andrew Hindle, CEO of InfraStrata plc said:

"The primary assets of Brigantes and Corfe are exploration interests in Northern Ireland and Dorset where InfraStrata is also a joint venture partner. We are delighted that both companies have secured funds to support these projects as they move towards the drilling phase."

For further information please contact:

InfraStrata plc

Andrew Hindle, Chief Executive Officer                                                          020 8332 1200

Craig Gouws, Chief Financial Officer

Financial PR - Buchanan

Richard Darby/Gabriella Clinkard                                                                  020 7466 5000

Nominated Advisor and Broker - Seymour Pierce

Jonathan Wright/ Sarah Jacobs - Corporate Finance                                       020 7107 8000

Richard Redmayne - Corporate Broking

Notes to Editors:

Background on InfraStrata plc

InfraStrata is an independent gas storage and petroleum exploration company. The Company is focused on two areas in the UK, in Dorset, England and Antrim, Northern Ireland.

Further information is available on the Company's website www.infrastrata.co.uk.

Background on Brigantes Energy Limited

Brigantes is an independent private E&P company. InfraStrata is represented by William Colvin on the Board of the company. Brigantes has a 40% interest in Northern Ireland licence PL1/10, operated by InfraStrata. In addition, Brigantes has a 5% interest in the UK onshore Avington Oilfield.

Background on Corfe Energy Limited

Corfe is an independent private E&P company. InfraStrata is represented by William Colvin on the Board of the company. Subject to the approval of Department of Energy and Climate Change, Corfe has rights to a 12% interest in UK offshore licence P1918 in the process of being awarded to InfraStrata. In addition, Corfe has a 5% interest in the UK onshore Avington Oilfield and a 12.5% interest in onshore UK licence PEDL201.

In accordance with the AIM Rules - Note for Mining and Oil and Gas Companies, the information contained in this announcement has been reviewed and signed off by the Chief Executive Officer of InfraStrata plc Dr Andrew Hindle, a Chartered Geologist with over 25 years' experience.

 

END

 

 

MSCEAAXEDFSAEFF