Completion of 2012 seismic survey in County Antrim

RNS Number : 2052G

Infrastrata PLC

27 June 2012

 



27 June 2012                                                                                         For Immediate Release

InfraStrata plc

("InfraStrata" or the "Company")

Completion of 2012 seismic survey in County Antrim

InfraStrata plc (AIM:INFA), the independent gas storage and petroleum exploration company, is pleased to announce that Tesla Exploration International Limited ("Tesla") has completed the Vibroseis seismic programme, as planned, within the Company's operated petroleum exploration licence PL1/10 in Northern Ireland.

Over the last three weeks, a total of 111 kilometres of 2D seismic data have been acquired in County Antrim along a series of 12 individual lines traversing Newtownabbey, Carrickfergus and Larne within the Larne-Lough Neagh Sedimentary Basin.

The contract for processing the seismic data has been awarded to Fugro Seismic Imaging Limited. It is anticipated that the processing of the data will be completed during September.

The survey has provided in-fill data to the 288 kilometre survey acquired by the licence partners during 2011.

Commenting on the survey, Andrew Hindle, CEO of InfraStrata plc said:

"The new survey will enable the project partners to refine their evaluation of the petroleum prospectivity of the licence area.

We are very pleased that this recent survey was completed by Tesla within the anticipated timeframe. Tesla and InfraStrata are extremely grateful to all third parties affected by the seismic programme for their support throughout the data collection period.

The Company will now review the data with project partners, and stakeholders will be fully consulted on future plans."

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

Northern Ireland PR Advisor - JET PR

Jacqui Thompson                                                                                          07803 722322

Nominated Advisor and Broker - Seymour Pierce

Jonathan Wright - 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.

Background on Licence PL1/10

The petroleum licence PL1/10 (Central Larne - Lough Neagh Basin) in Northern Ireland was awarded in March 2011. The licence covers an area of 663 square kilometres. The initial licence term is five years with a decision on drilling a well required within three years. InfraStrata is the operator of the licence and holds a 30% direct interest, and an additional interest via a shareholding in partner company Brigantes Energy Limited.

The partners in the licence are:

InfraStrata plc                         30%

Brigantes Energy Limited        40%

Nautical Petroleum plc             20%

Terrain Energy Limited            10%

In 2011 a 288 kilometre 2D Vibroseis seismic survey was acquired in PL1/10. This new survey brings the total seismic acquired by the partners to 399 kilometres.

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

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

 

 

MSCQQLFLLQFLBBX