DECC consultation on Shale Gas and Fracking

RNS Number : 5421B

Igas Energy PLC

18 April 2012

 



18 April 2012

IGas Energy Plc

DECC consultation on Shale Gas and Fracking

IGas Energy Plc welcomes the publication by the Department for Energy & Climate Change (DECC) of an independent expert report into the impacts of shale gas operations on seismic activity.

IGas Energy fully supports the view of DECC's Chief Scientific Advisor David MacKay that if shale gas is to be part of the UK's energy mix we need to have a good understanding of its potential environmental impacts and what can be done to mitigate those impacts.  We support the reports recommendation for "an effective monitoring system and a traffic light control regime". IGas Energy will be responding positively during the consultation period.

IGas Energy has interests in a variety of onshore hydrocarbons including conventional oil and gas, coal bed methane and shale gas. IGas is one of the largest onshore producers of hydrocarbons in the UK with a track record since the early 1980's, including more recently pilot sites for the extraction of coal bed methane in the North West of England.

Recent encouraging results from the Company's Ince Marshes well have demonstrated the presence of the Bowland shale in this area, potentially at least doubling the independent pre-drill estimate of 4.6 trillion cubic feet of gas initially in place.  This has led IGas Energy to launch a process to look for partners to assess and then develop this potentially significant resource base.

As is the case with all IGas Energy sites, we will only start to develop our shale resource following full community consultation and alongside a comprehensive planning process with all relevant agencies including DECC, the HSE and the Environment Agency.

For further information please contact:

IGas Energy plc Andrew Austin,CEO	Tel: [phone]
Jefferies Hoare Govett Sara Hale / Jamie Buckland	Tel: [phone]
Canaccord Genuity Limited Rob Collins/ Tim Redfern	Tel: [phone]
Kreab Gavin Anderson Ken Cronin/ Kate Hill/ Anthony Hughes	Tel: [phone]

 

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