Completion of seismic survey in County Antrim

RNS Number : 5656R

Infrastrata PLC

07 November 2011

 



For Immediate Release

7 November 2011

InfraStrata plc

("InfraStrata" or the "Company")

Completion of seismic survey in County Antrim

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

Over the last eight weeks, a total of 275 kilometres of 2D seismic data have been acquired in County Antrim along a series of 13 individual lines traversing, Antrim, Newtownabbey, Carrickfergus and parts of Larne and Ballymena in an area known as the 'Central Larne - Lough Neagh Basin'.

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

"We are delighted with how this important seismic study has gone and that it has been completed by Tesla-IMC within the anticipated eight-week timeframe despite some very wet weather. The co-operation of the local communities across County Antrim has been key to the success of the programme. InfraStrata is extremely grateful to all the landowners, residents, business owners, road users and the wider public for their patience and support throughout the entire data collection period.

The Company will now review the data with project partners to assess the conventional petroleum potential in the area and stakeholders will be fully consulted on any future plans or activities."

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/ James Strong                                             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 exploration 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 net 20% interest via a shareholding in partner company Brigantes Energy Limited (formerly called IS E&P Limited).

The partners in the licence are:

InfraStrata plc                         30%

Brigantes Energy Limited        40%

Nautical Petroleum plc             20%

Terrain Energy Limited            10%

The sedimentary section is over 4,000 metres thick in the most deeply buried parts of the basin within licence PL1/10. The exploration is conventional with the primary reservoir target the Triassic Sherwood Sandstone, the reservoir in the giant Morecambe Bay gasfield in the East Irish Sea Basin. The regional seal is the Mercia Mudstone Formation. Secondary targets are sandstone reservoirs within the Permian and Carboniferous sequences. Although no deep wells have been drilled in the central part of the Larne-Lough Neagh Basin, potential Carboniferous oil and gas source rocks have been identified in wells drilled on the margins of the basin for coal exploration.

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.

 

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