Production & Produced Water Congress 2013

RNS Number : 7774H

Iofina PLC

25 June 2013

 



June 25, 2013

Iofina plc

("Iofina" or the "Company")

(LSE AIM: IOF)

Mississippi Lime: 

Production & Produced Water Congress 2013

Iofina, specialists in the exploration and production of iodine and iodine specialty chemical derivatives, are pleased to announce the Company will be presenting at the Mississippi Lime: Production & Produced Water 2013 Conference.  The conference to be held in Oklahoma City June 26^th and 27^th gathers together the leading production professionals operating in the Mississippi Lime.  The list of speakers and participants includes many of the area's leading producers.

The Mississippi Lime has been characterized as the "New Bakken" with estimates that production can hit 500,000-boe/d mark by 2020.[1]  This play is characterized by shallow, low-cost wells that deliver, making it a bargain in the North American shale scene.  The Mississippi Lime has a net of 11,000,000 acres with the play's horizontal core being approximately 7,000,000 acres spread across north-central Oklahoma and south-central Kansas.[2]  The largest operators in the area are Sandridge Energy, Chesapeake Energy Corporation, Range Resources Corporation and Midstates Petroleum Company, Inc.[3] The development of the Mississippi Lime had been impacted due to the quantity and expense involved in disposing of the brine water.  These obstacles have been overcome and now Baker Hughes estimates there are 92 rigs actively working in the core area.[4]  With the robust quantity of water and concentration of iodine, the Mississippi Lime has afforded Iofina with an enormous opportunity utilising one of the largest waste streams in North America.  Iofina's proven IOsorb™ technology allows operators to reduce costs associated with the disposal of their brine stream.  This allows our partners to reduce their operational expense compared to non-Iofina partners in the area.   

Iofina is currently working with several of the area's largest producers and continues to expand its presence.  The Company currently has two plants producing iodine, one in the Mississippi Lime and construction has commenced on IO#3.  Construction of IO#4 is expected to be completed circa 30 days after IO#3. 

About Iofina

Iofina specializes in the exploration and production of iodine, iodine specialty chemical derivatives, produced water and natural gas. Iofina's business strategy is to identify, develop, build, own and operate iodine extraction plants currently focused in North America based on Iofina's WET® IOsorb™ technology. Iofina has iodine production operations in the United States, specifically in Texas, California,

Montana, Oklahoma and Wyoming. The Group has complete vertical integration from the production of iodine in the field to the manufacture of the chemical end products derived from iodine to the consumer and the recycling of iodine using iodinated side-streams from waste chemical processes in Europe, North America and Asia. The Group utilizes its portfolio of patented and patent pending technology, proprietary methods and trademarks throughout all business lines.

For further information, please contact:

Dr. Chris Fay, Executive Chairman 

Iofina plc

Tel: [phone]

www.iofina.com

Ben Colegrave/Chris Sim/Neil Elliot

Investec

Tel: [phone]

Media Contact:

Dominic Barretto

Yellow Jersey PR Limited

Tel: [phone]

About the Conference:

www.mississippi-lime-produced-water-2013.com

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[1] Redden, Jim; Mississippi Lime:  Independents cashing in on low-cost play; http://www.worldoil.com/March _2013_missippi_lime.html; page 3, May 4, 2013.

[2] Redden, Jim; Mississippi Lime:  Independents cashing in on low-cost play; http://www.worldoil.com/March _2013_missippi_lime.html; page 5, May 4, 2013.

[3] Mississippi Lime; Mississippian Check Up-Who's Portfolio Reigns Supreme?; http://www.shaleexperts.com/articles/Mississippian-Check-Up-Whos-Reigns-Supreme; page 2, May 3, 2013.

[4] Redden, Jim; Mississippi Lime:  Independents cashing in on low-cost play; http://www.worldoil.com/March _2013_missippi_lime.html; page 4, May 4, 2013.

 

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