Changes of UK Onshore Licence Interests

RNS Number : 9256Y

Igas Energy PLC

09 March 2017

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

9 March 2017

IGas Energy plc (AIM: IGAS)

("IGas" or the "Company")

Changes of UK Onshore Licence Interests

IGas notes that INEOS Upstream Limited ("INEOS") has recently completed its acquisition of ENGIE E&P UK Limited's ("ENGIE") interests in certain UK onshore licences held jointly with IGas.

Following completion of the acquisition the new equity interests in those licences are as outlined in the table below; and ENGIE's obligations to carry IGas in respect of all the licences below (other than PEDL 293 and PEDL 295) have now been taken over by INEOS.

Licence	Region	Equity interests post transaction	Operator
EXL 273	Cheshire	INEOS 85%    IGas 15%	INEOS
PEDL 293 *	Cheshire	INEOS 70%    IGas 30%	INEOS
PEDL 295 *	Cheshire	INEOS 70%    IGas 30%	INEOS
PEDL 147	Cheshire	INEOS 75%    IGas 25%	IGas
PEDL 188	Cheshire	INEOS 25%    IGas 75%	IGas
PEDL 189	Cheshire	INEOS 75%    IGas 25%	IGas
EXL 288	Yorkshire	INEOS 25%    IGas 75%	IGas
PEDL 012	Nottinghamshire	INEOS 45%    IGas 55%	IGas
PEDL 200	Nottinghamshire	INEOS 45%    IGas 55%	IGas
PEDL 210	Lincolnshire	INEOS 25%    IGas 75%	IGas
PEDL 146	Yorkshire	INEOS 25%    IGas 75%	IGas

*14^th Landward Licencing Round (not subject to carry arrangements)

For further information please contact:

IGas Energy plc

Tel: [phone]

Stephen Bowler, Chief Executive Officer Julian Tedder, Chief Financial Officer

Ann-marie Wilkinson, Director of Corporate Affairs

Investec Bank plc (NOMAD and Joint Corporate Broker)

Tel: [phone]

Sara Hale/Jeremy Ellis/George Price

Canaccord Genuity (Joint Corporate Broker)

Tel: [phone]

Henry Fitzgerald-O'Connor

Vigo Communications

Tel: [phone]

Patrick d'Ancona/Chris McMahon

 

END

 

 

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