Cautious is busy stirring tail of newt, hair of dog, moonbeam and the eye of frog. The incandation is:- Whisk twice left, and once to right, then Igas share holders shall take fright. But he will be back if this starts knocking on the door of sub £1 ps
Closing date for 14th round applications is 28th October, so results sometime after that, a bit later than anticipated in March. Reason given seems a bit flimsy to me, maybe also more time to negotiate the best possible price for any co-venture, which is fine by me. Next interesting event is the Wressle results, promised for end of August or early September, from EDR with a read across to IGAS, either positive or negative.
British shale gas explorer IGas has leased a drilling rig to spud a third well at the end of this year in its licence area in the northwest of England, the company said on Thursday.
Britain is betting on the development of its shale gas resources to reduce its growing dependence on gas imports but progress is slow due to tight environmental and planning laws.
IGas is one of the first companies to look for large volumes of shale gas in Britain but has so far not started any hydraulic fracturing, or fracking, whereby underground rock formations are broken up to release trapped gas.
Green campaigners oppose the use of fracking, claiming chemicals used in the process harm the environment and the technique can trigger earthquakes.
The company's success of securing a rig and to drill a third well, at Ellesmere Port, bring it a step closer to starting fracking in the shale-rich Bowland Shale area.
"This well ... is to further appraise the geology in the North West and another step in unlocking Britain's onshore energy resources," said IGas Chief Executive Andrew Austin in a statement.
IGas will also release results from test drills at its Barton Moss well in the same area following the submission of applications for Britain's next onshore licensing round.
The company is waiting to publish the results because it wants to take advantage of its shale gas resource knowledge to apply for further licences.
"IGas will be one of the few companies participating in the bid round with data from drilling results," said Jefferies analyst Mark Wilson. (Reporting by Karolin Schaps; editing by Tom Pfeiffer)
Hi BRB1 didn't know you were in here, not quite the same as LEN over in China! Cautious7 makes a valid point in my opinion, been away from this one for a while, bought at 75, sold at 120 - one of my few victories last year! I got out as public sentiment started to decline after the DECC published its estimates. This share, and others like it in the UK are affected by public opinion and politics more than conventionals, but my opinion is that exploration and production will happen. I'm just waiting for the next bit of bad news to buy in lower! GLA.
Yes. It's because the stupid traders are slowly getting wind of the idea that it's best getting their money into solid ventures rather than pie-in-the-sky stuff, because the entire market (AIM, FTSE, currencies, etc.) might be in for a rough ride in a couple of months' time.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.