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InfraStrata announces interim results

Tue, 28th Apr 2015 14:46

InfraStrata, the petroleum exploration company, announced its unaudited interim results for the six months ended 31 January 2015.It is focusing on the drilling of two wells in Northern Ireland at Islandmagee and Woodburn Forest and received an EU grant for EUR 2.5m which was 50% of the cost of the well at Islandmagee.The remaining 50% to complete the work by the end of 2015 was secured in February 2015 with a placing and subscription of InfraStrata shares.The company received a recent approval by DETI in February 2015 to drill at Woodburn Forest to start September 2015 after bird nesting season.Ken Ratcliff, Chairman said, "InfraStrata has further progressed the drilling of two wells in Northern Ireland over the past six months against a backdrop of difficult market conditions for oil and gas companies. We seek to secure value for our shareholders by completing this programme during 2015.Value has been achieved by leveraging value out of our existing assets, demonstrated by the transaction with Fyrd in December 2014 which gave the Company access to a high quality exploration project in the North Sea in exchange for rights to data from the Portland project, and more recently in January 2015 with a data release agreement in respect of proprietary seismic data in Northern Ireland for which its subsidiary Islandmagee Storage Limited received £0.4m in cash during February 2015."InfraStrata will seek to monetise further value from existing projects during the coming year. Much of this activity will focus on realising value from the Islandmagee gas storage project following the drilling of the well in Q2 2015."
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4 Apr 2018 09:17

InfraStrata Raised GBP925,000 Through Placing Of 385.4 Million Shares (ALLISS)

LONDON (Alliance News) - InfraStrata PLC, a company focused on development of strategic gas storage capacity, said on Wednesday it raised GBP925,000 through the

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6 Jan 2017 10:41

InfraStrata swings to profit as it secures EU funding for gas storage project

(ShareCast News) - Gas storage company InfraStrata swung to a slight profit as it secured funding from the European Union for its Islandmagee project, while it seeks to gain a further £3m. The company made a profit for the year ended 31 July 2016 of £66,955, compared to a loss of £6.1m last the prev

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4 Jan 2017 13:10

InfraStrata still seeking immediate short-term funding

(ShareCast News) - Independent gas storage company InfraStrata updated the market on Wednesday, on its working capital position and fundraising activities following its announcement on 4 November. The AIM-traded company said it is continuing to examine its options with its advisers for securing the

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13 Sep 2016 14:24

InfraStrata buys another chunk of Islandmagee Storage

(ShareCast News) - Independent petroleum exploration and gas storage company InfraStrata reported on Tuesday that its wholly owned subsidiary, InfraStrata UK, has acquired an additional 25% equity stake in Islandmagee Storage (IMSL). The AIM-traded firm said Islandmagee is the developer of the gas s

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19 Aug 2016 09:45

Infrastrata repays loan from Baron Oil early

(ShareCast News) - InfraStrata repaid its loan from Baron Oil early but modified the terms of its loan agreement, extending the latter's right to buy into its Islandmagee development in exchange for a cash payment. In May 2015, Baron provided €1.8m to fund Infrastrata's working capital requirements

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30 Jun 2016 11:20

InfraStrata Project To Receive Up To EUR4.0 Million In EU Grant

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16 Jun 2016 16:25

InfraStrata, Baron Oil to plug, abandon Woodburn Forest-1 well

(ShareCast News) - Shares in InfraStrata and Baron Oil fell more than 20% after they confirmed the Woodburn Forest-1 well in Northern Ireland would be plugged and abandoned. The well, in County Antrim, was drilled to a depth of 2,000 metres and encountered two conventional sandstone reservoir interv

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16 Jun 2016 14:58

InfraStrata And Baron Oil Fail To Find Hydrocarbons At Woodburn Forest

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25 May 2016 14:17

InfraStrata Secures EU Funds For Islandmagee To Cover Baron Oil Loan

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16 May 2016 13:35

Baron Oil partner starts drilling at Woodburn, County Antrim

(ShareCast News) - InfraStrata has begun drilling the Woodburn Forest-1 well in County Antrim, with Baron Oil owning a 10% interest of Northern Ireland Petroleum Licence PL1/10, in which the well sits. The well would be drilled to 2,000m and target three conventional sandstone reservoir intervals, t

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16 May 2016 07:23

InfraStrata Searches For 25 Million Barrels Of Oil In Woodburn Forest

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13 May 2016 14:23

InfraStrata presses on with drilling as Woodburn Forest hearing adjourned

(ShareCast News) - Independent petroleum exploration and gas storage company InfraStrata made a public statement on the contentious Woodburn Forest project on Friday, promising to progress with its drilling programme as a possible injunction hearing loomed. On Thursday, the High Court in Northern Ir

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13 May 2016 12:40

InfraStrata Responds After Complaints About Woodburn Forest Project

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22 Mar 2016 11:05

InfraStrata To Begin Drilling In May, Satisfied With Funding For 2016

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11 Mar 2016 10:49

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