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John Wood elevated to CEO in InfraStrata executive shuffle

Thu, 16th Aug 2018 10:30

(Sharecast News) - Natural gas storage capacity developer InfraStrata announced a change of chief executive officer on Thursday, as part of a restructuring of its executive team, which the board said would put the company in "good stead" as it progressed through to the end of front-end engineering and design (FEED) through final investment decision (FID) and into the construction phase.The AIM-traded firm said current CEO Adrian Pocock was relinquishing his position to John Wood, currently chief operating officer, effective on Thursday.Pocock would remain an executive director, undertaking business development activities, and would effect an orderly handover to Wood until 31 October.Thereafter, it was intended that Pocock would become a non-executive director.InfraStrata said its new executive team would therefore be John Wood and Andy Duncan, the chief financial officer.That team had been driving the FEED programme and commercialisation of the Islandmagee gas storage project in recent months, and was "fully committed" to completing FEED and ensuring current negotiations with potential offtake partners reached a successful conclusion, the board explained in its statement."Having been involved with the Islandmagee project for some time now, I am thrilled to have been offered the chance to lead InfraStrata through the next exciting phase of its journey," said John Wood."It has been my pleasure working with Adrian and I appreciate his continued support as we transition."Adrian Pocock added that it had been a "privilege" to lead InfraStrata since June last year."I am very pleased that Graham and I have managed to appoint a highly-qualified board and executives to take the Islandmagee project through to completion and monetisation," Pocock said."I look forward to an ongoing involvement in the success of the company."
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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

WINNERS & LOSERS SUMMARY: Old Mutual Slips Back As Break Up Confirmed

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