IGas Energy PLC - London-based onshore energy company - Says production remains in line with guidance at 2,000 barrels of oil equivalent per day. Says planning permission is granted for Glentworth project.
Chief Executive Officer Chris Hopkinson says: "I am delighted that we continue to maintain strong momentum in production. We have secured planning permission for our Glentworth project which has the potential to add about 200 barrels per day in its first phase. Construction has begun at our Corringham site, which we anticipate will come online at the end of 2023. Both these projects will help us deliver on our strategy of pursuing lower risk, infill opportunities, bolstering our oil production whilst we grow our geothermal business."
Current stock price: 15.31 pence each, up 3.4% on Wednesday morning in London
12-month change: down 44%
By Xindi Wei, Alliance News reporter
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