world-class resource-is IGAS --TOO CHEAP ?4 Nov 2019 08:47
RNS TODAY
Commenting, Stephen Bowler, Chief Executive Officer said:
As announced, following interpretation of the cores at Springs Road in Nottinghamshire, we know that we have a significant recoverable gas resource in the Gainsborough Trough. Following interpretation of the cores taken across the 500m Shale horizon at Springs Road, we estimate that there is 630 Bcf of gas in place per square mile, and if applied to our entire acreage in the East Midlands, this would equate to 270 Tcf of high quality natural gas. At expected recovery rates, this would equate to satisfying up to 19 years of the UK's gas demand giving this country both energy security for years to come as well as providing billions of pounds of investment into the East Midlands and the creation of thousands of skilled jobs.
We have confirmed a world-class resource at our site in North Nottinghamshire and remain committed to working with regulators to demonstrate that we can operate safely and environmentally responsibly as we have done for decades. Each site and basin can have substantially different geology and we continue to analyse and understand the data available to us.
Well IGAS is not just a fracking company it supplies gas throgh natural gas flows from a number of sites acroos the UK this drop in price is a bargain as the massive possible fracking gain is now in the price for free, in fact on its current operations its half the price it should be -expect a jump after the press panic.