9 Mar 2017 07:00
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
9 March 2017
IGas Energy plc (AIM: IGAS)
("IGas" or the "Company")
Changes of UK Onshore Licence Interests
IGas notes that INEOS Upstream Limited ("INEOS") has recently completed its acquisition of ENGIE E&P UK Limited's ("ENGIE") interests in certain UK onshore licences held jointly with IGas.
Following completion of the acquisition the new equity interests in those licences are as outlined in the table below; and ENGIE's obligations to carry IGas in respect of all the licences below (other than PEDL 293 and PEDL 295) have now been taken over by INEOS.
Licence | Region | Equity interests post transaction | Operator |
EXL 273 | Cheshire | INEOS 85% IGas 15% | INEOS |
PEDL 293 * | Cheshire | INEOS 70% IGas 30% | INEOS |
PEDL 295 * | Cheshire | INEOS 70% IGas 30% | INEOS |
PEDL 147 | Cheshire | INEOS 75% IGas 25% | IGas |
PEDL 188 | Cheshire | INEOS 25% IGas 75% | IGas |
PEDL 189 | Cheshire | INEOS 75% IGas 25% | IGas |
EXL 288 | Yorkshire | INEOS 25% IGas 75% | IGas |
PEDL 012 | Nottinghamshire | INEOS 45% IGas 55% | IGas |
PEDL 200 | Nottinghamshire | INEOS 45% IGas 55% | IGas |
PEDL 210 | Lincolnshire | INEOS 25% IGas 75% | IGas |
PEDL 146 | Yorkshire | INEOS 25% IGas 75% | IGas |
*14th Landward Licencing Round (not subject to carry arrangements)
For further information please contact:
IGas Energy plc
Tel: +44 (0)20 7993 9899
Stephen Bowler, Chief Executive Officer Julian Tedder, Chief Financial Officer
Ann-marie Wilkinson, Director of Corporate Affairs
Investec Bank plc (NOMAD and Joint Corporate Broker)
Tel: +44 (0)20 7597 4000
Sara Hale/Jeremy Ellis/George Price
Canaccord Genuity (Joint Corporate Broker)
Tel: +44 (0)20 7523 8000
Henry Fitzgerald-O'Connor
Vigo Communications
Tel: +44 (0)20 7830 9700
Patrick d'Ancona/Chris McMahon