15 Dec 2014 07:00
15 December 2014
IGas Energy PLC
("IGas" or "the Company")
Ellesmere Port - Preliminary Well Results confirm 1,400 feet of Shale
IGas (LSE: IGAS), one of the leading producers of onshore hydrocarbons in the UK, is pleased to announce preliminary results from the drilling of the Ellesmere Port exploration well.
The well was spudded on 15 November 2014 and, due in part to lessons learned on the previous wells, the well total depth (TD) was reached ahead of schedule on 12 December 2014.
The well encountered a thick section of the Coal Measure interval as well as a shale sequence before penetrating the key Dinantian limestone geophysical marker. The Coal Measure interval was approximately 800 feet thick and contained several seams.
A very significant shale section of approximately 1,400 feet was also drilled. Preliminary analysis suggests both the Sabden Shale and Bowland Shales have been encountered and cores have been acquired across these intervals. Significant gas indications were observed across the shale section.
The well, including the shale section, is being logged and the logs, together with the cores, will be sent away for further detailed analysis.
The drilling of the well has been accomplished ahead of schedule and under budget.
For further information please contact:
IGas Energy plc | Tel: +44 (0)20 7993 9899 |
Andrew Austin, Chief Executive Officer Stephen Bowler, Chief Financial Officer Ann-marie Wilkinson, Head of Communications
|
|
Jefferies International Limited | Tel: +44 (0)20 7029 8000 |
Sara Hale Graham Hertrich Canaccord Genuity Tim Redfern |
Tel: +44 (0)20 7523 8000 |
MHP
Barnaby Fry/Andrew Leach Tel: +44 (0)20 3128 8100