12 Apr 2010 07:00
IGas Energy plc
('IGas' or 'the Group')
Appointment of Chief Operating Officer
The board of IGas Energy (IGas), a domestic gas producer and a leading developer of unconventional gas resources in the UK, is pleased to announce John Blaymires joining the management team as Chief Operating Officer (COO) with immediate effect. He will be responsible for all of IGas' operated and non-operated assets.
John, 53, has 27 years of international experience in the oil and gas industry gained with both Shell International and Hess Corporation. He has held a variety of senior technical roles with particular emphasis on field development activity (subsurface, drilling and operations) in the North Sea, North Africa and the Middle East.
Prior to joining IGas he was Director of Technology Development for Hess based in Houston, where he helped develop a global engineering and geoscience technology group responsible for providing support across the E&P business, from deepwater to unconventional resources. Prior to that John was Technical Director for Hess' operations in West Africa, and subsequently South East Asia with responsibility for several major oil and gas developments. John has a BSc and PhD in Mining Engineering from Leeds University.
Andrew Austin, IGas' CEO said:
"It gives me great pleasure to welcome John as COO. He brings with him a wealth of industry experience, both in unconventional and conventional gas. His field development expertise will strengthen the IGas team as we move towards first full site production in 2011."
For further information please contact:
| IGas Energy Plc | Tel: +44 (0)20 7993 9901 |
| Andrew Austin |
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| Chief Executive Officer |
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| Kreab Gavin Anderson | Tel: +44 (0)20 7074 1800 |
| Kate Hill |
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| Anthony Hughes |
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| Cenkos Securities |
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| Jon Fitzpatrick | Tel: + 44 (0)207 397 8900 |
| Ken Fleming | Tel: +44 (0)131 220 6939 |
- Ends -
Notes to Editors
IGas Energy was set up to produce and market domestic sourced gas, primarily from
unconventional reservoirs, particularly coal bed methane. IGas Energy is now
producing gas from its pilot production site at Doe Green in Warrington and selling
electricity through its on-site generation, a UK first from CBM. Initial production rates
indicate that the Company should exceed its threshold for commerciality.
First full site production is targeted for 2011 and the Company is targeting 20-50 sites
for production between 2011 and 2014. Sites are planned to consist of 4-6 wells with
24,000-40,000 ft of lateral in each well. Each site is expected to produce between 7
and 20 Bcf over 15 years (gross). The production from each site is expected to peak
at between 4 and 10 mmscfd (650-1,700 boepd) (gross). The Company is using
production technology which is known and has been demonstrated to be effective in
other countries. Planning has been obtained for 8 pilot/production sites to date from a
variety of land owners and planning authorities.
IGas Energy has ownership interests of between 20 and 100 per cent in eleven
PEDLs in the UK, wholly owns two methane drainage licences and has a 75 per cent
interest in three offshore blocks under one Seaward Petroleum Production Licence.
These licenses cover a gross area of approximately 1,756 km2. The mid case GIIP is
up 328 per cent. from 893 Bcf at year end 2007 to 3,823 Bcf (source: Equipoise
Solutions Ltd).
The coal seam both generates and traps the gas, which can be extracted by drilling
into the seam and collected for use as fuel. CBM is exactly the same as other forms
of natural gas, and is used to provide both industrial and domestic power and has the
potential to be an important new source of energy for the UK.
The CBM industry in the UK is in its early stages, but with the continuing decline in
natural gas reserves from the North Sea, it is likely to become an increasingly
attractive alternative potential source of energy. CBM has become a significant
source of gas both in North America and Australia over a relatively short period of
time during which both have seen an almost exponential growth in CBM production.