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Pin to quick picksIgas Energy Regulatory News (IGAS)

Share Price Information for Igas Energy (IGAS)

London Stock Exchange
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Share Price: 13.90
Bid: 13.85
Ask: 14.10
Change: -0.35 (-2.46%)
Spread: 0.25 (1.81%)
Open: 14.00
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Prev. Close: 14.25
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Reserves Based Lending redetermination completed

Tue, 4th Jan 2022 07:00

RNS Number : 2518X
Igas Energy PLC
04 January 2022
 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

4 January 2022

 

IGas Energy plc (AIM: IGAS)

("IGas" or "the Company")

 

Reserves Based Lending (RBL) redetermination completed

IGas is pleased to confirm it has completed its scheduled six-monthly RBL facility redetermination process.

The redetermination exercise confirms £19.3 million of debt capacity.

Cash balances at 30 November 2021 were £3.2 million with net debt of £13.4 million. 216,000 bbls are currently hedged in 2022 using swaps at an average price of $68/bbl and 114,000 bbls using puts with an average guaranteed minimum price, net of premiums, of $44/bbl. 

Commenting, CEO Stephen Bowler, said

"I am pleased that we have once again been successful in the completion of our redetermination process. Our hedge pricing is much improved in 2022 and we continue to progress opportunities to increase shareholder value through the continued diversification of the business into low-carbon energy and on our cash-generating production assets."

 

For further information please contact:

IGas Energy plc Tel: +44 (0)20 7993 9899

Stephen Bowler, Chief Executive Officer

Ann-marie Wilkinson, Director of Corporate Affairs

 

Investec Bank plc (NOMAD and Joint Corporate Broker) Tel: +44 (0)20 7597 5970

Sara Hale/Jeremy Ellis/Virginia Bull

 

Canaccord Genuity (Joint Corporate Broker) Tel: +44 (0)20 7523 8000

Henry Fitzgerald-O'Connor/James Asensio

 

Vigo Consulting Tel: +44 (0)20 7390 0230

Patrick d'Ancona/Chris McMahon/Kendall Hill

 

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MSCSSWESDEESELF
Date   Source Headline
10th Jan 20227:00 amRNSBoard Change
4th Jan 20227:00 amRNSReserves Based Lending redetermination completed
21st Dec 20214:42 pmRNSSecond Price Monitoring Extn
21st Dec 20214:36 pmRNSPrice Monitoring Extension
10th Dec 20212:45 pmRNSHolding(s) in Company

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