IGAS.L Regulatory News (IGAS)

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

COMPANY NAME:

IGas Energy plc

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :

Interpark House, 7 Down Street, London W1J 8AJ

COUNTRY OF INCORPORATION:

UK

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

www.igasplc.com

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

IGas Energy Plc ('IGas Energy' or the 'Company') produces and markets domestically sourced gas. It is currently focussed on delivering commercial production through an accelerated development programme.

IGas Energy has licences to extract hydrocarbons across the north of Wales and the north of England, covering an area of 1,756km2 (equivalent to approximately 434,000 acres). IGas Energy is the operator and sole owner of each of its licences.

IGas Energy's unique position offers more than 1.8 Trillion Cubic Feet (tcf) of technically recoverable gas (equivalent to 290 million barrels of oil) with customers located conveniently close to its operations, which includes the national gas network.

On 19 September 2011 the Company announced the signing of a sale and purchase agreement for the acquisition of Star Energy Group Limited ("Star Energy") from PETRONAS International Corporation Limited. The Acquisition will comprise of the UK onshore production assets of Star Energy but excludes certain non-UK assets and the gas storage business currently conducted by Star Energy.

The Acquisition constitutes a reverse takeover under the AIM Rules and is therefore conditional, inter alia, upon the approval of IGas Energy's shareholders at a General Meeting to be held at 10:45 a.m. on 9 December 2011.

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

160,323,721 Ordinary Shares of 50p each

CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

No further capital raised on re-admission. Anticipated market capitalisation of c.£80m

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

64.65% held by Directors, Nexen Petroleum UK Limited and Levine Capital Management

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES (INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED:

n/a

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

Andrew Philip Austin (Chief Executive)

Stephen Bowler (Chief Financial Officer)

John Blaymires (Chief Operating Officer)

Francis Robert Gugen (Chairman)

John Bryant (Non-Executive Director)

Richard James Armstrong (Non-Executive Director)

John Andrew Hamilton (Non-Executive Director)

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

No. of % of Share

Ordinary Shares Capital

(pre and post (pre and post

admission) admission)

Nexen Petroleum UK Limited 39,714,290 24.77

Francis Gugen 27,615,764 17.23

Levine Capital Management 14,429,135 8.80

and Peter Levine

Brent Cheshire 11,429,253 7.13

Andrew Austin 10,659,253 6.65

Baillie Gifford 8,088,217 5.04

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

Nexen Petroleum UK Limited ("Nexen") received 39,714,290 shares in lieu of consideration when IGas acquired Nexen's interests in a number of UK licenses where the two parties were partners in the fields.

(i) ANTICIPATED ACCOUNTING REFERENCE DATE

(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)

(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

(i) 31 March

(ii) 31 March (being the year end of the acquired Star Energy business)

(iii)

·; 2012 Full Year Results for the 15 months ending 31 March 2012 will be published by 30 June 2012

·; 2013 Interims for the 6 months ending 30 September 2012 will be notified by 31 December 2012

·; 2013 Full Year Results for the 12 months to 31 March 2013 will be published by 30 September 2013

Note: IGas Energy has now changed its year end to 31st March to align it with the Star Energy business

EXPECTED ADMISSION DATE:

12 December 2011

NAME AND ADDRESS OF NOMINATED ADVISER:

RBS Hoare Govett Ltd

250 Bishopsgate

London

EC2M 4AA

NAME AND ADDRESS OF BROKER:

RBS Hoare Govett Ltd

250 Bishopsgate

London

EC2M 4AA

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

www.igasplc.com

DATE OF NOTIFICATION:

24 November 2011

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