30 Jul 2012 13:18
FOR IMMEDIATE RELEASE | 30 July 2012 |
InfraStrata plc
("InfraStrata" or the "Company")
Brigantes and Corfe Share Placings
InfraStrata plc (AIM:INFA), the independent gas storage and petroleum exploration company, has been informed by Brigantes Energy Limited ("Brigantes") and Corfe Energy Limited ("Corfe"), both companies of which InfraStrata is a shareholder, that each has raised funds through a placing of shares.
Brigantes has placed 1,500,000 new Ordinary Shares at 50p per share to raise £750,000. Following the placing, Brigantes will have 7,500,000 Ordinary Shares in issue. The Placing Shares will represent 20 per cent. of Brigantes's Enlarged Share Capital. InfraStrata, which holds 3,000,000 Ordinary Shares did not participate in the placing and following the placing holds 40 per cent. of the enlarged share capital.
Corfe has placed 1,500,000 new Ordinary Shares at 50p per share to raise £750,000. Following the placing, Corfe will have 7,500,000 Ordinary Shares in issue. The Placing Shares will represent 20 per cent. of Corfe's Enlarged Share Capital. InfraStrata, which holds 3,000,000 Ordinary Shares did not participate in the placing and following the placing holds 40 per cent. of the enlarged share capital.
Commenting on the placings by Brigantes and Corfe, Andrew Hindle, CEO of InfraStrata plc said:
"The primary assets of Brigantes and Corfe are exploration interests in Northern Ireland and Dorset where InfraStrata is also a joint venture partner. We are delighted that both companies have secured funds to support these projects as they move towards the drilling phase."
For further information please contact:
InfraStrata plc
Andrew Hindle, Chief Executive Officer 020 8332 1200
Craig Gouws, Chief Financial Officer
Financial PR - Buchanan
Richard Darby/Gabriella Clinkard 020 7466 5000
Nominated Advisor and Broker - Seymour Pierce
Jonathan Wright/ Sarah Jacobs - Corporate Finance 020 7107 8000
Richard Redmayne - Corporate Broking
Notes to Editors:
Background on InfraStrata plc
InfraStrata is an independent gas storage and petroleum exploration company. The Company is focused on two areas in the UK, in Dorset, England and Antrim, Northern Ireland.
Further information is available on the Company's website www.infrastrata.co.uk.
Background on Brigantes Energy Limited
Brigantes is an independent private E&P company. InfraStrata is represented by William Colvin on the Board of the company. Brigantes has a 40% interest in Northern Ireland licence PL1/10, operated by InfraStrata. In addition, Brigantes has a 5% interest in the UK onshore Avington Oilfield.
Background on Corfe Energy Limited
Corfe is an independent private E&P company. InfraStrata is represented by William Colvin on the Board of the company. Subject to the approval of Department of Energy and Climate Change, Corfe has rights to a 12% interest in UK offshore licence P1918 in the process of being awarded to InfraStrata. In addition, Corfe has a 5% interest in the UK onshore Avington Oilfield and a 12.5% interest in onshore UK licence PEDL201.
In accordance with the AIM Rules - Note for Mining and Oil and Gas Companies, the information contained in this announcement has been reviewed and signed off by the Chief Executive Officer of InfraStrata plc Dr Andrew Hindle, a Chartered Geologist with over 25 years' experience.