Less Ads, More Data, More Tools Register for FREE

Pin to quick picksINFA.L Regulatory News (INFA)

  • There is currently no data for INFA

Operational update

9 May 2011 07:00

RNS Number : 1469G
Infrastrata PLC
09 May 2011
 



 

 

 

For Immediate Release 9 May 2011

 

 

InfraStrata plc

("InfraStrata" or the "Company")

 

 

Operational update

 

InfraStrata plc (AIM:INFA) the independent energy production, transportation and storage developer, is pleased to provide an update on its various projects.

 

Antrim, Northern Ireland

 

Islandmagee Storage Limited (InfraStrata 65% interest) continues to support the planning application process for the gas storage project. It remains hopeful that planning permission will be awarded for the project during 2011. Meanwhile InfraStrata, together with its partner, Mutual Energy Limited, have been continuing discussions with a range of parties about partnering the project to fund the next stage through to the financial investment decision point. InfraStrata's legal advisors, Field Fisher Waterhouse LLP, are now assisting Islandmagee Storage Limited in the negotiation of detailed terms with several parties in parallel with a view to reaching agreement with one or more of the parties over the Summer.

 

InfraStrata as operator of the PL1/10 Licence group (InfraStrata 30% direct interest, additional 20% interest via shareholding in partner company IS E&P Limited) has issued tenders for the 250km 2D seismic acquisition and processing contracts. It is anticipated that the contracts will be awarded in June 2011 for a Q3 2011 start-up of operations.

 

Dorset, England

 

Portland Gas Limited (InfraStrata 50% interest) has tendered for the initial construction work on the Upper Osprey wellsite. The construction work is expected to be completed by early June 2011. This work will implement the planning permission for the gas storage project. InfraStrata, together with its partner eCORP Oil & Gas Limited, are currently finalising the 2011/12 programme of activity and once this is completed a further update will be provided.

 

Commenting on the update, Andrew Hindle, CEO of InfraStrata plc said:

 

"We are pleased to be continuing to progress our range of upstream and midstream projects as planned. 2011 is an important year for the Company as we prepare to accelerate the Islandmagee Storage project with drilling of the first cavern well, subject to completing the process to introduce a new partner and obtaining planning permission for this important project for Northern Ireland. Also in Northern Ireland, we hope the results of the new seismic data will lead to drilling activity in 2012. In England, we are making progress with eCORP to prepare the groundwork for the development of projects in the Dorset area."

For further information please contact:

 

InfraStrata plc

 

Andrew Hindle, Chief Executive Officer 020 8332 1200

Craig Gouws, Chief Financial Officer

 

Financial PR - Buchanan Communications

Richard Darby 020 7466 5000

James Strong

Gabriella Clinkard

 

Nominated Advisor and Broker - Seymour Pierce

 

Jonathan Wright/ Jeremy Porter - Corporate Finance 020 7107 8000

Richard Redmayne - Corporate Broking

 

 

Notes to Editors:

 

Background on InfraStrata plc

 

InfraStrata is a developer of energy production, transportation and storage infrastructure.

 

The Company is focused on two areas in the UK. In Dorset, England, the Company is reviewing and developing opportunities covering Exploration, Gas Storage, Pipelines and Power Generation. In Antrim, Northern Ireland, the opportunities cover Exploration and Gas Storage. The Company and its partners are able to gain from a number of synergies between the different activities in each area.

 

All the projects have been initiated by the Company and are being funded through to the development stage by the introduction of new strategic partners.

 

Further information is available on the Company's website www.infrastrata.co.uk.

 

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.

 

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCSSFFIMFFSELI
Date   Source Headline
17th Dec 20129:42 amRNSPosting of Annual Report and Financial Statements
26th Nov 201210:39 amRNSDirector's Holdings in Company
26th Nov 20127:00 amRNSExploration Update
26th Nov 20127:00 amRNSFinal results for the year ended 31 July 2012
2nd Nov 20121:48 pmRNSHolding in Company
1st Nov 20127:00 amRNSNotification of Results
18th Oct 201210:31 amRNSIslandmagee Planning Permission Granted
10th Sep 20121:51 pmRNSNotification of Major Interest in Shares
14th Aug 20127:00 amRNSFarmout to Corfe Energy
2nd Aug 20127:00 amRNSAppointment of NOMAD and Broker
31st Jul 20127:00 amRNSSalt Production at Portland
30th Jul 20121:18 pmRNSBrigantes and Corfe Share Placings
3rd Jul 20127:00 amRNSCCS Innovation Programme Application
27th Jun 20127:00 amRNSCompletion of 2012 seismic survey in County Antrim
11th Jun 20121:26 pmRNSDirector/PDMR Shareholding
6th Jun 20127:00 amRNSAgreements with eCORP and Portland Port
29th May 20127:00 amRNSMobilisation for Infill Seismic Survey in NIreland
15th May 20123:55 pmRNSDirector/PDMR Shareholding
30th Apr 20127:00 amRNSInterim Results
12th Apr 20127:00 amRNSHolding(s) in Company
26th Mar 20127:00 amRNSFurther seismic acquisition in Northern Ireland
22nd Mar 20127:00 amRNSNotice of Results
12th Mar 201212:00 pmRNSDirector's Holdings in Company
12th Mar 201212:00 pmRNSDirector's Holding in Company
29th Feb 20125:21 pmRNSDirector/PDMR Shareholding
27th Feb 20122:04 pmRNSDirector/PDMR Shareholding
21st Feb 20127:00 amRNSFarm-in by Corfe Energy Limited
17th Feb 20127:00 amRNSDirector's Holdings in Company
27th Jan 20124:40 pmRNSSecond Price Monitoring Extn
27th Jan 20124:35 pmRNSPrice Monitoring Extension
24th Jan 201211:57 amRNSResult of AGM
20th Jan 20127:00 amRNSBP Gas Marketing equity option in Islandmagee
5th Jan 20129:26 amRNSOffer of exploration licence
14th Dec 201111:14 amRNSPosting of Annual Report and Financial Statements
15th Nov 20117:00 amRNSFinal Results
27th Oct 20117:00 amRNSNotice of Results
22nd Sep 20117:00 amRNSExclusivity Agreement signed - Islandmagee Project
12th Sep 20117:00 amRNSMobilisation for seismic survey in N.Ireland
1st Aug 201112:33 pmRNSSale of Interests in the Avington Oil field
16th Jun 20117:00 amRNSAppointment of Tesla-IMC as Seismic Contractor
9th May 20114:35 pmRNSPrice Monitoring Extension
9th May 20117:00 amRNSOperational update
6th May 20114:35 pmRNSPrice Monitoring Extension
28th Mar 20117:00 amRNSInterim results
17th Mar 20117:00 amRNSNotification of Results
4th Mar 201112:00 pmRNSLicence Award, Completion of Funding
1st Mar 201110:59 amRNSTotal Voting Rights
11th Feb 20112:53 pmRNSHolding(s) in Company
7th Feb 20117:00 amRNSPlacing of shares
3rd Feb 20119:30 amRNSHolding(s) in Company

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.