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
31st Jan 201111:58 amRNSResults of Annual General Meeting
24th Jan 20119:34 amRNSPosting of Annual Financial Report
18th Jan 20117:00 amRNSBoard Changes
12th Jan 20113:04 pmRNSDirector/PDMR Shareholding
11th Jan 20116:08 pmRNSHolding(s) in Company
4th Jan 20112:29 pmRNSHolding(s) in Company
4th Jan 201111:26 amRNSTotal Voting Rights
4th Jan 20119:42 amRNSHolding(s) in Company
30th Dec 20102:25 pmRNSHolding(s) in Company
30th Dec 20102:24 pmRNSHolding(s) in Company
29th Dec 20103:24 pmRNSHolding(s) in Company
29th Dec 20102:30 pmRNSHolding(s) in Company
29th Dec 20102:26 pmRNSHolding(s) in Company
24th Dec 201012:46 pmRNSNotification of Major Interest in Shares
24th Dec 20109:19 amRNSNotification of Major Interest in Shares
23rd Dec 20102:47 pmRNSHolding(s) in Company
23rd Dec 201012:21 pmRNSHolding(s) in Company
23rd Dec 20108:47 amRNSHolding(s) in Company
23rd Dec 20107:00 amRNSHolding(s) in Company
21st Dec 20104:33 pmRNSHolding(s) in Company
21st Dec 20104:25 pmRNSIssue of Equity, TVR and Director's Holding
16th Dec 201012:55 pmRNSHolding(s) in Company
14th Dec 20107:00 amRNSFinal Results
3rd Dec 20103:24 pmRNSBoard Change
1st Dec 20106:04 pmRNSHolding(s) in Company
26th Nov 20107:00 amRNSProject Funding Update
19th Nov 20107:00 amRNSNorthern Ireland Exploration Licence
17th Nov 20107:00 amRNSNotification of Results
8th Nov 20107:00 amRNSUpdate on the sale of equity
7th Oct 20105:20 pmRNSHolding(s) in Company
4th Oct 20107:00 amRNSLegal Agreement with eCORP
16th Aug 20104:22 pmRNSDirector/PDMR Shareholding
11th Aug 20104:40 pmRNSDirector Shareholding
15th Jul 20104:35 pmRNSPrice Monitoring Extension
6th Jul 20107:00 amRNSGas Storage Seminar
5th Jul 20104:40 pmRNSSecond Price Monitoring Extn
5th Jul 20104:35 pmRNSPrice Monitoring Extension
29th Jun 20107:00 amRNSAgreement on gas storage co-operation
22nd Apr 20107:00 amRNSAppointment
19th Apr 20107:00 amRNSInterim Results
23rd Mar 201010:00 amRNSPlanning Submission Islandmagee Storage Project
10th Feb 201010:50 amRNSUpdate on the Islandmagee Storage Project
12th Jan 201010:30 amRNSHolding(s) in Company
16th Dec 20099:13 amRNSNew LSE Ticker
15th Dec 20094:11 pmRNSDirectors' Share Acquisition
15th Dec 200912:39 pmRNSResult of AGM
11th Dec 20099:43 amRNSHolding(s) in Company
27th Nov 20092:58 pmRNSDirector/PDMR Shareholding
18th Nov 20095:57 pmRNSHolding(s) in Company
12th Nov 200912:54 pmRNSAnnual report and accounts

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.