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
30th Mar 20207:00 amRNSMarine License – Completion of Consultation Period
17th Mar 20205:50 pmRNSCancellation of Consultation Event due to COVID-19
11th Mar 20207:00 amRNSConfirmation of EUR 1.3m Grant Reclaim Payment
2nd Mar 20203:30 pmRNSUpdate on EU grant reclaim
13th Feb 202012:20 pmRNSUpdate on Extension of Consultation Period
13th Feb 20207:04 amRNSHolding(s) in Company
10th Feb 20207:00 amRNSNew Asset Backed Debt Facility
7th Feb 20208:38 amRNSExtension of Public Consultation
5th Feb 20201:40 pmRNSHolding(s) in Company
31st Jan 20205:00 pmRNSTotal Voting Rights
31st Jan 20203:22 pmRNSResult of AGM
31st Jan 20207:00 amRNSAppointment of Non-Executive Director
29th Jan 20209:02 amRNSNotification and Public Disclosure of Transactions
29th Jan 20207:00 amRNSEXTENSION OF EXCLUSIVITY AGREEMENT
28th Jan 202011:55 amRNSIssuance of loan conversion shares
21st Jan 20205:42 pmRNSConfirmation of public consultation venues
16th Jan 20207:00 amRNSGrant of options
8th Jan 202012:15 pmRNSFinal Results
6th Jan 202012:34 pmRNSIssuance of loan conversion shares
31st Dec 20191:00 pmRNSTotal Voting Rights
27th Dec 20197:00 amRNSAppointment of Chairman
23rd Dec 20197:00 amRNSIssuance of loan conversion shares
23rd Dec 20197:00 amRNSAppointment of H&W Management Team
23rd Dec 20197:00 amRNSIslandmagee Project Update & 2019 Milestones
20th Dec 201911:49 amRNSIssue of shares and change to total voting rights
20th Dec 201910:15 amRNSIslandmagee Project - Update on Project Funding
19th Dec 20197:00 amRNSIslandmagee Gas Storage Project Marine Licence
16th Dec 201911:35 amRNSHolding(s) in Company
10th Dec 20191:35 pmRNSHolding(s) in Company
10th Dec 201912:45 pmRNSHolding(s) in Company
6th Dec 20197:00 amRNSAward of Contract
6th Dec 20197:00 amRNSResult of Offer & PrimaryBid Offer
5th Dec 201912:00 pmRNSCompletion of Harland & Wolff Asset Acquisition
4th Dec 201911:07 amRNSIssuance of loan conversion shares
4th Dec 201910:05 amRNSHolding(s) in Company
3rd Dec 20193:44 pmRNSHolding(s) in Company
3rd Dec 20193:25 pmRNSHolding(s) in Company
3rd Dec 201912:04 pmRNSHolding(s) in Company
29th Nov 20195:00 pmRNSTotal Voting Rights
29th Nov 20192:54 pmRNSResult of General Meeting
21st Nov 20197:00 amRNSMoU signed with Navantia
20th Nov 20198:00 amRNSPrimaryBid.com Offer
20th Nov 20197:00 amRNSFundraise of up to £1m via an Offer & PrimaryBid
19th Nov 20197:00 amRNSIssuance of loan conversion shares
14th Nov 201912:50 pmRNSNotice of GM & Further re loan facility
11th Nov 201912:35 pmRNSResult of Placing
11th Nov 20197:00 amRNSEquity placing and Harland and Wolff update
1st Nov 20195:55 pmRNSUpdate on EU Project of Common Interest status
1st Nov 20197:00 amRNSIslandmagee Gas Storage Project Update
1st Nov 20197:00 amRNSHarland and Wolff Update

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.