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
21st Jan 201512:43 pmRNSResults of Annual General Meeting
17th Dec 20147:05 amRNSAppointment of Director
17th Dec 20147:00 amRNSPosting of Annual Report
16th Dec 201411:44 amRNSAsset Exchange Agreement with Fyrd Energy
2nd Dec 20147:00 amRNSFinal results for the year ended 31 July 2014
1st Dec 20143:42 pmRNSAppointment of Joint Broker
26th Nov 20147:00 amRNSIslandmagee receives Approval for EU Grant Funding
20th Nov 20148:01 amRNSNotification of Results
10th Nov 20147:00 amRNS28th Round Licence Award
30th Oct 20143:20 pmRNSCompletion of drilling - Burton on the Wolds -1
29th Oct 20147:00 amRNSBoard Changes
27th Oct 20147:00 amRNSDorset Exploration Agreement Signed
22nd Oct 20147:00 amRNSCommencement of drilling - Burton on the Wolds-1
30th Sep 20141:21 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
19th Sep 20149:12 amRNSUpdate on Burton on the wolds well
19th Sep 20147:00 amRNSShare Options Granted
15th Sep 20147:00 amRNSOperations Update
18th Jul 20147:00 amRNSExploration Agreement Signed
29th Apr 201412:37 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARE
29th Apr 20147:00 amRNSInterim results
28th Apr 20147:00 amRNSNew Ventures Exploration Agreement Signed
2nd Apr 20147:00 amRNSNotification of Interim Results
20th Mar 20143:23 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
10th Mar 201410:09 amRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
28th Jan 20147:00 amRNSIslandmagee gas storage project update
21st Jan 201411:53 amRNSResults of Annual General Meeting
21st Jan 20147:01 amRNSExploration Operations Update
21st Jan 20147:00 amRNSBoard Change
17th Dec 20137:00 amRNSPosting of Annual Report and Financial Statements
3rd Dec 20137:00 amRNSFinal Results
2nd Dec 20137:00 amRNS27th Round awards and planning approval
1st Nov 20137:00 amRNSNotification of Results
22nd Oct 20131:25 pmRNSHM Treasury Support for Islandmagee Gas Storage
16th Oct 201312:30 pmRNSPCI status granted to Islandmagee Storage Project
8th Oct 20137:00 amRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
27th Sep 201311:27 amRNSOption entitlements
25th Sep 20137:00 amRNSAppointment of Finance Director
23rd Sep 201311:20 amRNSPlacing of 8,000,000 New Ordinary Shares
3rd Sep 20138:32 amRNSNotification of Major Interest in Shares
8th Aug 20137:00 amRNSOperational Update
18th Jun 20134:18 pmRNSDirector's Holdings in Company
14th Jun 20132:30 pmRNSDirector's Holdings and Total Voting Rights
9th May 20137:00 amRNSContract for Islandmagee wellsite awarded
23rd Apr 20137:00 amRNSResignation of Director
4th Apr 20137:00 amRNSAcquisition of interests by Corfe Energy
25th Mar 20137:00 amRNSInterim results
18th Mar 20137:00 amRNSProspectivity review and update for PL1/10 licence
1st Mar 20137:00 amRNSNotice of Results
25th Jan 201311:47 amRNSResults of Annual General Meeting
2nd Jan 20132:44 pmRNSShare Options Granted

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.