Reserves Based Lending Redetermination Completed

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

10 February 2023

IGas Energy plc (AIM: IGAS)

("IGas" or "the Company")

Reserves Based Lending (RBL) redetermination completed

IGas is pleased to confirm it has completed its scheduled six-monthly RBL facility redetermination process. 

The redetermination exercise confirms $17.0 million (£14.0 million) of debt capacity. Net debt was $7.3 million (£6.1 million) as at 31 December 2022.

The next RBL redetermination is scheduled to take place in June 2023.

For further information please contact:

IGas Energy plc Tel: +44 (0)20 7993 9899

Ann-marie Wilkinson, Chief Communications Officer

Investec Bank plc (NOMAD and Joint Corporate Broker) Tel: +44 (0)20 7597 5970

Virginia Bull/Chris Sim

Canaccord Genuity (Joint Corporate Broker) Tel: +44 (0)20 7523 8000

Henry Fitzgerald-O'Connor/James Asensio

Vigo Consulting Tel: +44 (0)20 7390 0230

Patrick d'Ancona/Finlay Thomson/Kendall Hill