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Igas Energy

17:01 on 17/11/2017

Current Price 78.10p | Bid 77.50p | Ask 79.00p | Change 0.32%

Company Overview

IGas Energy plc (formerly Island Gas Resources plc, formerly KP Renewables plc) was set up to produce and market domestic sourced gas, primarily from unconventional reservoirs, particularly coal bed methane. IGas Energy is now producing gas from its pilot production site at Doe Green in Warrington and selling electricity through its on-site generation, a UK first from CBM. Initial production rates indicate that the Company should exceed its threshold for commerciality. IGas Energy has ownership interests of between 20 and 100 per cent in eleven PEDLs in the UK, wholly owns two methane drainage licences and has a 75 per cent interest in three offshore blocks under one Seaward Petroleum Production Licence. These licenses cover a gross area of approximately 1,756 km2. The mid case GIIP is up 328 per cent. from 893 Bcf at year end 2007 to 3,823 Bcf (source: Equipoise Solutions Ltd). The coal seam both generates and traps the gas, which can be extracted by drilling into the seam and collected for use as fuel. CBM is exactly the same as other forms of natural gas, and is used to provide both industrial and domestic power and has the potential to be an important new source of energy for the UK.

Stock Details

Shares in Issue 301,828,772
Market cap £ 39.99m
Sector Oil & Gas Producers
Indices FTSE AIM All-Share Index

Key Personnel

Andrew Austin CEO
John Blaymires COO

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Price Summary

Mid Price ? 78.25p
Bid Price ? 77.50p
Ask Price ? 79.00p
Volume ? 17697
Change Today 0.25p
% Change Today 0.32%
Open 78.50p
Previous Close 78.25p
Intraday High 80.00p
Intraday Low 78.10p
52 Week High 24.00p
52 Week Low 10.00p

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Broker Consensus

The above information represents a selection of the views and target prices published in the last 120 days by analysts in individual stocks. It is subject to change without notice and may not necessarily be the view held by Redmayne-Bentley.

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