Business
IGas secures a land Partner
IGas secures a land Partner.
About this update from Star Energy Group Plc
[{"type":"text","content":"\n RNS Number : 1267E Island Gas Resources PLC 24 September 2008 \n \n24 September 08\nISLAND GAS RESOURCES PLC\n(‘IGas’ or ‘the Company’)\n \nIGas secures a land Partner in the North West of England\n\nFollowing on from the announcement earlier this year that IGas, along with its partner Nexen Exploration (“Nexen”), had been highly successful in the 13th onshore oil and gas licensing round with offers for seven blocks in three Petroleum Exploration and Development Licences (PEDLs), IGas is now delighted to announce a framework agreement with Peel Environmental Ltd (“Peel”) that gives access to coal bed methane production sites within Peel’s land holdings in the North West. IGas/Nexen has licences over more than 700km2 between Manchester and the Mersey/Dee estuaries. This area is also at the core of Peel’s operations.\nAs part of the agreement Peel will give unlimited access to their entire land holdings in the North West of England for the purpose of identifying those sites suitable for IGas/Nexen’s operations. The agreement includes commercial arrangements for leases of sites once planning permission has been granted.\n\nThis agreement will allow more rapid access to reserves and will allow planning permissions to be applied for in a timely manner.\n\nAndrew Austin, CEO of IGas, said, “This is excellent news as there is a good fit between Peel’s land and our portfolio in the North West; this agreement will allow us to push through regional gas development at a quicker rate”.\nOwen Michaelson, Corporate Director for Peel Holdings [Limited/plc] said, “We are extremely pleased to be working with IGas and Nexen to help them develop domestic energy for the North West from a truly local source. This will help reduce the North West’s reliance on imported energy for our local energy needs”\n\n \nFor further information please contact:\n\n\n\n\n\nIsland Gas\n\n\nTel: +44 (0)20 7993 9901\n\n\n\n\nAndrew Austin, Chief Executive Officer \n\n\n \n\n\n\n\nGavin Anderson & Company\n\n\nTel: +44 (0)20 7554 1400\n\n\n\n\nKen Cronin\n\n\n \n\n\n\n\nKate Hill \n\n\n \n\n\n\n\nBrewin Dolphin Investment Banking\n\n\nTel:  ...