Business
IGas Success in 13th Round Ap
IGas Success in 13th Round Ap.
About this update from Star Energy Group Plc
[{"type":"text","content":"\n RNS Number : 4620V Island Gas Resources PLC 29 May 2008 \n \nIsland Gas Success in 13th Round applications\n\nIGas, a leading developer of Coal Bed Methane ('CBM') in the UK and prospective producer of North Sea quality gas from virgin coal seams, is delighted to announce that it has been highly successful in the 13th onshore oil and gas licensing round announced yesterday by the Secretary of State for Business, John Hutton.\n \nIGas along with its partner Nexen Exploration UK have been offered seven blocks in three Petroleum Exploration and Development Licenses (PEDLs):\n\n\n\n\n\n\nPEDL\n\n\nBlocks\n\n\n\n\n184\n\n\nSJ27\n\n\n\n\n\n\n\nSJ28\n\n\n\n\n\n\n\nSJ37\n\n\n\n\n\n\n\n\n\n\n\n\n190\n\n\nSJ47\n\n\n\n\n\n\n\n\n\n\n\n\n193\n\n\nSJ68\n\n\n\n\n\n\n\nSJ69\n\n\n\n\n\n\n\nSJ79\n\n\n\n\n \n\nThese blocks are sited within IGas' principle target areas in the North West of England and are all within 15 kms of existing drilling operations.\n\nIGas will have an ownership interest of 20 per cent in these new PEDLs which will cover a gross area of approximately 640 sq km adding to the 1000 sq km already in the portfolio.\n\nAndrew Austin CEO of IGas said 'Success in the 13th round was one of our stated objectives when we were admitted to AIM in December 2007 - we are delighted that once again we have been able to deliver on these objectives amid significant competition from major international companies. Given the current economic climate the inherent value of UK sourced fuel is becoming ever more apparent as is the contribution that coal bed methane can and will make. This award represents a 64% enlargement of our acreage and therefore increases significantly IGas' potential own contribution to the security of energy supply in the UK.'\n\nOn 7th November 2007, the Secretary of State invited applications for Licences in the 13th Landward Licensing Round. Offers will start to go out on 30 May. 97 Petroleum Exploration and Development Licenses (PEDLs) will be offered to 54 applicants. \n \n \nFor further information contact:\n\n\n\n\n\n\nGavin Anderson & Company\n\n\n +44 (0)20 7554 1400\n\n\n\n\nKen Cronin\...