Business
Operational Update - Springs Road Well
Operational Update - Springs Road Well.
About this update from Star Energy Group Plc
[{"type":"text","content":"\n \nRNS Number : 4238S Igas Energy PLC 11 March 2019 \n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.\n11 March 2019\nIGas Energy plc (AIM: IGAS)\n(\"IGas\" or \"the Company\")\nOperational Update - Springs Road Well\nSignificant advancement in UK Shale prospectivity - over 250 metres of hydrocarbon\nbearing shales encountered\n \nIGas is pleased to announce an update regarding the SR-01 well at Springs Road in North Nottinghamshire.\nFurther to our announcement on 15 February 2019, we have now encountered a hydrocarbon bearing shale sequence of over 250 metres, including the upper and lower Bowland Shale. Significant gas indications were observed throughout the shale section and additionally within sands in the Millstone Grit sequence. \nA video showing some recovered core from the well effervescing gas when immersed in water can be viewed here: https://youtu.be/dnZDrTLWiyQ and on the website at www.igasplc.com\nWe have now completed this phase of data acquisition which included the recovery of approximately 150m of shale core and an extensive wireline logging program across the Millstone Grit, and Upper and Lower Bowland Shale. Petrophysical and core analysis is currently being conducted, which will give us further insight into the resource potential and shale characterisation that will be utilised for future appraisal and development of the wider East Midlands area.\nWe will give a further update following the completion of the majority of the analysis in Q2.\nHaving encountered both primary and secondary targets on prognosis we are now drilling into the tertiary target, to prove up the potential for multiple hydrocarbon bearing horizons within the Gainsborough Trough.\nThe rate of drilling at Springs Road has been quicker than anticipated, building on our learnings and operating efficiencies from Tinker Lane.\nThe analysis of the Tinker Lane core samples is still ongoing.\nCommenting, Stephen Bowler, CEO said:\n\"I am delighted to report that we have recovered high quality hydrocarbon bearing cores at our Springs Road site. The data gathered to date shows that there are significant prospective resources in our East Midlands acreage and is another important step for the UK onshore industry.\nThere is the potential for the gas beneath our feet to contribute materially to the UK energy needs. Gas...