Business
Trading Statement
Trading Statement.
About this update from Star Energy Group Plc
[{"type":"text","content":"\n RNS Number : 4526F Igas Energy PLC 13 January 2010 \n \n\n13 January 2010\n\nIGas Energy plc\n('IGas' 'the Company' or 'the Group')\nOperational Update\nOn Track for full scale UK Gas Production next year\nThe board of IGas, the leading coal bed methane (CBM) developer in the UK, is delighted to provide the following operational update. \nHighlights\n\n\nCurrent production - Despite severe winter conditions production continued at Doe Green\n\n\nPilot production expansion - Site construction started during December on IGas' second pilot site at Keele University\n\n\nFull scale Production - Planning now granted for full production site at Ellesmere Port, four further full production site applications submitted\n\n\nGas resources - Gas Initially in Place (GIIP)estimates increased again to over 3.5 tcf mid case \n\n\nMarketing campaign launched to intensive energy users in the North West\n\n\nAndrew Austin, Chief Executive Officer said: \n\"The harshest winter for some 40 years in the UK has lead to gas interruptions and highlights the need for an alternative to imported gas to maintain security of supply. IGas now has the funds, the technical knowledge and the sites close to major industrial areas to start delivering secure gas commercially. IGas has met its stated objectives for 2009 which keeps it on track for commencement of full scale UK Gas Production next year.\" \n\nCurrent Production - Doe Green\nDespite severe weather conditions, the Company continues to produce at Doe Green where the Company has 3 lateral and 1 vertical wells. One of these laterals (Doe Green well 2) has been in production for over a year, the other laterals and vertical are currently dewatering. Gas produced at Doe Green is being used to generate electricity, which is being sold via the electricity grid. \n Second Pilot production site - Keele University\nIn October 2009 IGas announced that it had finalised the well design for its site at Keele University Science Park and the land agreements were in place. \nThe Company is delighted to announce that work started on site as planned during December.\nThe objective of this well is to produce gas from a lateral in the Great Row seam, which is at a depth of 1,757 feet from surface...