Business
Update on Shale Resource and
Update on Shale Resource and.
About this update from Star Energy Group Plc
[{"type":"text","content":"\n RNS Number : 5917U Igas Energy PLC 19 October 2010 \n \n\n19 October 2010\nIGAS ENERGY PLC\n(\"IGas\", \"the Company\" or \"the Group\")\nIncreased Production at Doe Green and Update on Shale Resource \n \nDoe Green Gas Production- up by 40%\n \nIGas Energy plc, a domestic gas producer and a leading developer of unconventional gas resources in the UK, is delighted to announce that it has increased average gas production at its Doe Green site near Warrington in Cheshire by around 40% per cent. \n \nThis increase has been achieved following the implementation of a range of measures designed to optimise the de-watering process at the site's DG2 well. The contributing laterals (understood to be over 1,000 feet in length) have now been producing at the increased rate of around 60,000 standard cubic feet (scf) per day of high quality CBM for over six weeks.\n \nIGas has been steadily producing gas and generating electricity for over a year from Doe Green and remains on track to establish the UK's first CBM full production site in 2011. The Company could potentially increase its operations at Doe Green, and as a consequence has applied for planning permission for two more wells on the site.\n \nIGas is the largest independent CBM producer in the UK. Based on the Contingent resource estimates prepared by D&M, the Company's independent reserve assessors, the Company has enough gas to supply electricity to over 7 per cent of the UK's household's for 15 years.\n \nShale Resource- up to 1.95 Tcf unrisked Gas Initially In Place (GIIP)\n \nOn behalf of IGas, Equipoise Solutions Ltd, has undertaken an independent review of the shale gas potential of the Holywell shale within certain interests held by IGas, across the North West of England and North Wales. These interests comprise UK Onshore Licences PEDL 116, 145, 184, 190 and 193, and UK Offshore Blocks 110/18 (part), 110/19 (part) and 110/23.\n \nThe Holywell shale is documented as having organic rich bands of sediment with relatively high total organic carbon, and it, or its lateral equivalents, form the source rock for hydrocarbons offshore in the East Irish Sea, and many of the onshore UK oil and gas fields. \n \nDue to the very limited data available for the Holywell shale, and indeed analogue produci...