RNS Number : 9833C
Igas Energy PLC
25 January 2018
 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

25 January 2018

IGas Energy plc (AIM: IGAS)

("IGas" or the "Company")

 

Ellesmere Port Planning Committee Decision

 

IGas Energy plc, a leading UK onshore oil and gas explorer and producer, is disappointed that the Chester West and Chester Council's Planning and Licensing Committee has not granted planning consent for routine tests on a rock formation encountered in the Ellesmere Port-1 well, drilled in late 2014.

Stephen Bowler, CEO of IGas, said:

"We are very disappointed by the Committee decision that goes against the recommendation of their Planning Officer and is an application that accords with both national and local planning policy as set out in our planning statement and has the necessary environmental permits in place.

Our businesses have been operating exploration and production sites in a safe and environmentally sensitive manner across Britain for many years, engaging with communities and employing local people and investing in the local supply chain.

We are at a critical juncture in the future of our energy mix and supply, as we move away from coal towards lower carbon energy sources. We are currently importing c. 50% of gas and that is set to rise to nearly 80% by 2035.

We will now take time to consider our options including our right to bring forward an appeal."

 

For further information please contact:

IGas Energy plc

Tel: +44 (0)20 7993 9899

Stephen Bowler, Chief Executive Officer

John Blaymires, Chief Operating Officer

Ann-marie Wilkinson, Director of Corporate Affairs

 

Investec Bank plc (NOMAD and Joint Corporate Broker)

Tel: +44 (0)20 7597 4000

Sara Hale/Jeremy Ellis/George Price

 

Canaccord Genuity (Joint Corporate Broker)

Tel: +44 (0)20 7523 8000

Henry Fitzgerald-O'Connor

 

Vigo Communications

Tel: +44 (0)20 7830 9700

Patrick d'Ancona/Chris McMahon


This information is provided by RNS
The company news service from the London Stock Exchange
 
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