Energy: Fracking with iGas

Fracking with iGas

A potential energy bonanza is under our feet, quite literally.
Locked in rock underground is Oil and Gas that is potentially able to be extracted using the technology called Fracking

At the forefront of this in the UK is IGas plc. [http://www.igasplc.com/]
IGas [http://www.shareshop.hsbc.co.uk/shareshop/security.cgi?csi=112867&action=] listed on the London Stock Exchange is a £283 million company, that just just purchased Dart Energy and has plans to drill in North West and in the East Midlands of England.

Strategic Investors are:

NEXEN PETROLEUM UK 19.25%
FRANCIS GUGEN 13.39%
BRENT CHESHIRE 5.54%
ANDREW AUSTIN 5.32%
HENDERSON GLOBAL INVESTORS 4.36%
BAILLIE GIFFORD 3.92%
PETER LEVINE/PLLG INVESTMENTS LIMITED 2.94%

39.08% shares in issue are considered not to be in public hands, they are held by the strategic investors.

The UK is no stranger to onshore oil, with the former BP site of Wytch Farm in Dorset [http://www.perenco-uk.com/about-us/wytch-farm.html], that BP sold to Perenco.

With the geo-politics always surrounding the energy sector, and more recently the concerns with gas supplies from Gazprom and the Ukraine crisis, being dependent on energy from overseas is always a risk, but with energy locked beneath our feet, the ability to get oil and gas is a real opportunity and of course is good for the UK balance of payments and the wider economy, as it offers the ability to create UK jobs and delivering energy security.

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