RNS Releases
16 March 2016 - Notice of Interim Results PDF Print E-mail

InfraStrata plc (AIM:INFA), the independent petroleum exploration and gas storage company, advises that it will be announcing its interim results for the six months ended 31 January 2016 on Tuesday, 22 March 2016.

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11 March 2016 - Woodburn Forest -1 well commencement of wellsite construction PDF Print E-mail

The Board of InfraStrata plc (AIM:INFA), the independent petroleum exploration and gas storage company, is pleased to announce that wellsite construction has commenced for the Woodburn Forest-1 well in Northern Ireland. The drilling of the well is expected to commence in May 2016.

Commenting, Andrew Hindle, CEO of InfraStrata said:

“We are pleased that the preparations for the well are underway. The well will target three conventional sandstone reservoir intervals, the Triassic Sherwood, Permian Lower Permian Sandstone and Carboniferous Sandstones. The P50 Prospective Resources have been estimated by the joint venture at 25 million barrels of oil (“MMBO”) (net 2.5 MMBO1 to InfraStrata) within the Woodburn Forest prospect.

If the well encounters petroleum it would confirm the wider prospectivity of the Larne-Lough Neagh Basin within the area licenced to InfraStrata and partners. The Directors of InfraStrata believe this in turn would have a very positive impact on the economy of Northern Ireland.

We appreciate the support of a number of local contractors who will be employed by InfraStrata over the coming weeks.”

1 Assumes that InfraStrata retains a 10% interest in the project if all agreements proceed as previously announced on 19 January 2016 and subject to approval of Department of Enterprise, Trade and Investment on licence interest assignments.

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02 March 2016 - Appointment of advisers for Islandmagee monetisation PDF Print E-mail

The Board of InfraStrata plc (AIM:INFA), the independent petroleum exploration and gas storage company, is pleased to announce that two advisers have been appointed to assist with the monetisation of the Islandmagee gas storage project.

VSA Capital Ltd has been appointed to advise InfraStrata plc in relation to the monetisation process and Centrus Advisors LLP has been appointed by project company, Islandmagee Storage Limited, to support the process at a project level. Both appointments are effective from 1 March 2016.

Commenting on the announcement, Andrew Hindle, CEO of InfraStrata said:

“The appointment of the advisers today marks an important milestone for the Islandmagee gas storage project.

The recent announcement in January that we had been informed by the European Commission that the project has been provisionally selected for grant funding under the Connecting Europe Facility of 50% of the costs associated with Front End Engineering & Design (“FEED”) up to €4 million further demonstrated the important credentials of the project.

To date over £11million has been invested in the project, to acquire 3D seismic data, drill a well to acquire salt cores, undertake engineering design work, acquire rights on the full land assembly, and obtain planning permission and other consents required to construct the project. The project partners, InfraStrata and Northern Ireland based Mutual Energy, are now seeking a company or companies able to take the strategically important project through the final stage of FEED and into full construction.

We look forward to working with Centrus and VSA (previously Joint Broker to the Company) in the coming months as we pursue a range of options to realise the best value for shareholders.”

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02 March 2016 - Change of Broker PDF Print E-mail

The Board of InfraStrata plc (AIM:INFA), the independent petroleum exploration and gas storage company, announces that Allenby Capital Limited is now the sole broker to the Company (and remains its Nominated Adviser).

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01 February 2016 - Data sharing agreement signed PDF Print E-mail

The Board of InfraStrata plc (AIM:INFA), the independent petroleum exploration and gas storage company, is pleased to announce that it has concluded an agreement for the sharing, interpretation and integration of data in respect of proprietary data in Northern Ireland acquired by InfraStrata for the Islandmagee gas storage project. The consideration for sharing this data is £500,000 in cash, payable to InfraStrata immediately. This follows a similar data agreement announced in January 2015. These funds will be applied towards the Company's 2016 work programme, central to which is the monetisation of the Islandmagee gas storage project

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