RNS Releases
21 January 2015 - Board Changes PDF Print E-mail

The Board of InfraStrata plc (AIM:INFA), the independent petroleum exploration and gas storage company, is pleased to confirm the appointment today of Alan Booth as Non-Executive Director, as stated in the announcement issued on 17 December 2014, following the Company’s AGM today.

Alan Booth has 32 years' experience in oil and gas exploration, at Amerada Hess, Oryx Energy, and Encana. More recently, he was Co-Founder and Chief Executive Officer of EnCore Oil plc which was sold to Premier Oil plc in 2012. Alan was a Co- Founder and is currently Director of EnCounter Oil Ltd.

He holds a BSc in Geology from the University of Nottingham and an MSc in Petroleum Geology from the Royal School of Mines, Imperial College. Alan is a former president of Petroleum Exploration Society of Great Britain and UK Offshore Operators Association (UKOOA), and currently a director of the Oil and Gas Independents Association (OGIA).

Alan Booth holds 3,000,000 shares in the Company, representing 3.02% of the issued share capital.

At the same time William Colvin, has retired as a Non-Executive Director of InfraStrata plc with effect from 31 January 2015.

Ken Ratcliff, the Chairman of InfraStrata plc said:

“I am very pleased to confirm the appointment of Alan Booth to our Board of Directors. Alan brings a wealth of relevant experience to the Company at a time when we approach milestone opportunities in respect of our key projects. Alan’s personality and background will considerably enhance the profile of the Company and we look forward to his proactive contribution.

In a coincident but unrelated move, Bill Colvin has decided to step down from the Board of Directors in order to concentrate on other commercial interests where there are more pressing needs for his involvement. We are sorry to lose Bill and I would like to express my thanks to him for his considerable contribution to the Company both as Director and as chairman of the Audit Committee. We wish him well in his many and varied interests..”

pdf View or download the release 
 
21 January 2015 - Results of Annual General Meeting PDF Print E-mail

The Directors of InfraStrata are pleased to announce that at the Annual General Meeting held at the offices of Buchanan Communications at 11.30 am on 21 January 2015 all resolutions put before the meeting were duly passed.

Following the passing of the relevant resolutions, the existing 99,491,599 ordinary shares of 10p each in the Company have been subdivided into 99,491,599 ordinary shares of 1p each (“New Ordinary Shares”) and 895,424,391 deferred shares of 1p each.

Application has been made for the 99,491,599 ordinary shares of 1p each to be admitted to trading. It is expected that admission of the New Ordinary Shares will occur on 22 January 2015.

At the meeting the Executive Directors presented an operational update which is now available on the Company's website http://www.infrastrata.co.uk/.

pdf View or download the release 
 
17 December 2014 - Appointment of Director 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 appointed Alan Booth (aged 56) as a Non-Executive Director. His appointment will take effect following the Company’s AGM on 21 January 2015.

Alan Booth has 32 years experience in oil and gas exploration, at Amerada Hess, Oryx Energy, and Encana. More recently, he was Co-Founder and Chief Executive Officer of EnCore Oil plc which was sold to Premier Oil plc in 2012. Alan was a Co-Founder and is currently Director of EnCounter Oil Ltd.

He holds a BSc in Geology from the University of Nottingham and an MSc in Petroleum Geology from the Royal School Mines, Imperial College. Alan is a former president of Petroleum Exploration Society of Great Britain and UK Offshore Operators Association (UKOOA), and currently a director of the Oil and Gas Independents Association (OGIA).

Alan Booth holds 3,000,000 shares in the Company, representing 3.02% of the issued share capital.

Ken Ratcliff, the Chairman of InfraStrata plc said:

“We are delighted that Alan will be joining the Board of InfraStrata. Alan has had an outstanding career in oil and gas exploration with a proven track record of managing very successful teams of geoscientists and engineers. He will further strengthen our Board at a time when InfraStrata is reaching a key point in its development as the Company moves into a high impact drilling programme in 2015.”

pdf View or download the release 
 
17 December 2014 - Posting of Annual Report PDF Print E-mail

InfraStrata plc is pleased to advise that the Annual Report and Financial Statements for the year ended 31 July 2014 and AGM Notice have been posted to shareholders today. A copy of the document is also now available on the Company website (www.infrastrata.co.uk).

pdf View or download the release 
 
16 December 2014 - Asset Exchange Agreement with Fyrd Energy 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 signed a binding Heads of Agreement for an Asset Exchange (“Agreement”) with Fyrd Energy Limited (“Fyrd”).

Under the terms of the Agreement, InfraStrata will acquire a 25% interest in UK Promote Licence P2235, recently offered to Fyrd in the Department of Energy and Climate Change (“DECC”) 28th Seaward Licencing Round. The assignment will be subject to DECC approval. In return, InfraStrata will assign its rights and intellectual property in the Portland project (excluding the gas pipeline construction authorisation and associated rights) to a new project company Integrated GeoRenewables (Dorset) Limited (“IGR”), managed by the principals of Fyrd, Alan Booth and Jon Taylor. InfraStrata will hold a 22.5% shareholding in IGR and be carried for the first £200,000 of expenditure by IGR. IGR will also be granted an option to acquire the gas pipeline rights from InfraStrata, in return for the Company being carried for a further £200,000 of expenditure by IGR.

IGR will seek to evaluate the potential to develop an integrated geo-renewable energy project with a hub in the Portland area of Dorset. There are already a number of renewable projects planned for the area (wind and tidal). IGR believes there is the potential to use the unique deep geology of the area to improve the efficiency of renewable generation, using such technologies as geothermal energy or compressed air storage. The existing sub-surface geological and engineering work (including deep drilling and seismic data), surface facilities engineering and environmental work undertaken by InfraStrata for its former planned gas storage project at Portland will have a significant value for IGR.

P2235 comprises Block 11/24b (part) and contains the Wild Boar Prospect, 3 kilometres North East of and structurally updip of the producing Lybster oilfield within the Moray Firth. Fyrd estimates that if successful the Minimum, Most Likely and Maximum Prospective Resources to be 10, 70 and 266 million barrels of oil (“mmbo”) respectively (net InfraStrata 2.5, 17.5, 66.5 mmbo respectively). The prospect lies close to the coast and there is the potential to drill an exploration well from onshore to offshore.

Andrew Hindle, the CEO of InfraStrata plc said:

“This transaction fits well with our strategy of acquiring front-end exploration opportunities. In this case we have been able to leverage access to the opportunity by securing value from our Portland project assets.

The exploration project is a high impact project for a company of InfraStrata’s size and widens our exposure to exploration opportunities in the UK. Two of InfraStrata’s existing projects involve onshore to offshore drilling, at Islandmagee and in Dorset, and so InfraStrata will be able to bring useful expertise and insights to the Joint Venture.

InfraStrata is also excited to be part of a new phase in developing opportunities in the Portland area, which could have material upside for the Company in the coming years.”

pdf View or download the release 
 
<< Start < Prev 1 2 3 4 5 6 7 8 9 10 Next > End >>

Results 82 - 90 of 270