LONDON--Igas Energy PLC (IGAS.LN), a U.K. producer of onshore
hydrocarbons, said Monday it has completed drilling operations on
the Irlam-1 well at Barton Moss in Eccles, encountering coal
measures at anticipated depths.
MAIN FACTS:
-The well also successfully intersected the secondary target of
the Dinantian limestone to calibrate the seismic data and in doing
so, the well also found a package comprising the Sabden and Bowland
Shale formations.
-Well will now be suspended and demobilization of the rig and
equipment will take place.
-IGas is now in the process of implementing a program to acquire
100 km2 of 3-D seismic data in the North West with a view to
firming up several potential exploration and development sites in
the area, prior to the drilling of the next well.
-In the East Midlands Igas has now completed the 3-D seismic
acquisition on PEDL 139/140 on behalf of its joint venture
partners, Total E&P U.K. Ltd., Egdon Resources PLC (EDR.LN),
Dart Energy and eCorp.
-Shares at 0830 GMT down 3 pence, or 2.69%, at 118 pence valuing
the company at 241 million pounds.
-Write to Ian Walker at ian.walker@wsj.com
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