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IGas looking for Bowland shale partner

IGas Energy is looking for an industry partner to farm in to its Bowland shale-gas prospect
June 18, 2012

IGas Energy has received several expressions of interest to farm into its Bowland shale prospect in the east Midlands and is formally seeking a partner, which underlines our enthusiasm for the shares.

IC TIP: Buy at 66p

The company's Ince Marshes coal-bed methane well recently intersected a significant shale section of at least 1,000 feet, with gas indications observed. This is the same shale structure that privately-owned Cuadrilla Resources made headlines with last year, when it estimated it had found 200 trillion cubic feet of gas in place based on just two wells. Logs and samples for IGas's well are now being analysed to confirm the presence of hydrocarbons and identify prospective zones.