UK oil and gas firm IGas Energy (IGAS) made front page headlines around Britain this week after the company announced that its licences in north-west England could hold between 15 and 172 trillion cubic feet (Tcf) of shale gas.
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Although we caution that the estimate is very preliminary by nature, this is considerably higher than previously thought, and IGas pegs the most likely amount of gas in place at around 102 Tcf in an area covering about 300 square miles of Cheshire.