The Board of IGas is pleased to announce its financial results for the 15 month period ended 31 March 2012.HighlightsStrategic
Andrew Austin, CEO Said "Hydrocarbons from unconventional sources have transformed the global market. The results of this year's programme, particularly from our well at Ince marshes, are potentially transformational for the Group. ...
The company is in the process of acquiring the necessary permits for the drilling of its initial well, the RK-22, on Cub's 100% owned and operated Rusko-Komarovske licence.
Gross production from the Olgovskoye Licence averaged 11.42MMcf/d to KUB-Gas (3.5 MMcf/d net to Cub) during the month of February, representing approximately 40% of total production from all of Cub's licences.