Igas Energy reports encouraging testing results at Tinkler Lane prospect in UK
Source - SMW
Igas Energy said early test work at its Tinkler Lane exploration site in Nottinghamshire had produced encouraging results.
The company was responding to a story in the Sun newspaper that claimed the well was successful.
Igas said an analysis of shale samples at the site was still subject to further testing and validation.
Drilling operations at the separate Springs Road-1 were are progressing well, it added.
Egdon Resources is also a shareholder in the prospect.
'We have encountered shales on prognosis, at around 2,200 meteres, including the Bowland Shale horizon and coring will commence imminently,' Igas said.
'The rate of drilling at Springs Road has been quicker than anticipated, building on our learnings and operating efficiencies from Tinker Lane and augurs well for the future.'
At 1:50pm: (LON:IGAS) Igas Energy PLC share price was 0p at 66.1p