4th Jan 2022 14:05
IGas Energy PLC - Lincoln-based oil and gas exploration and production company - Completes six-monthly reserves based lending redetermination process. Redetermination confirms GBP19.3 million of debt capacity. IGas Energy's cash balance was GBP3.2 million at November 30 with GBP13.4 million net debt.
IGas Energy says 216,000 barrels of oil or natural gas liquids are currently hedged in 2022 using swaps at an average price of USD68 per barrels of oil or natural gas liquids and 114,000 barrels of oil or natural gas liquids using puts with an average guaranteed minimum price of USD44 per barrels of oil or natural gas liquids.
Current stock price: 12.90 pence, down 3.9%
By Heather Rydings; [email protected]
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