Infrastrata on Tuesday entered into a contract with WSP Global to provide engineer services for the front end engineering and design (FEED) programme at the Islandmagee project.
UK gas storage firm Infrastrata announced on Monday that it has appointed salt cavern gas-storage specialist Evan Passaris to strengthen the company's operational team.
(WebFG News) - Gas storage company InfraStrata has entered into a contract with Costain to carry out the surface element of the front-end engineering design for the Islandmagee gas storage project, it announced on Monday.
Gas storage company InfraStrata has conditionally raised £925,000 through a placing and subscription offer, with the proceeds of the placing to be used to enable funding of its Front End Engineering Design (FEED) project.
Shares in AIM-listed gas storage business Infrastrata tumbled on Thursday after the group announced it had conditionally raised £375,000 before expenses through a placing of 125,000,000 new ordinary shares at an issue price of 0.3p per share.
Baron Oil announced on Wednesday that InfraStrata had repaid the £0.2m drawn down on the secured loan facility provided by Baron.
Infrastrata's shares are down almost 20% on news it intends to raise up to £750,000 at 0.5p a share to repay the Baron Oil loan and begin the first phase of Front-End Engineering Design (FEED) for its Islandmagee gas storage project.
Gas storage company InfraStrata swung to a slight profit as it secured funding from the European Union for its Islandmagee project, while it seeks to gain a further £3m.
Independent gas storage company InfraStrata updated the market on Wednesday, on its working capital position and fundraising activities following its announcement on 4 November.
Independent petroleum exploration and gas storage company InfraStrata reported on Tuesday that its wholly owned subsidiary, InfraStrata UK, has acquired an additional 25% equity stake in Islandmagee Storage (IMSL).
InfraStrata repaid its loan from Baron Oil early but modified the terms of its loan agreement, extending the latter's right to buy into its Islandmagee development in exchange for a cash payment.
Shares in InfraStrata and Baron Oil fell more than 20% after they confirmed the Woodburn Forest-1 well in Northern Ireland would be plugged and abandoned.
InfraStrata has begun drilling the Woodburn Forest-1 well in County Antrim, with Baron Oil owning a 10% interest of Northern Ireland Petroleum Licence PL1/10, in which the well sits.
Independent petroleum exploration and gas storage company InfraStrata made a public statement on the contentious Woodburn Forest project on Friday, promising to progress with its drilling programme as a possible injunction hearing loomed.
Infrastrata, the AIM-listed oil explorer and gas storage company, has agreed several farm-out agreements to fund the drilling of its Woodburn Forest-1 well in Antrim, Northern Ireland.
Infrastrata tumbled after it said one of the companies providing funding for its Woodburn Forst-1 well in Northern Ireland will no longer be participating in the project.
InfraStrata, the petroleum exploration company, announced its unaudited interim results for the six months ended 31 January 2015.
InfraStrata's shares tumbled after saying BP Gas Marketing Limited (BPGM) had decided to relinquish its option to buy a 50 per cent stake in the oil and gas storage company.