IGas Energy keeps capital options open

IGas Energy, British oil and gas explorer and developer, said it is continuing to discuss a range of options for its capital structure needs.

The options include discussions with Bondholder Trans European Oil & Gas (TEOG) who has proposed a sale of the company’s conventional assets.

The board is discussing with its key stakeholders concurrent with a number of strategic investors as it continues to assess options.

The company’s search for capital is aimed to keep it afloat in the current turbulent oil price environment as well as to enable it to capitalise on value accretive opportunities.

The share price 4.775 to 11.67p at 1208 GMT on Monday.