Shale gas site ‘encouraging’ for Enegi

ENEGI OIL, the Manchester-based oil exploration firm, said early results from its shale gas site in southern Ireland have been “extremely encouraging”.

The business, which is also drilling for oil in Newfoundland, said tests indicate the Irish site – called Clare Basin – has “higher prospectivity than was previously anticipated”.

It has hired the firm Fugro Robertson to conduct a further report which will be submitted to the Irish government by the end of November, in accordance with the terms of the option.

Chief executive Alan Minty said: “The latest results strengthen our belief in the potential of the Clare Basin.  

“We look forward to the results from Fugro, which will not only shape our plans for the area, but also give us an indication of the magnitude of resources that we could potentially book in future.”   

Enegi has also appointed non-exeuctive Derek Cochrane as its chief operating officer.

The firm said he has over 30 years’ experience in the oil and gas sector, mainly working for BP.