---
title: "Igas Energy PLC (AIM:IGAS) RBL Redetermination Completed & Notice of Results"
publisher: "Share Talk"
author: "sharetalk"
published: "2022-08-02T06:48:30+00:00"
modified: "2022-08-02T06:55:58+00:00"
date: 2022-08-02
canonical: "https://www.share-talk.com/igas-energy-plc-aimigas-rbl-redetermination-completed-notice-of-results/"
category: "Energy"
categories: ["Energy"]
tags: ["appraisal", "canada", "Clearwater", "Discovery", "drilling", "Farm-Out", "Gain Energy", "gas", "Graham Heath", "i3 Energy", "i3 Energy Canada Ltd", "I3E", "Lower Montney", "Majid Shafiq", "Marten Hills", "oil", "Petroleum", "production", "Ryan Heath", "Serenity", "Share Talk", "Toronto Stock Exchange", "Toscana", "TSX", "UK"]
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format: "news"
language: "en-GB"
---

# Igas Energy PLC (AIM:IGAS) RBL Redetermination Completed & Notice of Results

**Published:** August 2, 2022
**Author:** sharetalk
**Categories:** Energy
**Tags:** appraisal, canada, Clearwater, Discovery, drilling, Farm-Out, Gain Energy, gas, Graham Heath, i3 Energy, i3 Energy Canada Ltd, I3E, Lower Montney, Majid Shafiq, Marten Hills, oil, Petroleum, production, Ryan Heath, Serenity, Share Talk, Toronto Stock Exchange, Toscana, TSX, UK
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1)

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**IGas** is pleased to confirm it has completed its scheduled six-monthly RBL facility redetermination process.

The redetermination exercise confirms $22 million (£18.1 million) of debt capacity.

Cash balances as at 29 July 2022, were £2.4 million with net debt of £8.2 million.

A total of 95,000 bbls are currently hedged in 2022 using swaps at an average price of $77/bbl and 55,000 bbls using puts with an average guaranteed minimum price, net of premiums, of $44/bbl. We have also hedged 60,000 bbls for H1 2023 using swaps at an average price of $95/bbl.

**Commenting, CEO Stephen Bowler, said**

” Higher commodity prices continue to drive strong operating cash flow generation giving us financial flexibility. Since year-end, we have repaid c.£4 million of debt .”

In addition, IGas expects to announce its results for the six months to 30 June 2022 on 15 September 2022.

For further information please contact:

**IGas Energy plc Tel: +44 (0)20 7993 9899**

**Stephen Bowler, Chief Executive Officer**

**Ann-marie Wilkinson, Director of Corporate Affairs**

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