Redetermination Update

RNS Announcement

RNS Number : 2411E

Igas Energy PLC

06 July 2021

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

6 July 2021

IGas Energy plc (AIM: IGAS)

("IGas" or "the Company")

Reserves Based Lending (RBL) redetermination completed

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

The redetermination exercise confirms US$27.0 million (£19.5 million) of debt capacity and current headroom of US$8.6 million (£6.2 million). As at 30 June 2021, cash balances stood at US$3.6 million, with net debt of US$18.4 million.

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

Investec Bank plc (NOMAD and Joint Corporate Broker) Tel: +44 (0)20 7597 5970

Sara Hale/Jeremy Ellis/Virginia Bull

Canaccord Genuity (Joint Corporate Broker) Tel: +44 (0)20 7523 8000

Henry Fitzgerald-O'Connor/James Asensio

Vigo Consulting Tel: +44 (0)20 7390 0230

Patrick d'Ancona/Chris McMahon/Kendall Hill

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RNS metadata

Title: Redetermination Update
Time: 07:00:06
Date: 6 Jul 2021
Category: Miscellaneous
ID: 2411E