Description
Irvine Energy plc is an AIM listed company (Epic: IVE) focussed on the development of onshore conventional and unconventional oil and gas projects in the USA. The Company currently has exploration and production projects in Kansas and Oklahoma, which it is operating and developing in conjunction with its joint venture partner Metro Energy Group It is the Company's objective to become a significant player in both the conventional and unconventional USA oil and gas markets, by building a solid portfolio of assets within the highly prospective Kansas/Oklahoma region. Irvine has an aggressive growth strategy in place with a work programme to advance its production projects and upgrade its P3 resources to P1 status. The Board believes that by assembling a combination of conventional and unconventional plays, it provides the Company with a balanced low risk, high capital efficient development programme.
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Company Statement:
Irvine Energy plc is an AIM listed company (Epic: IVE) focussed on the development of onshore conventional and unconventional oil and gas projects in the USA. The Company currently has exploration and production projects in Kansas and Oklahoma, which it is operating and developing in conjunction with its joint venture partner Metro Energy Group ("Metro").
It is the Company's objective to become a significant player in both the conventional and unconventional USA oil and gas markets, by building a solid portfolio of assets within the highly prospective Kansas/Oklahoma region. Irvine has an aggressive growth strategy in place with a work programme to advance its production projects and upgrade its P3 resources to P1 status. The Board believes that by assembling a combination of conventional and unconventional plays, it provides the Company with a balanced low risk, high capital efficient development programme.

To date, the Company has acquired over 168,000 gross acres and 112,000 net acres across the highly productive mid-continent areas of the United States in Kansas and Oklahoma. Historical production dates back to the late 1800's, with cumulative production in Kansas of 6.2 billion barrels of oil and 37 trillion cubic feet of gas. The historical production from Oklahoma tops 14.7 billion barrels of oil and 94 trillion cubic feet of gas.
Current Operations:
There are three project areas within the Company's portfolio, including; 1) Niobrara, 2) Kansas and 3) Oklahoma. The Company holds a 50% working interest in the Niobrara and Oklahoma projects, and a 75% working interest in the Kansas project. Metro Energy Group holds the remaining working interest. Metro Energy is located in Tulsa, Oklahoma and is also the operator of all projects.

The Niobrara project covers 4,490 gross acres (2245 net acres) in Cheyenne County, Kansas and is primarily focussed on the development of shallow Niobrara chalk gas. The license area includes 20 drilled well bores in the Niobrara formation with over half of the wells going to sales as of April 2008. The remaining wells will be on line in May 2008; with total projected production from the 20 wells at 1,000 mcfd. It is estimated that 40 additional drill wells will be completed by year end 2009, with an additional 56 wells to be drilled in following years. Due to the shallow nature of these wells (1500 ft) they can be drilled and completed in less than one week at very low cost.
The Kansas project covers over 112,000 gross acres (84,000 net acres) in eleven counties in south central Kansas. The majority of the acreage is in the oil rich areas of Barber, Butler and Cowley counties. The area has a prolific oil and gas production history and many operating advantages, including extensive infrastructure and low cost drilling. The area has lacked the application of state-of-the-art exploration techniques, which provides significant upside potential. The Company has shot state of the art 3D seismic in two areas of Kansas (Rock and Ayres), with two more surveys in progress. The Rock 3D survey has generated several prospects, where a four well drilling programme has been initiated. The initial well, the Rock 1-5, was spudded April 29, 2008 and is targeting oil production from the Arbuckle formation at 3500 feet. A rig has been contracted for a continuous drilling programme across the Rock 3D and then on to the Ayres 3D.
Importantly, the Kansas project also houses the highly prospective Chattanooga Shale formation, which has been successfully drilled across state lines in Oklahoma (where it is known as Woodford shale). With a land position of over 112,000 acres, Irvine has first mover-advantage in an area that has significant development potential. Shale gas, due to the development of new extraction techniques, is the USA's fastest growing onshore energy sector.
The Oklahoma project covers over 50,000 gross acres (25,000 net acres) in Okfuskee, Okmulgee, and McIntosh and Hughes counties. This project has significant potential in conventional oil and gas, as well as Woodford and Caney shale gas and coal bed methane (CBM). The Company purchased this property in January 2008, which included over 20 producing wellbores and fifty-four square miles of 3D seismic. Production net to the Company at time of purchase was over 600 MCFDE. Since then, four additional conventional gas wells have been drilled.
Currently the Company is stepping up activity in the Caney and Woodford shale, with their first vertical new well currently being completed. The Company's first horizontal well is planned to spud in May 2008. A large drilling inventory is also being developed for both the Caney and Woodford shale. Successful development of the Caney and Woodford shale could be huge, with as many as 400 - 800 locations possible. Netherland, Sewell and Associates have assigned a best case contingent resource estimate net recoverable to the Company of 238 billion cubic feet (BCF) of gas.
Current plans also include drilling and completing both vertical and horizontal Hartshorne coal bed methane (CBM) wells in Q3 2008. Assessment of the CBM resource and value is in progress.
CLICK HERE TO SEE IRVINE ENERGY'S PROJECTS IN FULL DETAIL
Shale Gas
Shale gas is the fastest growing energy sector in onshore USA. The relatively recent focus on shale gas development goes back 20 years, and is highlighted by the technical understanding gained, and success achieved, in the Barnett shale in Fort Worth Basin, Texas. The Barnett is now the largest producing gas field in the USA. (Read More)

Management
Senior Management
Doug Manner (Executive Chairman)
Non - Exec Directors
Michael Frayne (Non-Executive)
Anthony John Samaha (Non-Executive)
Ross Warner (Non-Executive Director)
Technical Consultants
Charles Bingle (Technical & Operations Manager)
CLICK HERE FOR MORE DETAIL
Major Shareholders
As of 22nd August 2008 the following were registered as being interested in 3% or more of the Company's ordinary share capital:
| T. HOARE NOMINEES LIMITED | 83,711,904 | 10.55% |
| PERSHING NOMINEES LIMITED | 44,743,570 | 5.64% |
| OMX SECURITIES NOMINEES LIMITED | 40,560,500 | 5.11% |
| CITY EQUITIES (NOMINEES) LIMITED | 40,000,000 | 5.04% |
| BARCLAYSHARE NOMINEES LIMITED | 31,439,422 | 3.96% |
| TD WATERHOUSE NOMINEES (EUROPE) LIMITED | 30,904,592 | 3.89% |
| NUTRACO NOMINEES LIMITED | 25,000,000 | 3.15% |
Contact Information
UK Offices:
Irvine Energy plc
94 Jermyn Street
London
SW1Y 6JE
United Kingdom
Tel: +44 (0)20 7766 7500
Fax: +44 (0)20 7766 7503
Email: kate.thompson@irvineenergy.com
USA Offices:
Irvine Energy plc
1400 Broadfield Blvd
Suite 325
Houston
TX 77084
Tel: +1 281-647-7770
Fax: +1 281-647-7773
Email: doug.manner@irvineenergy.com
Corporate Information
Company Secretary and Registered Address:
John Bottomley
One America Square,
Crosswall,
London
EC3N 2SG
Nominated Advisor and Broker:
Evolution Securities
100 Wood Street,
London
EC2V 7AN

