THE DOWNHILL SLALOM GOLD MEDAL FOR COLLAPSING FRACKING SHARES PRICES
Goes to
IGas Energy plc
Ladies and gentlemen, just over a month ago fracking company IGas saw its share price collapse from 160 points in January to 56 points on 17th November. This week the share price has plummeted so far down that you'd need a bore hole and drill to find it. The IGas share price this morning is down to 32.5, while the official graph charting the wickedly steep fall would scare even the bravest Alpine ski champ...and Eddie The Eagle too!
The low price of oil hasn't helped, neither has the scandal surrounding IGas Chief Exec Andrew Austin, who has taken out a personal loan with Equities First Holdings, transferring a total of 7.5 million shares to the company, receiving £7,009,533, the equivalent of 93.46p per share, which are now only worth 32.5p (see previous article and comments for more info click here and check the share price here).
Last month IGas produced a report confirming that it tested for shale gas at Barton Moss last winter and that the results were "encouraging in respect of the shale potential of the area". The company also confirmed that it will "submit applications for multi-well sites for drilling and hydraulic fracturing of gas from shale in 2015". If the share price falls any lower, IGas might not be fracking in Salford or anywhere else.
So ladies and gentlemen, frack your fondues and give an avalanche of applause for the winner of the Salford Star Mary Burns Downhill Slalom Gold Medal For Collapsing Fracking Share Prices...
IGas En-e-e-e-rgy!
If anyone from IGas would like to make an acceptance speech please use the comments box below...
The eighth annual Salford Star Mary Burns Awards ceremony will run throughout the festive season
The 2014 Salford Star Mary Burns Awards...
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The Palm d'Or Award Hazel Blears click here
The Salford Red Devils `Paperwork Error' Award Salford City Mayor, Ian Stewart click here
The One Rule For The Mayor And One For Everyone Else Award Salford City Mayor Ian Stewart click here
The Disgraceful Disgusting Urban Splash Award Urban Splash click here