Salford Star: IGAS share price tanks as Trafford Council rejects fracking
Fracking company IGas, which is determined to plough on with shale gas exploration in Salford, has seen its share price collapse from a high of 160 points in January to just 56 this morning.
Meanwhile, last week, Trafford Council voted to ban fracking `until proven safe', and all court cases regarding the Barton Moss protests have been postponed until the New Year pending investigations of the IGas site, the Salford Star understand.
Earlier this month, fracking company IGas produced a report confirming that as well as searching for Coal Bed Methane as part of its exploratory drilling programme at Barton Moss last winter it was also testing for shale deposits – and that the results were "encouraging in respect of the shale potential of the area".