Conservative party leadership frontrunner Liz Truss has cheered up the UK’s small band of frackers.
At a party hustings event in Cheltenham, Truss said she believed it should be allowed, after the Government banned fracking in 2019 following worrying reports of an earthquake with a magnitude of 2.9 near a shale gas site in Lancashire.
The technique has been widely used in the US, a country with wide open spaces, but in Britain, which is much smaller and more densely populated, fracking has proved far more controversial. Nevertheless, Nevertheless, shares in Igas Energy surged 13.5 per cent, or 8.8p, to 74.2p, while Egdon Resources, leapt 9.9 per cent, or 0.45p, to 5p. Both have fracking licences.
Egdon Resources plc (LON:EDR) is an independent onshore focused oil and gas exploration and production business. An established oil and gas exploration and production business with 41 licences in proven oil and gas producing basins in the UK.