It is not spend on Igas. They could easily get their own acreage...

It is not spend on Igas.
They could easily get their own acreage so far, and will get more in the licensing round.

If anything, it shows a lot of capital is necessary for growing the shale potential. The mistake of the Igas business model, is that it is focussing on acreage building. To get it developed should be the first focus. Cuadrilla are far better positioned in that regard.

Still, current SP of Igas is low. And I really think today is only a spike. It may go down again. Maybe even in the low 40's. An excellent buying opportunity.

People seem to forget that Igas will have a lot of trouble keeping their core business afloat at $75 oil. Previously they were struggling to get a profit at $100. The low oil price must be a real set back for them.