TIDMIOG

RNS Number : 6880B

Independent Oil & Gas PLC

10 June 2019

10 June 2019

Independent Oil and Gas plc

Issue of Equity

Independent Oil and Gas plc ('IOG' or the 'Company) (AIM: IOG.L), the development and production focused oil and gas company, has today issued a total of 218,672 ordinary shares of 1 penny each ('Ordinary Shares') in the capital of the Company.

On 7 June 2019, a notice was submitted by a former officer of the Company, to exercise 218,672 penny options over Ordinary Shares awarded to the former officer, pursuant to a 'salary sacrifice' share option agreement dated 1 March 2019 and confirming the award dated 19 November 2014.

The Company has applied to the London Stock Exchange for admission of the New Ordinary Shares to trade on AIM ('Admission'). Admission is expected to occur on Friday 14 June 2019. Following Admission, there will be 337,465,429 Ordinary Shares in issue with one voting right per Ordinary Share. Accordingly, this number may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.

Enquiries:

 
 Independent Oil and Gas plc 
  Andrew Hockey (CEO) 
  James Chance (CFO)            +44 (0) 20 3879 0510 
 finnCap Ltd 
  Christopher Raggett 
  Anthony Adams                 +44 (0) 20 7220 0500 
 Peel Hunt LLP 
  Richard Crichton 
  David McKeown                 +44 (0) 20 7418 8900 
 Vigo Communications 
  Patrick d'Ancona              +44 (0) 20 7390 0230

Notes -

About Independent Oil and Gas:

IOG owns substantial low risk, high value gas reserves in the UK Southern North Sea. The Company is targeting a 2P peak production rate of 114 MMCF/d (c. 20,000 Boe/d) from its substantial Core Project (2P gas Reserves of 302 BCF) via an efficient hub strategy. In addition to the independently verified 2P reserves, IOG now has independently verified 2C contingent gas resources of 108 BCF in Goddard and best estimate unrisked prospective gas resources of 202 BCF in Harvey and Goddard. Alongside this IOG continues to pursue value accretive acquisitions to generate significant shareholder returns. All IOG's licences and the Thames Pipeline are owned 100% and operated by IOG.

Further information can be found on www.independentoilandgas.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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June 10, 2019 06:23 ET (10:23 GMT)

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