03 Mar 2014
18 Month Extension of Blythe and Skipper LicencesFurther to the update of 7th February 2014, the Board of Independent Oil and Gas plc (“IOG”) (AIM:IOG.L), the North Sea focused Oil and Gas Company, is pleased to confirm that the Blythe and Skipper licences have been extended by 18 months to 31st September 2015.
Alpha Petroleum Resources Ltd operates the Blythe and Skipper licences in which IOG has a 50% interest.
Mark Routh, CEO of IOG said:
Removing all uncertainty relating to expiry of these licences is an expected but still significant step for IOG. We look forward to updating the market on our progress with these and our other assets in due course.
About Independent Oil & Gas:
IOG is an oil & gas company with established assets focused on the UK North Sea. The company’s strategy is to deliver near term development and production assets in North West Europe, through its extensive technical and commercial expertise, whilst maintaining some exposure to exploration upside. The Company is looking to grow both organically and through acquisition.
IOG has four licences in the North Sea: In addition to the Blythe and Skipper licences co-owned 50% with ATP UK, IOG has a 100% working interest in two licences awarded in the 27th licencing round. One is to the west of and adjacent to Skipper, the other is to the east of Blythe. Both these licences have potential resources that could be tied back to developments at Skipper and Blythe respectively.