15 Dec 2017
Issue of New SharesIndependent 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 42,835 ordinary shares (‘New Ordinary Shares’) in the capital of the Company.
On 2 November 2017, a notice was submitted by a former contractor to exercise 42,835 1p options over Ordinary Shares awarded to him, pursuant to a share option agreement dated 1 September 2017.
The Company has applied to the London Stock Exchange for admission of the New Ordinary Shares to trading on AIM (‘Admission’). Admission is expected to occur on 20 December 2017. Following Admission there will be 109,730,369 Ordinary Shares in issue. 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.
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 in excess of 200 MMcfd (c. 35,000 Boe/d) from its substantial current portfolio via an efficient hub strategy. Alongside this it continues to pursue value accretive acquisitions, to generate significant shareholder returns. All IOG's Licences are owned 100% and operated by IOG.
Further information can be found on www.independentoilandgas.com