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Issue of New Shares Nov 16

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 2,755,029 ordinary shares (“New Ordinary Shares”) in the capital of the Company.

On 1st November 2016, GE Oil & Gas UK Ltd. submitted a notice to exercise 2,525,000 11.9p warrants over Ordinary Shares awarded to it, pursuant to a warrant deed and a warrant certificate both dated 4th December 2015.

Furthermore, 230,029 Ordinary Shares have been issued at a price of 1p per Share to another contractor pursuant to the exercise of options granted in consideration for services provided prior to admission of the Company’s Ordinary Shares to trading on AIM in 2013.

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 8th November 2016.  Following Admission there will be 105,445,101 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.
 
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.