23 Sep 2013
Subscription and Admission to AIM
The Board of Independent Oil and Gas plc (“IOG”), the North Sea focused Oil and Gas Company, is pleased to announce that it has raised £2 million conditional upon AIM admission. The first day of dealings is expected to be Monday 30th September 2013, under the ticker IOG.L.
We are delighted to be joining AIM, which we believe will provide IOG with the best platform from which to grow into a significant development and production focused company. We are also pleased to have completed the fund-raising which will provide us with essential working capital. We will provide further updates once the sale of our operating partner has concluded and the work programmes and timings on the Blythe and Skipper discoveries have been confirmed.
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.