Company Overview

IOG is a UK based Development and Production Operator with established interests in eleven UK North Sea Licences

Strategy

IOG will seek out, identify and progress new projects which complement its existing operations with the aim of creating a balanced portfolio of assets that will optimise invested equity and maximise shareholder returns.

Background

IOG was established in February 2011 and owns all of its licence interests 100%.

IOG’s gas portfolio comprises the Blythe, Elgood, Nailsworth, Elland and Southwark gas fields in the Southern North Sea, with 2P reserves justified for development of 303bcf in total and the Harvey appraisal opportunity (Best Estimate Prospective Resources of 114bcf). IOG also owns 100% the Thames Pipeline which it is planning to use to export its gas to the UK gas market. In the recent 30th UKCS Licensing Round IOG was awarded the Goddard and Abbeydale discoveries which management estimates to comprise a further 200bcf of Prospective Resources.

IOG also owns 100% of the Skipper licence south east of the Shetlands (block 9/21a) with 26.2mmbo of 2C resources.

Team

IOG’s Board and technical team bring together outstanding technical, operational and financial expertise with in-depth experience of operating in the North Sea and internationally.

Risk management

IOG’s commitment to risk management extends through every facet of its business; the assets in which it chooses to invest, its partners and throughout its operational activities.

HSE

The safety and well-being of IOG’s personnel and all those influenced by its activities is an absolute priority in all areas of operations.  HSE compliance is a key Company objective and, accordingly, is supervised and managed by the Board.  Please see IOG’s HSE Policy.

Independent Oil & Gas PLC (IOG) is focused on building a significant oil and gas company which will maximise shareholder returns through the enhanced development of hydrocarbon reserves and the acquisition, trading and monetisation of licence interests.

Well test at the York appraisal Well January 2011