Annual Report and Accounts

Island Oil and Gas PLC
27 January 2006


27 January 2006

                              Island Oil & Gas plc

      Annual Report and Accounts 2005 and Notice of Annual General Meeting


Island Oil & Gas plc announces that the Annual Report and Accounts for the year
ended 31 July 2005 was posted to Shareholders on Friday 27 January 2006. A 
Notice of Annual General Meeting ('AGM') was included within the report.

The AGM will be held at 11.30am at The Conrad Hotel, Earlsfort Terrace, 
Dublin 2 on Wednesday 1 March 2006.

Copies of the Annual Report and Accounts and the Notice of AGM will be 
available, free of charge, from the Company's registered office at: 
27 Fitzwilliam Square, Dublin 2 and from the Company's website at 
http://www.islandoilandgas.com.

Enquiries:

Lisa J Newman
Newman Consulting
Tel: [phone]
Ends.




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