Appointment of new NED

RNS Number : 0564C

Independent Oil & Gas PLC

12 March 2014

 

Independent Oil and Gas plc

Announcement of New Non-Executive Director

Independent Oil and Gas plc ("IOG"), (AIM:IOG.L), the North Sea focused Oil and Gas Company, is pleased to announce that Paul Murray is joining the board, effective immediately.

Paul began his career as a Petroleum Engineer with Mobil North Sea and joined Lasmo Plc in 1988 where he worked in a variety of commercial roles before becoming Group Finance Director in 1998 until the sale of the company to ENI in 2001.  

Paul now has a portfolio of non-executive directorships, both quoted and private - and currently serves as Audit Committee Chairman at Royal Mail Group PLC and at Qinetiq PLC  He is a founding shareholder of IOG.

Paul Murray, Non-Executive Director of IOG said:

"I have been keen to return to the oil and gas industry for some time and the board and executive team of IOG have convinced me that their ambition to grow into a significant development and production company is eminently achievable. I believe my experience in helping LASMO Plc grow into a FTSE 100 company along with more recent roles as a corporate advisor will be invaluable to IOG during this exciting phase in the Company's development."

Mark Routh, CEO of IOG said:

"We have wanted Paul to join the board for some time and we are delighted that IOG has now made sufficient progress to attract him to do so. We all share the same ambition to grow IOG into a significant profitable company and look forward to working with Paul along with the rest of the team to take IOG to the next level."

-ENDS-

Notes

Paul Murray owns 769,602 shares, equivalent to 1.29% in Independent Oil and Gas since it was formed in 2011.

Paul is director of the following companies:

·     Royal Mail Group PLC: Independent Non-Executive Director

·     Qinetiq PLC: Independent Non-Executive Director

·     Pilotlight (charity): Treasurer and Trustee

·     Naked Energy Ltd (private) : Non-Executive Director

·     Ventive Ltd : (private) : Non-Executive Director

Enquiries:

Independent Oil and Gas plc:
Mark Routh (CEO) Peter Young (CFO)		[phone]
Charles Stanley Securities: (Nominated Adviser) Philip Davies		[phone]
Bell Pottinger:
Philip Dennis	[e-mail]	[phone]
Jimmy Lea	[e-mail]	[phone]

About Independent Oil and Gas:

IOG is an oil and 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. 

Post completion of the recently announced Cronx acquisition IOG will have five licences in the North Sea:  The Blythe and Skipper licences are co-owned 50% with Alpha Petroleum Resources (formerly ATP Oil and Gas UK Ltd).  IOG has a 100% working interest in two other licences awarded in the 27th licencing round.  One is to the west of and adjacent to Skipper, which contains the Theakston and Moorhouse prospects and the other is to the east of Blythe containing the Truman prospect and Harvey discovery.  Both these 100% owned licences have potential resources that could be tied back to developments at Skipper and Blythe respectively.  The Blythe owners are targeting the Blythe Field Development Plan submission for 3Q 2014.

Further information can be found on www.independentoilandgas.com.

 

END

 

 

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