Holding(s) in Company

Island Oil and Gas PLC
19 December 2005




                             Island Oil and Gas plc

                               Holding in Company

Island Oil and Gas plc ('Island' or the 'Company') has today received
notification dated 12 December 2005 from Cantor Fitzgerald Europe of a
notifiable interest in its holding in the Company. The notification states that
as at 9 December 2005, Cantor Fitzgerald is the registered holder of 2,762,572
ordinary shares of €0.01 each in Island. This holding represents approximately
4.666 per cent of the 59,204,000 shares in issue.


19 December 2005

Enquiries:

Lisa J Newman
Newman Consulting
Tel: [phone]




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