Holding(s) in Company

Island Oil and Gas PLC
18 October 2007


                              Island Oil & Gas plc

                               Holding in Company

Island Oil & Gas plc ('Island' or the 'Company') (LSE:IOG) has received a
notification from Gartmore Investment Limited ('Gartmore') dated 17 October 2007
of an increase in its notifiable interest in the Company. The notification
states that, as at 16 October 2007, Gartmore holds, in aggregate, 15,844,567
ordinary shares of €0.01 each in the Company, representing 14.184% of the
111,706,990 shares in issue.



18 October 2007

Enquiries:

Lisa J Newman MCIPR MIRS
Newman Consulting
Tel: [phone]


                      This information is provided by RNS
            The company news service from the London Stock Exchange