Holding(s) in Company

Island Oil and Gas PLC
07 April 2008



Island Oil & Gas plc
('Island' or the 'Company')


Shareholder Notification

Island Oil & Gas plc ('Island' or the 'Company') received a notification dated 7
April 2008 from Davy of a decrease in its notifiable interest in its holding in
the Company.  The notification states that Davycrest Nominees Limited and Davy
Nominees Limited is the beneficial holder of 5,815,776 ordinary shares of €0.01
each in the Company, representing approximately 4.99% of the 116,556,990 shares
in issue.

                                                                  7th April 2008


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