Holding(s) in Company

Island Oil and Gas PLC
25 September 2007




                              Island Oil & Gas plc

                               Holdings in Company


Island Oil & Gas plc ('Island' or the 'Company') (LSE:IOG) has received a
notification from Gartmore Investment Limited ('Gartmore') dated 5 September
2007 of an increase in its notifiable interest in the Company. The notification
states that, as at 4 September 2007, Gartmore holds, in aggregate, 14,559,567
ordinary shares of €0.01 each in the Company, representing approximately 13.034%
of the 111,706,990 shares in issue.

25 September 2007

Enquiries:

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




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