Update on working capital fac

RNS Number : 9751G

Island Oil and Gas PLC

11 February 2010

 

ISLAND OIL & GAS PLC

("ISLAND" or the "COMPANY") 

Update on working capital facility

11 February 2010

The board of Island Oil & Gas Plc is pleased to announce that the working capital facility agreed with San Leon Energy Plc on 23 December, 2009 has been further extended until 26 February 2010.

Discussions between San Leon and Island are continuing and both companies are working towards an agreement on an offer for Island, which the Directors of Island currently intend to recommend.

A further announcement will be made in due course.

Enquiries:

Island Oil & Gas plc	Tel: [phone]
Paul Griffiths
Carl Kindinger
www.islandoilandgas.com
Davy (NOMAD and Broker)	Tel: [phone]
Anthony Farrell
College Hill (Public Relations)	Tel: [phone]
Nick Elwes

The directors of Island accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Company's Directors (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information. 

 

END

 

 

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