Updated Name and Corporate Materials

RNS Number : 7204U

Independent Oil & Gas PLC

26 November 2019

 

26 November 2019

Independent Oil & Gas plc

Updated Name and Corporate Materials

Independent Oil and Gas plc ("IOG" or the "Company"), the development and production company focused on becoming a substantial UK gas producer, is pleased to announce that it intends to be known henceforth simply as IOG and has today released a new website and corporate presentation.

The new website can be found at www.iog.co.uk and the new corporate presentation is available at http://iog.co.uk/investors/results-reports-and-presentations/.

Andrew Hockey, CEO of IOG, commented:

"We are delighted to release our new website and updated corporate presentation under the simplified brand name of IOG. The new materials reflect the significant progress we have made this year and further articulates our business development strategy which we are pursuing under the refreshed IOG identity."

Enquiries:

Independent Oil and Gas plc                                                  [phone]

Andrew Hockey (CEO)

Rupert Newall (CFO)

James Chance (Head of Corporate Finance & IR)

finnCap Ltd                                                                               [phone]

Christopher Raggett, Simon Hicks (Corporate Finance)

Camille Gochez (Corporate Broking)

Peel Hunt LLP                                                                           [phone]

Richard Crichton

David McKeown

Vigo Communications                                                             [phone]

Patrick d'Ancona

Chris McMahon

Simon Woods

About IOG: 

IOG owns and operates a 50% stake in substantial low risk, high value gas reserves in the UK Southern North Sea. The Company's Core Project targets a gross 2P peak production rate of 140 MMcfe/d (c. 24,000 Boe/d) from gross 2P gas Reserves of 302 Bcfe¹ + 2C gas Contingent Resources of 108 Bcfe², via an efficient hub strategy. In addition to the independently verified 2P reserves at Blythe, Elgood, Southwark, Nailsworth and Elland and 2C Contingent Resources at Goddard, IOG also has independently verified best estimate gross unrisked prospective gas resources of 73 Bcfe² at Goddard and is in the process of updating its management estimate of gas resources at Harvey. Alongside this IOG continues to pursue value accretive acquisitions to generate significant shareholder returns.

¹ERC Equipoise Competent Persons Report: October 2017, adjusted by Management to account for updated project timing and compression

²ERC Equipoise Competent Persons Report: October 2018

 

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