Independent Oil & Gas PLC Issue of Equity (7501I)
15 Dicembre 2020 - 03:25PM
UK Regulatory
TIDMIOG
RNS Number : 7501I
Independent Oil & Gas PLC
15 December 2020
15 December 2020
Independent Oil and Gas plc
Issue of New Shares
Independent Oil and Gas plc ("IOG" or "the Company"), (AIM:
IOG.L), the development and production company focused on becoming
a substantial UK gas producer, has today issued a total of 34,103
ordinary shares of 1 penny each in the capital of the Company
("Ordinary Shares"), following the exercise by an IOG employee of
the same number of options pursuant to a Salary Sacrifice Share
Option agreement dated 6 October 2020. (the "Exercise").
The Company has applied to the London Stock Exchange for
admission of 34,103 new Ordinary Shares to trading on AIM
("Admission"). Admission is expected to occur on 21 December 2020.
Following Admission there will be 488,211,155 Ordinary Shares in
issue. Accordingly, this number may be used by shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in the Company under the FCA's Disclosure Guidance and
Transparency Rules.
Certain information communicated in this announcement was, prior
to its publication, inside information for the purposes of Article
7 of Regulation 596/2014.
Enquiries:
Independent Oil and Gas plc
Andrew Hockey (CEO)
Rupert Newall (CFO)
James Chance (Head of Corporate Finance & IR) +44 (0) 20 7036 1400
finnCap Ltd
Christopher Raggett
Simon Hicks +44 (0) 20 7220 0500
Peel Hunt LLP
Richard Crichton
David McKeown +44 (0) 20 7418 8900
Vigo Communications
Patrick d'Ancona
Chris McMahon
Simon Woods +44 (0) 20 7390 0230
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 Bcfe(1) + 2C gas
Contingent Resources of 108 Bcfe(2), 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 Bcfe(2) at
Goddard. Alongside this IOG has management estimated mid-case
recoverable gas volumes of 21 Bcfe at Harvey. In December 2020 IOG
also accepted a 50% operated stake in Licence P2589, containing the
Panther and Grafton gas discoveries with management estimated 46
Bcfe and 35 Bcfe respectively. In addition IOG continues to pursue
value accretive acquisitions to help generate significant
shareholder returns.
(1) ERC Equipoise Competent Persons Report: October 2017,
adjusted by Management to account for updated project timing and
compression
(2) ERC Equipoise Competent Persons Report: October 2018
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END
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