IOG PLC - London-based gas and infrastructure operator with projects in the North Sea - Announces first gas from the Elgood field at its Saturn Banks project. This follows first gas from the Blythe well announced on Monday. Will assess initial flow rates once stable production is established at both sites. Annual production guidance will follow in some months as it analyses resevoir performance data.
"Developing further UK gas resources is the right thing to do both from an environmental and energy security perspective. We are encouraged by the recent government discussions with industry and ministerial comments on supporting further investment in domestic gas supply, which is exactly what IOG stands for," says Chief Executive Officer Andrew Hockney.
Current stock price: 41.20 pence, down 4.2% on Wednesday
12-month change: up 135%
By Elizabeth Winter; elizabethwinter@alliancenews.com
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