12 Dec 2019 07:00
12 December 2019
Independent Oil and Gas plc
Confirmation of Board Appointment
Further to the release of 26 November 2019 announcing his appointment as Chief Financial Officer, 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 confirm the appointment of Rupert Newall to the board of directors of the Company.
The following information regarding the appointment of Rupert Julian Newall (aged 48) is required to be disclosed under Schedule 2(g) of the AIM Rules for Companies:
Current directorships and/or partnerships | Former directorships and/or partnerships (within the last five years) |
Edimis Energy Limited | BMO Capital Markets Limited |
Mr Newall and persons closely associated with him are beneficially interested in a total of 3,542,050 Ordinary Shares in IOG and a total of 1,440,966 options over Ordinary Shares in IOG.
There are no further disclosures to be made under Schedule 2(g) of the AIM Rules for Companies.
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 +44 (0) 20 3879 0510
Andrew Hockey (CEO)
Rupert Newall (CFO)
James Chance (Head of Corporate Finance)
finnCap Ltd +44 (0) 20 7220 0500
Christopher Raggett, Simon Hicks (Corporate Finance)
Camille Gochez (Corporate Broking)
Peel Hunt LLP +44 (0) 20 7418 8900
Richard Crichton
David McKeown
Vigo Communications +44 (0) 20 7390 0230
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 146 MMCF/d (c. 25,000 Boe/d) from gross 2P gas Reserves of 302 BCF¹ + 2C gas Contingent Resources of 108 BCF², 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 BCF² 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