IOG.L Regulatory News (IOG)

22 Jun 2007 07:00

Island Oil and Gas PLC22 June 2007 22 June 2007 Island Oil & Gas plc Drilling Update Island Oil & Gas plc ("Island" or the "Company") today reports that the 49/23-2zsidetrack well (the "sidetrack") on Exploration Licence 4/05 (the "Old Head ofKinsale") in the Celtic Sea, offshore Ireland has reached target depth at 5,140feet measured depth (drillers total depth 4,386 feet as true vertical depthbrt). Island has completed logging operations, and, based on the results, is nowpreparing to test the well. A further announcement will be issued uponcompletion of testing operations. Enquiries: Lisa J Newman MCIPR MIRSNewman ConsultingTel: +44 (0)1252 878682 Paul GriffithsChief ExecutiveIsland Oil & Gas plcTel: +353 1 631 3755 Notes to Editors: This drilling update has been reviewed and approved by Paul Griffiths, ChiefExecutive of Island. Paul Griffiths is a geology graduate of the Royal Schoolof Mines, Imperial College London, and is a member of the Petroleum ExplorationSociety of Great Britain. He has 30 years experience in the oil and gasexploration sector and is a qualified person as defined in the guidance note forMining Oil & Gas Companies, March 2006 of the London Stock Exchange. Further information on Island can be found on the Company's website at http://www.islandoilandgas.com. This information is provided by RNS The company news service from the London Stock Exchange