31 Jul 2019 16:51
31 July 2019
Independent Oil and Gas plc
PDMR Dealing
Independent Oil and Gas plc ('IOG' or the 'Company) (AIM: IOG.L), the development and production focused oil and gas company, announces that Rupert Newall, a PDMR of the Company, has today transferred 94,911 Ordinary Shares to his wife, Annabel Newall, for nil consideration (the "Transfer').
Following the Transfer, Mr Newall will directly hold 300,000 shares, with no change to his total beneficial holding, including those held by his wife as a person closely associated, of 394,911 shares.
Enquiries:
Independent Oil and Gas plc Andrew Hockey (CEO) James Chance (CFO) | +44 (0) 20 3879 0510 |
finnCap Ltd Christopher Raggett Anthony Adams | +44 (0) 20 7220 0500 |
Peel Hunt LLP Richard Crichton David McKeown | +44 (0) 20 7418 8900 |
Vigo Communications Patrick d'Ancona | +44 (0) 20 7390 0230 |
Notes -
About Independent Oil and Gas:
IOG owns substantial low risk, high value gas reserves in the UK Southern North Sea. The Company is targeting a 2P peak production rate of 114 MMCF/d (c. 20,000 Boe/d) from its substantial Core Project (2P gas Reserves of 302 BCF) via an efficient hub strategy. In addition to the independently verified 2P reserves, IOG now has independently verified 2C contingent gas resources of 108 BCF in Goddard and best estimate unrisked prospective gas resources of 202 BCF in Harvey and Goddard. Alongside this IOG continues to pursue value accretive acquisitions to generate significant shareholder returns. All IOG's licences and the Thames Pipeline are owned 100% and operated by IOG.
Further information can be found on www.independentoilandgas.com
1. | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) | Name | Rupert Newall | |
2. | Reason for the notification | ||
(a) | Position/status | Head of Corporate Finance (PDMR) | |
(b) | Initial notification/ Amendment | Initial notification | |
3. | Details of the issuer | ||
(a) | Name | Independent Oil and Gas plc | |
(b) | LEI | 2138005OA2NLZS2NRT74 | |
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
(a) | Description of the Financial Instrument | Independent Oil & Gas plc Ordinary Shares of 1p each | |
(b) | Identification code of the Financial Instrument | ISIN: GB00BF49WF64 | |
(c) | Nature of the transaction | Transfer of shares to spouse | |
(d) | Price(s) and volume(s) | Price(s) | Volume(s) |
0p | 94,911 | ||
(e) | Aggregated information - Aggregated volume - Price |
n/a | |
(f) | Date of the transaction | 31 July 2019 | |
(g) | Place of the transaction | Outside a trading venue | |
1. | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) | Name | Annabel Newall | |
2. | Reason for the notification | ||
(a) | Position/status | Person closely associated with Rupert Newall, Head of Corporate Finance (PDMR) | |
(b) | Initial notification/ Amendment | Initial notification | |
3. | Details of the issuer | ||
(a) | Name | Independent Oil and Gas plc | |
(b) | LEI | 2138005OA2NLZS2NRT74 | |
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
(a) | Description of the Financial Instrument | Independent Oil & Gas plc Ordinary Shares of 1p each | |
(b) | Identification code of the Financial Instrument | ISIN: GB00BF49WF64 | |
(c) | Nature of the transaction | Transfer of shares to spouse | |
(d) | Price(s) and volume(s) | Price(s) | Volume(s) |
0p | 94,911 | ||
(e) | Aggregated information - Aggregated volume - Price |
n/a | |
(f) | Date of the transaction | 31 July 2019 | |
(g) | Place of the transaction | Outside a trading venue | |