IOG.L Regulatory News (IOG)

29 Jan 2010 16:00



ISLAND OIL & GAS PLC

("ISLAND" or the "COMPANY") 

Update on working capital facility

29 January 2010

The board of Island Oil & Gas Plc is pleased to announce that the working capital facility agreed with San Leon Energy Plc on 23 December, 2009 has been extended until 10 February 2010. This is to allow for the resolution of a due diligence issue relating to a third party transaction which is expected to be resolved shortly.

A further announcement will be made in due course.

Enquiries:

The directors of Island accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Company's Directors (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.