IOG.L Regulatory News (IOG)

1 Apr 2008 07:00

Island Oil and Gas PLC01 April 2008 ISLAND OIL & GAS PLC ISLAND OIL & GAS PLC EXTENDS RECONNAISSANCE CONTRACT IN MOROCCO Island Oil & Gas plc, (LSE:IOG) ("Island" or the "Company"), today announcesthat San Leon (Morocco) Ltd, the Operator, has been granted a 12 month extension(the 'Extension') to the Exclusive Reconnaissance Licence (the "Licence") in theZag Basin onshore Morocco, by the Office National des Hydrocarbures et des Mines("ONHYM"). The extension is effective from 24 December 2007. The work programme that has been committed to comprises geological andgeophysical studies and the acquisition, processing and interpretation ofaeromagnetic data. The joint venture partners in the Licence are San Leon (Morocco) Limited (50%),the designated operator; GB Oil and Gas Ventures Limited.(30%) and Island Oil &Gas plc (20%). 1 April 2008 Further information: Davy (NOMAD and broker)Anthony Farrell Tel: +353 1 679 6363 Landsbanki (UK broker)Simon Robinson Tel: +44 (0)207 426 9000 College Hill (Financial PR)Paddy Blewer Tel: +44 (0)20 7457 2020Nick Elwes This information is provided by RNS The company news service from the London Stock Exchange