Brochure of Particulars

17 Jun 2005 16:00

Island Oil and Gas PLC17 June 2005 BROCHURE OF PARTICULARS Island Oil & Gas plc ("Island" or "the Company") Further to the announcement made by the Company on 10 June 2005, application has been made to the London Stock Exchange for 4,000,000 Ordinary Shares of nominal value €0.01 each in the capital of the Company to be listed on the AIM Market of the London Stock Exchange with effect from Monday 20 June 2005. These Ordinary Shares, representing approximately 8.45% of the enlarged sharecapital of the Company, have been allotted pursuant to the completion of thetransaction with Lundin Petroleum AB which was announced on 10 June 2005. Underthe terms of the transaction, these shares may not be sold or transferred,except to an affiliate, within 12 months from the completion of the transaction.These shares rank pari passu in all other respects with the existing OrdinaryShares of the Company. For further details contact; Lisa J Newman MCIPR MIRS Tel: +44 (0)1252 878682Newman Consulting Email: newmanconsulting@hotmail.com 17 June 2005 Ends. This information is provided by RNS The company news service from the London Stock Exchange