EGM Statement

9 Jun 2006 12:01

Island Oil and Gas PLC09 June 2006 9 June 2006 ISLAND OIL & GAS PLC EXTRAORDINARY GENERAL MEETING Further to the announcement by Island Oil & Gas plc ("Island" or the "Company")on 16 May regarding a strategic investment in Island by Platinum Petroleum Ltd("Platinum") of up to Stg£21 million, Island has today held an ExtraordinaryGeneral Meeting ("EGM") at the Conrad Hotel Earlsfort Terrace, Dublin at11.30am. The EGM was held to gain the approval of independent shareholders of the grantof a waiver under Rule 9 of the Irish Takeover Rules ("the Waiver"). The IrishTakeover Panel had granted the Waiver, subject to the approval of independentshareholders, removing any obligation from Platinum to make a general offer toall shareholders that otherwise might arise as a result of Platinum's proposedinvestment in Island. The resolution was unanimously passed. Enquiries: Lisa J Newman MCIPR MIRSNewman Consulting Tel: +44 (0)1252 878682 This information is provided by RNS The company news service from the London Stock Exchange