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Issue of Equity 26 July 2019

Independent Oil and Gas plc (‘IOG’ or the ‘Company) (AIM: IOG.L), the development and production focused oil and gas company, has today issued a total of 1,077,905 ordinary shares of 1 penny each (‘Ordinary Shares’) in the capital of the Company.

On 24 July 2019, a notice was submitted by a former officer of the Company, to exercise his remaining 1,077,905 1p options over Ordinary Shares awarded to the former officer, pursuant to a ‘salary sacrifice’ share option agreement dated 1 March 2019 and confirming the awards of:
Date of grant Number of options
31 August 2016 365,550
01 March 2017 298,628
31 August 2017 147,507
01 March 2018 112,791
31 August 2018 110,553
01 March 2019 42,876
Total 1,077,905
The Company has applied to the London Stock Exchange for admission of the New Ordinary Shares to trade on AIM (‘Admission’). Admission is expected to occur on Thursday 1 August 2019. Following Admission, there will be 340,681,790 Ordinary Shares in issue with one voting right per Ordinary Share. Accordingly, this number may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA’s Disclosure and Transparency Rules.


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.

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