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Issue of Equity and Rule 2.9 Announcement

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 612,856 ordinary shares of 1 pence each ("˜Ordinary Shares') in the capital of the Company.

On 21 March 2019, a notice was submitted by a former officer and employee of the Company, to exercise 612,856 1p options over Ordinary Shares awarded to him, pursuant to share option agreements dated 1 March 2015, 31 August 2015, 1 March 2016 and 31 August 2016.

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 28 March 2019.  In accordance with Rule 2.9 of the City Code on Takeovers and Mergers (the "Code"), the Company confirms that, following Admission, there will be 127,481,012 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.

The International Securities Identification Number (ISIN) of IOG's Ordinary Shares is GB00BF49WF64 and the LEI number is 2138005OA2NLZS2NRT74.
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
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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