Presentation

Independent Oil and Gas plc. is listed on AIM London under the ticker "IOG". IOG owns and operates a 50% stake in substantial low risk, high-value gas reserves in the UK Southern North Sea.

The Company's Core Project targets a gross 2P peak production rate of 140 MMcfe/d (c. 24,000 Boe/d) from gross 2P gas Reserves of 302 Bcfe + 2C gas Contingent Resources of 108 Bcfe, via an efficient hub strategy. In addition to the independently verified 2P reserves at Blythe, Elgood, Southwark, Nailsworth and Elland and 2C Contingent Resources at Goddard, IOG also has independently verified best estimate gross unrisked prospective gas resources of 73 Bcfe at Goddard.

Alongside this, IOG has management estimated mid-case recoverable gas volumes of 21 Bcfe at Harvey. In December 2020, IOG also accepted a 50% operated stake in Licence P2589, containing the Panther and Grafton gas discoveries with management estimated 46 Bcfe and 35 Bcfe respectively. In addition, IOG continues to pursue value accretive acquisitions to help generate significant shareholder returns.

IOG last year saw its field development plan for Core Project Phase 1 in the UK North Sea approved by the UK Oil and Gas Authority.

The company in January said that work on the construction of the two platforms being built for the project was progressing well with delivery scheduled for 1Q 2021.