Friday 6 November 2020

Independent Oil and Gas plc ("IOG" or "the Company"), (AIM: IOG.L), the UK gas company targeting high returns via an infrastructure-led hub strategy, is pleased to update on the substantial progress in the year since Final Investment Decision (FID) on Phase 1 of its Core Project in the UK Southern North Sea (SNS).

Highlights

- Team significantly strengthened in 2020 to deliver successive phases of growth

- Phase 1 development on schedule for First Gas in Q3 2021

- Blythe and Elgood pipelay campaign ongoing, expected to complete later this month

- Rig signed on attractive terms with extension options, with first well to spud in Q1 2021

- Platform fabrication and Thames Reception refurbishment works continue to progress

- Programme of 1200km² SNS 3D seismic reprocessing nearing completion

- JV partnership continuing to function effectively

- Adapting to increased Covid-19 restrictions while seeking to minimise disruption

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