Monday 13 June 2016

Independent Oil and Gas plc, the development and production focused oil and gas company, is pleased to announce that on 10 June 2016 it signed a Sale and Purchase Agreement with Verus Petroleum Ltd, to conditionally acquire 100% of the shares of Oyster Petroleum Limited a subsidiary of Verus. The acquisition is conditional upon Verus completing the transfer of certain licences into Oyster which have 2C recoverable resources of 320.7 billion cubic feet of gas.

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