Proactive Investors - Run By Investors For Investors

Independent Oil & Gas take share options in lieu of pay

In all, Independent has issued options over 628,496 shares that can be exercised at 1p
Independent Oil & Gas take share options in lieu of pay
The company owns assets in the North Sea

The management of Independent Oil & Gas PLC (LON:IOG), led by chief executive Andrew Hockey, is taking share options in lieu of salary and fees.

In all, Independent, which owns assets in the North Sea, has issued options over 628,496 shares that can be exercised at 1p. The close on Thursday was 11.54p.

The options are in place of salary and fees for the five months to the end of February.

Yesterday, Independent told investors that it is making progress with its farm-out talks and said it expects a project funding decision in the first half of 2019.

The company recently raised £16mln and saw off unsolicited takeover attempts from RockRose Energy.

The cash injection will fund the drilling of a well at the Harvey project, which will spud in the middle of this year.

IOG has also earmarked cash to pay for its development plan for the Goddard gas field.

View full IOG profile View Profile

Independent Oil & Gas PLC Timeline

Newswire
January 04 2019

Related Articles

Gas plant
May 09 2019
“Lixus allows lows us to ally elephant hunting with low-risk product and exploration targets.
oil rig
May 16 2019
Zubair Corporation will pay US$5mln in two tranches to develop Ntorya
Statue is offset by European Union and Italian flags mounted on a building
May 09 2019
Selva onshore gasfield is a company focus and has 13.3 billion cubic feet of reserves.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use