Proactive Investors - Run By Investors For Investors

Blythe deal shows IOG is delivering on its strategy, says CEO

Independent Oil and Gas Plc (LON:IOG) announced on Tuesday the completion of its deal to take full control of the Blythe gas project, in the Southern North Sea.

It has now acquired the 50% of Blythe that it didn’t already own, paying £1.5mln initially with a further US$5mln due when the field achieves ‘first gas’.

Mark Routh, chief executive, tells Proactive Investors the deal is the “catalyst which allows us to move forward on a proven development plan”

“By taking control of the Blythe asset, which is a proven reserve that needs no further appraisal, we can go straight into the development of Blythe without any partner drag and we can define our own destiny on how we do it,” he says.

Meet Rockfire Resources PLC, Touchstone Exploration Inc, Mkango Resources Ltd and Salt Lake Potash Ltd at our event, London , 20 June 2019. Register here »
View full IOG profile View Profile

Independent Oil & Gas PLC Timeline

January 04 2019

© 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