3rd Mar 2014 10:47
LONDON (Alliance News) - Independent Oil & Oil PLC said Monday it has extended its Blythe and Skipper licences by 18 months.
The North Sea-focused oil and gas firm has a 50% interest in the Blythe and Skiper licenses, with are operated by Alpha Petroleum Resources Ltd.
The 18 month extension takes the licences to September 31, 2015, said the firm.
Mark Routh, CEO of IOG said, "Removing all uncertainty relating to expiry of these licences is an expected but still significant step for IOG. We look forward to updating the market on our progress with these and our other assets in due course."
Shares in the AIM-listed firm were trading up 1.6% at 25.4 pence per share Monday morning.
By Alice Attwood; [email protected]; @AliceAtAlliance
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