IOG set for full ownership of Skipper in North Sea

Independent Oil and Gas has agreed to acquire the 50% of license P1609 containing the Skipper discovery from Alpha Petroleum Resources.

Offshore staff

LONDONIndependent Oil and Gas has agreed to acquire the 50% of license P1609 containing the Skipper discovery from Alpha Petroleum Resources.

On completion, subject to confirmation of funding and regulatory approvals, IOG will become operator with a 100% interest in the license.

An initial work program has been proposed for drilling of a commitment well in mid-2016. This is subject to an extension of the license, which currently expires on Sept. 30.

IOG is in discussions with an unnamed party relating to a rig contract for the initial well and likely subsequent development wells on Skipper.

It has signed a letter of intent to secure funding which will hopefully be in place by mid-August.

06/04/2015

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