StockMarketWire.com - Independent Oil and Gas has issued updates on its Harvey and Elgood licences.

IOG said the Oil and Gas Authority had confirmed the continuation of licence P2085, which contained the Harvey discovery, until 20 December 2017.

IOG said technical work prepared it submitted in relation to its Elgood discovery had also been accepted by the OGA and would be added to the Blythe field development plan as a satellite development.

Chief executive Mark Routh said: "We appreciate the continued support of the OGA with regards to our Southern North Sea gas portfolio.

"The excellent technical work completed by our team on Harvey has confirmed an exciting gas discovery adjacent to our Blythe and Vulcans hubs and the work on de-risking Elgood has avoided the need for a further appraisal well before development.

"We are making good progress on moving our Southern North Sea developments forward and related funding and will provide more updates in due course."


At 9:47am: [LON:IOG] Independent Oil Gas PLC share price was +0.25p at 16.5p



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