StockMarketWire.com - Independent Oil and Gas said its Thames pipeline was in extremely good condition but added that a faulty 'pig' to further assess the pipeline could delay the development of its southern North Sea assets.

'Initial intelligent pigging run gathered insufficient data due to technical malfunction with the pig,' the company said.

A second intelligent pigging run would be undertaken in the next few weeks, the company confirmed.

Three samples of the Thames pipeline, which were cut offshore, revealed the pipeline was in good condition.

'The Intelligent Pigging Programme has so far provided extensive and valuable new information to the IOG team to support our plans to recommission the fully-owned Thames Pipeline and produce our proven and probable reserves of over 300 BCF safely into the Bacton gas terminal and the UK market, said Andrew Hockey, CEO of IOG.

'We are very pleased with the two successful pressure tests, several pig runs in both directions through the line, and the excellent condition of the sections extracted to shore...'

At 9:37am: [LON:IOG] Independent Oil Gas PLC share price was -0.25p at 21.5p



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