Independent Oil & Gas (LON:IOG)
Independent Oil & Gas (IOG)# has announced that it has submitted the draft Blythe Field Development Plan to the Oil and Gas Authority (OGA) which was submitted on time as part of the licence extension.
Subject to development funding first gas from the field is expected in 2018, which we use for our modelling purposes. As a reminder the Blythe Field forms part of IOG’s Southern North Sea (SNS) gas hub with 2P reserves of 34.3BCF and all the subsurface work is complete.
We maintain our BUY recommendation.