Independent Oil and Gas plc has been advised by ATP Oil and Gas UK Ltd ('ATP UK') that it no longer has a rig contract in place for the drilling of the planned Skipper appraisal well, which was scheduled for Q3, 2014. IOG has consequently commenced the process to replace ATP UK as the operator of the Skipper and Blythe licences, under the Joint Operating Agreements. IOG has also commenced the process with the Department of Energy and Climate Change ("DECC") to meet their requirements to take over as operator.

IOG remains committed to the original drilling schedule, subject to contracting with an alternative rig provider. With the support of ATP UK, IOG has been in discussions with AGR Well Management Ltd ("AGR") with regards to the ordering of long lead items for the Skipper appraisal well, based on the original timetable. AGR is now also assisting IOG in securing a replacement rig slot.

Tags: Independent Oil and Gas plc