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Independent Oil & Gas

  • BY: Andrew Hore |
  • POSTED: 16/09/2013 |

North Sea-focused oil and gas explorer Independent Oil & Gas is planning to join AIM on 30 September.

The company was formed to combine the UK assets of MOST Inc and Ebor Energy Inc and it combines proven oil and gas fields in the North Sea and exploration. Independent owns 50% of the Blythe gas field in the Southern North Sea (blocks 48/22b and 48/23a) and 50% of the Skipper licence south east of the Shetlands (block 9/21a). ATP Oil & Gas Corporation owns the rest. These licences require extension from the end of September expiry date. Independent was awarded the Skipper West licence (blocks 8/20a and 8/25a) in May 2013.

Chief executive Mark Routh has a background in petroleum engineering at Schlumberger and BP. He founded CH4 Energy, an independent gas producer which bought Eni’s interest in the Markham gas field in the North Sea, and he left when Venture Production acquired CH4 in 2006, which was bought by Centrica two years later. Routh currently owns 4.83% of the company with finance director Peter Young owning 27.8%.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFSeptember2013_48.pdf

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