Our client, Independent Oil and Gas plc (“IOG”) has closed a GBP 15 million loan facility from London Oil & Gas Group to fund an appraisal well on its Harvey gas field in the Southern North Sea. The Harvey field is 100% owned and operated by IOG and contains mid-case prospective gas resources of 114 Bcf. If successfully appraised, the Harvey field will substantially increase the gas reserves that IOG can produce through its Blythe field hub, with gas production transported through IOG’s Thames Pipeline to the Bacton gas processing facility on the Norfolk coast.
Kapok Capital is pleased to have played a supporting role in this transaction. We are continuing to work with IOG on other initiatives to advance the development of its gas resources to production stage.
Further details of the transaction are available at: https://www.independentoilandgas.com/news_detail.php?Title=Completion-of-Harvey-Funding,-Seismic-Reinterpretation-Results-and-Harvey-Appraisal-Well-Preparation