IOG placing raises £8.5m, plans to trigger extension option for Noble Hans Deul rig

IOG placing raises £8.5m, plans to trigger extension option for Noble Hans Deul rig

IOG, formerly Independent Oil and Gas, has raised more than £8 million after it completed an “oversubscribed” fundraiser.

The cash will allow the UK energy company to trigger an “attractive extension option” for use of the Noble Hans Deul rig for a “dual-lateral well” next year.

That will allow for the appraisal Kelham North and Kelham Central prospects.