Independent Oil and Gas plc ("IOG"), the development and production company focused on becoming a substantial UK gas producer, is pleased to announce the appointment of Rupert Newall and James Chance in new senior roles.

Rupert Newall has been appointed Chief Financial Officer with immediate effect and current CFO James Chance has been appointed Head of Corporate Finance and Investor Relations. Rupert and James will both continue to serve on IOG's Executive Management Committee. It is intended that Rupert will join the IOG board following satisfactory completion of regulatory due diligence.

Rupert joined IOG in November 2018 and has over 25 years of finance and advisory experience in the upstream oil and gas industry, primarily in investment banking where he has provided strategic, transactional and financing advice to a broad range of E&P companies and majors.  His investment banking career included roles at Deutsche Bank, Bank of America and BMO Capital Markets where he was Co-Head of Investment & Corporate Banking EMEA.  Rupert's extensive upstream experience includes corporate and asset transactions, strategic advisory, equity and debt capital markets and restructuring.  Rupert has a BA in Economics from Cambridge University.

James joined IOG in July 2015 and took on the role of CFO in September 2017. He has led a number of key processes and transactions for the Company, culminating in the €100 million bond issue in September 2019. Prior to IOG, James was a director in the oil & gas team at Standard Chartered Bank, managing relationships with E&P and integrated energy companies across corporate finance, advisory, financial markets and transaction banking. He previously held a similar role at Standard Bank and prior to that was an advisor to financial and energy companies operating in the MENA region. James holds an MBA from London Business School, a BA from Oxford University and a PhD from London University.

Fiona MacAulay, Independent Non-Executive Chair of IOG, commented:
"I am delighted to confirm these new appointments which reflect the senior talent we have, the progress IOG has made this year, and the exciting work that lies before us. Rupert has been an invaluable member of the senior management team over the past year, most notably leading the successful farm-out process. Rupert's extensive experience will be key as we deliver the Core Project and grow further by adding attractive reinvestment opportunities to the portfolio.

James has been a key part of IOG's management team over the past 4 years and played a vital role in transforming the Company's prospects during 2019 in particular. In conjunction with the farm-out, the successful bond issue he led ensured our Core Project is fully funded. I am delighted that he will take on this important role as we move IOG into the next phase and I look forward to continuing our work together."

Andrew Hockey, CEO of IOG, commented:
"Rupert's commercial and financial expertise will be crucial as we transition IOG into a cash generative production company and develop it beyond our fully funded Core Project. We have a highly effective senior management team at IOG and James will play a key part in developing the company in his new role. We are very excited about the future of IOG and the value we can deliver to shareholders from our core portfolio that is now fully funded to cashflow."

Name change

Independent Oil and Gas plc intends to be known henceforth simply as IOG and has today released a new website and corporate presentation.

Andrew Hockey, CEO of IOG, commented:
"We are delighted to release our new website and updated corporate presentation under the simplified brand name of IOG. The new materials reflect the significant progress we have made this year and further articulates our business development strategy which we are pursuing under the refreshed IOG identity."

Link to UOG UK country profile