IOG PLC (07434350): administration
- Status
- Administration ended
- Administration began
- 2023-10-11
- Administrators
- Chad Griffin, Ian James Corfield
- Administrators' firm
- FRP Advisory
- Formerly
- Independent OIL and GAS PLC; Independent OIL and GAS Limited; Silbury 395 Limited
- Incorporated
- 2010-11-09
- Location
- London
- Industry
- 06100 Extraction of crude petroleum
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Parent or group failure
From the administrators' statement
The Company was incorporated and commenced trading in November 2010. The Company operates in the gas industry and has focused on the development and production of gas in the Southern North Sea off the coast of Norfolk.
The Company was listed on the Alternative Investment Market (‘AIM” ) at the London Stock Exchange in September 2013.
The Company is the parent company of IOG UK, IOG NS and IOG INL (together the “Group”). IOG UK, IOG NS and IOG INL are the trading entities of the Group, with IOG UK and IOG NS holding a 50% share in a number of North Sea Gas licences in the Saturn Banks area of the North Sea (“the licenses”). IOG INL holds a 50% share in the pipeline and onshore reception facility infrastructure for the export of the Saturn Banks hydrocarbon production.
Administrators' statement of proposals (2023-12-08) · Companies House register