Independent Oil & Gas PLC (IOG) agreed to acquire 100% of UK license Block 48/22a from Swift Exploration for an initial consideration of approximately USD 782,000, with additional milestone payments due depending on field performance. A report commissioned by IOG shows a base case expected gas recovery of 17.6 Bcf or 3.4 million BOE 2C resource from a gas discovery within Block 48/22a.
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