Shares in Independent Oil & Gas traded up 19.5% at £0.24on London’s Alternative Investments Market on Friday morning after theannouncement.
IOG said earlier on Friday that Alpha Petroleum was due tocomplete its acquisition of ATP Oil & Gas UK on Monday, and that the Department ofClimate Change would extend its Skipper and Blythe licences by 18 months fromthat date.
The Alpha Petroleum investment vehicle of private equityfirm Petroleum Equity agreed to acquire ATP Oil & Gas UK from its cash-strappedUS parent for $133 million last month.
IOG
