Reference is made to the announcement dated 24th November 2014 in relation to a private placement.
Following the completion of the offering and the issue of 5.707.052 new shares, Independent Oil & Resources Plc share capital has been increased by NOK 14.267.630,00. The new share capital is NOK 43.230.352,50 comprised of 17.292.141 shares with a nominal value of NOK 2,50 per share.
The new shares have been registered with VPS System.
Limassol, 23rd December 2014
Independent Oil & Resources Plc
Jan Egil Moe