21 November 2014
SR2020 Inc

International Oil and Gas Technology Limited (LSE: OGT) ("the Company") announces that OptaSense, Inc, of Houston, Texas ("Optasense"), a subsidiary of QinetiQ Group PLC (LSE:QQ), acquired the seismic processing and imaging assets of SR2020, Inc ("SR2020"), a portfolio investment of the Company, on 20 November 2014.  The consideration for the sale of the assets and service capability includes cash consideration to SR2020, which will enable SR2020 to pay certain debts due to third-party secured creditors, and deferred consideration of up to US$1.0 million to the Company, payable in one amount and based on an earn-out mechanism reflecting revenues over the next twelve months.

For further information:

Investment Manager
Linton Capital LLP
David Sefton
dsefton@linton-capital.com Tel: +44 20 7917 2916
Corporate broker
Numis Securities
Nathan Brown
n.brown@numis.com Tel: +44 20 7260 1426

Notes to editors:

International Oil and Gas Technology Limited

International Oil and Gas Technology Limited is an authorised closed-ended investment company incorporated in Guernsey.  The Company was admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange on 7 January 2008.  Its stock market EPIC is OGT.L.

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