STOCK WATCH

NORTH Sea minnow Independent Oil & Gas (IOG) ended the week on a high after it struck a deal with Cal Energy, a subsidiary of Berkshire Hathaway Energy.

IOG has agreed to sell a 50pc stake in areas of the southern North Sea where it has the right to drill. It will pocket £40m, but Cal Energy will also put in about £125m towards development costs with the option to put £20m towards buying into another site.

Shares rocketed 21.8pc, or 3.5p, to 19.5p.