Additional Licences awarded at Spanish Point in the 2007 Irish Round
14 March 2008
SOSINA, Providence, and CMI awarded new license acreage adjacent to their Spanish Point acreage.
SOSINA Exploration Limited (SOSINA) confirms that, along with its partners,, Providence Resources Plc ("Providence") and Challenger Minerals (Celtic Sea) Limited ("CMCSL"), a subsidiary of Transocean Inc., it has been awarded new license acreage adjacent to its Spanish Point acreage.
The Irish Government's Department of Communications, Energy and Natural Resources 2007 Irish Licensing Round announced the results of their 2007 Irish Frontier Licensing Round on March 5th 2008. Covering 4 blocks, this license area is situated adjacent to the Spanish Point License (FEL 2/04) which holds the Spanish Point gas condensate accumulation and the Burren oil discovery. Providence will operate this license on behalf of the partners.
Plans are now being progressed to conduct a seismic survey on this new acreage.
Contacts:
Dr. David J. Davies Managing Director, CEO SOSINA Exploration Ltd 1 Berry St Aberdeen AB25 1HF Tel: +44 1224 845464 | Mr. John Ødegaard, Chairman of the Board Tel: +45 35 31 10 02 Mobile: +45 27 26 00 03
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About the new license areas:
1.) New License Area:
Equity Ownership:
Providence Resources Plc 72% (Operator), SOSINA Exploration Limited 18%, Challenger Minerals (Celtic Sea) Limited10%.
? The 4 blocks are Blocks 35/2(part), 35/3(part), 35/4 and 35/7(part).
2.) Spanish Point License Area (FEL2/04):
Equity Ownership:
Providence Resources Plc 72% (Operator), SOSINA Exploration Limited 18%, Challenger Minerals (Celtic Sea) Limited 10%.
? The 2 Spanish Point blocks are blocks 35/8 and 35/9.
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