7 May 2008
The M.V. CGG Princess will be used to carry out the survey.
SOSINA Exploration Ltd. is pleased to announce that ExxonMobil Exploration and Production Ireland (Offshore) Limited ("ExxonMobil"), as operator of Frontier Exploration Licences (FEL) 1/08 & 2/08, has confirmed that a 2D seismic survey is planned to commence over the licences in June 2008. It is planned to acquire up to c. 3,000 line kilometres of 2D seismic reflection data.
The blocks lie in c. 2,000-3,000 metre water depths and are located c. 200 km off the southwest coast of Ireland. The M.V. CGG Princess will be used to carry out the survey which will entail the acquisition of up to c. 3,000 line kilometres of 2D seismic reflection data.
Partners in the Drombeg project are ExxonMobil (80%) as Operator, with Providence Resources (16%) and SOSINA Exploration (4%) as partners. The FEL 1/08 & 2/08 authorisations cover thirteen offshore blocks, and contain the Drombeg exploration prospect. The area was licensed in March 2008, as part of the Irish government's 2007 Porcupine Licencing Round Initiative.
The partners also hold equivalent interests in the nearby FEL 3/04 ("Dunquin") and LO 1/06 ("Goban Spur") areas, where they have to date carried out extensive subsurface studies including the acquisition and processing of c. 2,000 km of long offset 2D seismic reflection data.
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 SOSINA
SOSINA Exploration Ltd. is an independent oil and gas exploration company. The Company was founded in 2004, but with roots back as a sister company to the company Odegaard Ltd. acquired in 2006 by Schlumberger Inc.
SOSINA's active oil and gas portfolio includes offshore interests in Ireland and the UK. SOSINA's portfolio is balanced between appraisal and exploration assets. Comprehensive information on SOSINA and its oil and gas portfolio is available from SOSINA's website at www.sosina.co.uk.