14 March 2008
SOSINA, Providence, and ExxonMobil (operator) awarded two new license areas covering 13 blocks.
SOSINA Exploration Limited (SOSINA) confirms that, along with its partners, ExxonMobil Exploration and Production Ireland (Offshore) Limited ("ExxonMobil") and Providence Resources Plc ("Providence") it has been awarded two additional licences in the Porcupine Basin off the west coast of Ireland. The Irish Government's Department of Communications, Energy and Natural Resources 2007 Irish Licensing Round results were announced by Eamon Ryan TD, Minister for Communications, Energy and Natural Resources on 5 March 2008.
The licences are located in water depths exceeding 6,500 feet, and together comprise 13 blocks and an area totalling 760,000 acres. A number of potential leads have been identified across the two licences, including a prospect known as "Drombeg".
The new awards bring SOSINAs and its partners' Porcupine Basin interest to 18 exploration blocks plus an option for an additional 15 blocks, giving ExxonMobil, Providence and SOSINA an expanded exploration position in the basin. ExxonMobil has been awarded Operatorship of the two new license areas and will apply its global leadership geoscience and deep water drilling capability to these Irish operations.
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
|
About the new license areas:
1.) New Licence Areas:
Equity Ownership:
ExxonMobil Exploration and Production Ireland (Offshore) Limited 80% (Operator), Providence Resources P.l.c. 16%, SOSINA Exploration Limited 4%.
? The 6 Drombeg blocks are 52/5, 52/10, 52/15, 53/1, 53/6 and 53/11.
? The 7 Drombeg Extension blocks are 52/13 (part), 52/14, 52/18, 52/19, 52/20, 52/23 and 52/24 (part).
2.) Dunquin Licence Area (FEL3/04):
Equity Ownership:
ExxonMobil Exploration and Production Ireland (Offshore) Limited 80% (Operator*), Providence Resources P.l.c., 16% SOSINA Exploration Limited 4%.
* Taking over Operatorship from Providence with effect from March 31st, 2008 (announced March 3rd, 2008)
? The 5 Dunquin blocks are blocks 44/18, 44/23, 44/24, 44/29 and 44/30.
3.) Goban Spur Licensing Option (LO06/1):
Equity Ownership:
ExxonMobil Exploration and Production Ireland (Offshore) Limited 80%, Providence Resources P.l.c. 16% (Operator), SOSINA Exploration Limited 4%.
? The 15 Goban Spur blocks are 61/17, 18, 19, 20, 22, 23, 24 & 25 & 62/21 over the Goban Graben and Blocks 61/14, 15, 62/11, 16, 17, & 22 over the Goban Spur Basin.
| Document | Size | Format | |
| Text | 15 KB | RTF | Download >> |
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.