21 September 2011
There are now three large exploration companies among the Dunquin partnersRepsol Exploracion Irlanda, S.A. (?Repsol?) will farm in to Frontier Exploration Licence 3/04 (?Dunquin?) by acquiring a 25% equity interest (12.5% from ExxonMobil Exploration and Production Ireland (Offshore) Limited (?ExxonMobil?) and 12.5% from Eni Ireland B.V. ("Eni")). Following completion of this transaction, which is subject to regulatory approval, the respective equity interests in the Dunquin licence will be as follows: ExxonMobil (Operator) 27.5%; Eni 27.5%; Repsol 25%; Providence 16% and Sosina 4%.
Contacts: | ||
Dr. David J. Davies Managing Director, CEO SOSINA Exploration Ltd 1 Berry St Aberdeen AB25 1HF Tel: +44 01224 845472 | Mr. John Ødegaard, Chairman of the Board Tel: +45 35 31 10 03 Mobile: +45 27 26 00 03 |
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.