Print

SOSINA Exploration Ltd.

SOSINA awarded three licensing options in the 2011 Irish Atlantic Margin Round

21 October 2011

The announcement was made on Monday 17 October 2011 by the Minister for Communications, Energy and Natural Resources, Mr Pat Rabbitte, TD at the Atlantic Ireland Conference in Dublin

 

These Licensing Options have an initial two year term after which they may be converted into Frontier Exploration Licences, which have a 15 year term.  SOSINA Exploration Limited's partners in the new acreage include both existing co-venturers, such as Chrysaor E&P Ireland Ltd ("Chrysaor") and Providence Resources P.l.c. ("Providence"), as well as Repsol Exploration Irlanda S A ("Repsol") as new entrant. Providence will operate the licensing options in all three areas which cover c. 4,700 sq km and range in water depth from c. 300 m to 2,500 m.

 

Details of the Licensing options are as follows:

 

Licence Option No. 11/11 11/9 11/2
BasinGoban SpurSouth PorcupineMain Porcupine
Licence NameNewgrangeDrombegSpanish Point South
No. of Blocks/Part Blocks86
Partners (Equity %)

Providence (40 %)

Repsol (40 %)

SOSINA (20 %)

Providence (80 %)

SOSINA (20 %)

Providence (32 %)

Chrysaor (58 %)

SOSINA (10 %)

OperatorProvidenceProvidenceProvidence

 

SOSINA concession map showing the

recently awarded 2011 licences.

 

Contacts:  

Dr. David J. Davies

Managing Director, CEO

SOSINA Exploration Ltd

1 Berry St

Aberdeen AB25 1HF

Tel: +44 01224 845472
Mob: +44 7703 293 649

 

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.