A contract to secure a drilling rig for the Spanish Point well is signed

10 July 2013

Cairn Energy has received Government approval as new Operator

SOSINA Exploration Ltd is pleased to confirm that Cairn Energy, as Operator, today on behalf of theco-venturers has entered in to a contract to secure a drilling rig for the planned Spanish Point appraisalwell located in FEL 2/04, in the Porcupine Basin, Quad 35 area offshore West of Ireland. Cairn, and its coventurers, Providence Resources, Chrysaor and SOSINA Exploration Ltd, will use the ?Blackford Dolphin?, which is an enhanced Aker H3 deep-water semi-submersible rig that underwent a $400 million upgrade in 2006.

Subject to obtaining the necessary government approvals, the rig will be mobilised to begin operations onthis well in Q2 2014 on licence FEL 2/04.

On 7th. May, 2013, it was announced that Cairn had entered in to a farm-out transaction with Chrysaor and SOSINA subject to government and partner approvals, which have now been received. Following this transaction, Cairn now has a 38% working interest (WI) in two licences and six adjacent licensing optionblocks offshore West of Ireland with co-venturers Providence (32% WI), Chrysaor (26% WI), and SOSINA(4% WI).

The semi-submersible rig "Blackford Dolphin"     Photo: ©Dolphin Drilling.

Contact:

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.