Antrim Energy Inc. an international oil and gas exploration company, has announced that its subsidiary Antrim Exploration (Ireland) Limited has received formal approval from the Department of Communications, Energy and Natural Resources (DCENR) of its application for a 100% working interest in Frontier Exploration Licence (FEL) 1/13.
The approval follows the company’s identification of two highly prospective Jurassic fault blocks and one Cretaceous submarine fan system in the FEL 1/13 Licence, as well as numerous other leads. FEL 1/13 has a 15 yr term, with an initial three year term followed by three four yr terms. The initial three-year term expires in early July 2016 and Antrim has submitted a request to extend the first exploration term by an additional two years and this request requires the approval of the Irish authorities. The company is also currently seeking a new farm-in partner and operator to complete any additional technical work necessary during the period of any extension granted by the Irish authorities with the ultimate goal that a well commitment could be made at the end of the revised first exploration phase.
Adapted from a press release by Louise Mulhall
Read the article online at: https://www.oilfieldtechnology.com/exploration/13062016/antrim-obtains-100-working-interest-in-fel-1-13/