16th Jun 2015 08:34
LONDON (Alliance News) - Northern Petroleum PLC said Tuesday that the environment impact assessments for its three remaining exploration permit applications in the southern Adriatic sea have been approved.
"With all the southern Adriatic EIAs approved, the company can now work with the Italian authorities to finalise the award of the permits. Once received, a full 2D seismic programme will be designed to evaluate the potential of the company's 4,500 square kilometres of contiguous permits and develop further opportunities similar to the Giove discovery and Cygnus exploration prospect," said Chief Executive Officer Keith Bush in a statement.
Shares in Northern Petroleum are trading up 3.0% at 9.17 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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