18th Sep 2015 11:36
LONDON (Alliance News) - Petrel Resources PLC Friday said it has submitted applications for licence options in the Irish offshore licensing round, for three packages of acreage in the Porcupine Basin Region 2.
The company said that offshore Ireland is its main focus of activity and said that it is confident that it is in good stead and hopeful of an award.
Petrel added that significant work has been done on its joint venture with Woodside Energy of Australia in their two offshore Irish blocks, and that it is ready to undertake a 3D seismic acquisition programme which will better identify and outline potential hydrocarbon bearing structures. The programme is expected to be undertaken in 2016.
Shares in Petrel were trading up 8.0% at 2.70 pence Friday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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