13th Jul 2006 10:31
Island Oil and Gas PLC13 July 2006 13 July 2006 ISLAND OIL & GAS COMMENCES DRILLING AT OLD HEAD OF KINSALE, OFFSHORE IRELAND Island Oil & Gas plc ("Island" or the "Company") today announces that it hasspudded well 49/23-1 (the "well") on Exploration Licence 4/05 (the Old Head ofKinsale) in the Celtic Sea, offshore Ireland. The well is being drilled usingthe Petrolia rig (the "rig"), owned and operated by Petrolia Drilling Limitedunder contract to Island. Island is operator with a 100% interest. Well 49/23-1 was spudded on the evening of 12 July 2006 in a water depth of 286feet and is planned to be drilled to a total depth of approximately 4,220 feet. Subject to regulatory consents and approvals, the rig will move after thecompletion of the 49/23-1 well to the Donegal Basin where it will drill a wellon the Inishbeg prospect in Frontier Exploration Licence 1/05 located on theAtlantic margin Enquiries: Lisa J Newman MCIPR MIRSNewman Consulting Tel: +44 (0)1252 878682 Notes to editors: Island was founded in 2003 and listed on AIM in December 2004. The Company hasinterests in nine Irish offshore licences, (four as operator and two astechnical manager), including one producing gas field. Further information on Island can be found on the Company's website at http://www.islandoilandgas.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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