Antrim Energy subsidiary Antrim Exploration (Ireland) received formal approval from Ireland’s Department of Communications, Energy and Natural Resources (DCENR) of its application for a 100% working interest in frontier exploration license (FEL) 1/13.
The company has identified two highly prospective Jurassic fault blocks and one Cretaceous submarine fan system in the FEL 1/13 License, as well as numerous other leads.
FEL 1/13 has a 15-year term, with an initial three-year term followed by three four-year 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.
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