UK-focused junior explorer Hurricane Energy reported Monday that the UK's Oil and Gas Authority has granted approval for the firm's P1368 license, West of Shetland, to be subdivided into four sub-areas.
The sub-areas will be: P1368 Central, which contains the Lancaster basement discovery; P1368 North, containing the Whirlwind basement discovery; P1368 South, containing the Lincoln basement prospect; and P1368 Southwest, containing the Strathmore sandstone discovery.
Hurricane Chief Executive Dr Robert Trice commented in a company statement:
"The license subdivision is a further important step in the progression of Hurricane's assets as it provides greater flexibility as we progress the options to farm-down our interests in discoveries or prospects within the original P1368 license."
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