Black Rock has a 15% interest in the block, Carrizo being the Operator. The award is a "Traditional Seaward Production license" and, under the terms of the award, Carrizo and Black Rock are committed to purchasing seismic data to evaluate the hydrocarbon potential of the acreage, after which there is a "drill or drop" commitment
Commenting on the award of the Block, Ivan Burgess, Managing Director of Black Rock, said:
'The award of this exploration block demonstrates the benefits of teaming up with a more established player in what has been a highly competitive process.
It represents a significant addition to Black Rock's exciting portfolio of UK offshore exploration prospects."
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