Participants in the license 1/05 are Lundin Petroleum (30.00%), Island Oil and Gas (31.00%), Lansdowne Oil & Gas (19.25%), Petroceltic International (16.25%) and Sunningdale (3.50%).
Lundin Petroleum has also been awarded the following two new Frontier Exploration licenses in the recent Slyne-Erris-Donegal bid round:
--50% in the Inishmore license covering blocks 27/18 and 27/23 and part-blocks 27/17(E) and 27/22(E) in the Southern Slyne. Operator is Island Oil and Gas (50%). --40% in the Inishowen license covering part-blocks 13/4(S), 13/5(S), 13/9(E), 13/13(N), 13/14(N) & 14/1(N) in the Donegal Basin approximately 60 km east of the Dooish hydrocarbon discovery in the Rockall Basin. Operator is Island Oil and Gas (40%) with partner Endeavour Energy Ltd (20%).
Ashley Heppenstall, President and CEO of Lundin Petroleum comments as follows: "We are excited to see the drilling operations underway on the Inishbeg prospect. Lundin Petroleum is pleased to be leading a renewed exploration effort in this frontier area."
Lundin Petroleum is a Swedish independent oil and gas exploration and production company with a well balanced portfolio of world-class assets in Albania, France, Indonesia, Ireland, Netherlands, Nigeria, Norway, Russia, Sudan, Tunisia, United Kingdom and Venezuela.
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