Antrim Energy Awarded Two North Sea Blocks

Antrim Energy Inc has been offered 2 blocks, Blocks 42/21 and 42/22, in the southern North Sea gas basin from the 21st Offshore Licensing Round. These blocks were offered as new "Promote" licenses to Antrim and its U.K. partner, Wham Energy Ltd.

Under the terms of the awards, Antrim has two years in which to commit to the drilling of one well or drop the blocks. Antrim has a 20% initial interest in the blocks with the option, under an agreement with its U.K. partner, to increase its equity up to 60% within one year of the date of the official license award. This award comes one week after Antrim's first trading day on the UK's London Stock Exchange.

Our Privacy Pledge

Most Popular Articles
Related Articles

Brent Crude Oil : $50.79/BBL 1.30%
Light Crude Oil : $49.96/BBL 1.10%
Natural Gas : $2.77/MMBtu 2.12%
Updated in last 24 hours