WHAM Expands Southern North Sea Base

WHAM Energy PLC, the UK petroleum exploration and production company, announced the acquisition of five 24th Round promote licenses covering nine full blocks and two part blocks. WHAM has a 100% working interest in 10 of the blocks and is partnered by GTO Limited in one block. The blocks all lie in the UKCS Southern North Sea gas province and along its northern margin.

The licensed areas comprise:

--Blocks 38/20, 38/25, 39/16, 39/21 WHAM 100%
--Blocks 38/29, 38/30, 39/26 44/5 WHAM 100%
--Block (part) 44/27c WHAM 100%
--Block (part) 49/22b WHAM 100%
--Block 47/6 WHAM 90% GTO 10%

Commenting on the awards, WHAM Energy's CEO Tom Windle said:

"This is an excellent result and justly reflects the very considerable efforts of our exploration team in acquiring potentially attractive exploration acreage. We have successfully acquired a blend of small, low risk gas prospects and leads in well established trends and some licenses that have very interesting medium term potential on the flanks of the basin. In pursuing these promote licenses WHAM has continued to build its portfolio in our core area at very acceptable costs. We will commence mapping immediately and at the same time seek co-venturers to accelerate our exploration program."

WHAM Energy's Exploration Manager, Dr. Andy Mortimer, said:

"The exploration team are delighted by the awards. We suspected there was going to be tough competition for acreage in this license round, especially in the conventional fairways and so we are pleased to have been awarded so many blocks. The blocks provide WHAM with a good mixture of exploration opportunities on which we can apply our in-house expertise to develop into firm drillable prospects at low cost."

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