Petsec Takes Away 2 Prizes from GOM Lease Sale

Petsec Energy was awarded the Ship Shoal 36 and Ship Shoal 74 leases on which it was the high bidder at the Central Gulf of Mexico Lease Sale 213 held in New Orleans, Louisiana, on March 17, 2010.

Petsec submitted sole bids of US $158,900 and US $127,900, respectively, on the leases and will own a 100% working interest. The leases are in less than 25 feet of water with prospects that are estimated to be greater than 75-100 Bcfe of potential.