Edinburgh Oil & Gas Sells Stake in UK License

Edinburgh Oil & Gas has sold its 40 percent interest in the Ryedale gasfields in North Yorkshire (UK onshore licenses PL077, PL079, PL080, PL081, AL006 and DL005) to Viking Petroleum UK Limited for a cash consideration of approximately £3.15 million.

Mr. Alf Bissett, Managing Director of Edinburgh Oil & Gas plc said: 'The sale is in line with our policy of divestment of our UK onshore assets to concentrate on our Buzzard development and exploration interests in the UK offshore sector.'