Island Oil & Gas Wins Two New Licenses

Island Oil and Gas PLC said it has been granted two new licenses offshore Ireland. One license covers blocks in the Southern Slyne Trough. Island Oil, the designated operator, and Lundin Petroleum AB will each hold a 50 percent interest in the newly named Inishmore Licence.

The second award is the newly named Inishowen licence in the Donegal Basin. Again, Island is the designated operator with a 40 pct stake, while Lundin will hold 40 pct and Endeavour Energy 20 pct. Source: Lifestyle Extra