Ireland Operations

CELTIC SEA

Licence Option 08/1 (30% interest)

BARRYROE

The Barryroe Licensing Option lies directly below and adjoining the Seven Heads gas field Lease. Three previous wells tested oil at between 1,300 and 1,600 BOPD.  Oil tested was light crude (30 to 42 API) with a high wax content.  Potential development synergies with other Celtic Sea projects are being reviewed by the Group.

In the western part of the Barryroe Licence acreage, situated to the west of the producing Seven Heads gas field, the shallower section above 4000ft sub-sea is also included in the Licensing Option and this is considered to be prospective for gas.