The license has a four year duration and existing 3D seismic survey coverage and the commitment is to drill a single exploration well.
In 2008, PA Resources was awarded shares in two exploration licenses, firstly in block Q7 and subsequently in block Q10a. Block Q7 contains an earlier gas discovery and a number of other interesting prospects. PA Resources holds 30% interest in both licenses.
We are very pleased to have been awarded this new license which together with our previous two licenses has significant potential and we look forward to progressing the exploration activities, said Ulrik Jansson, president and chief executive officer at PA Resources.
