Tuesday 15 January 2019

Azeire Ltd. (“Azeire”), an Ireland focused oil and gas exploration company backed by Seacrest Capital Group, is pleased to announce that the Minister of State at the Department of Communications, Climate Actions and Environment has approved both the extension of Frontier Exploration Licence 1/13 (FEL 1/13) for two years, and the conversion of Licence Option 16/17 (LO 16/17) to Frontier Exploration Licence 1/19 (FEL 1/19), commencing 1 February 2019.

Azeire is one of the largest acreage holders offshore Ireland with extensive 100% operated licence interests over a high-graded acreage position totalling 5,708km2. Azeire was awarded LO 16/17 covering blocks 44/14P, 44/15P, 44/19, 44/20, 44/25, 45/21, 45/26a in the 2015 Atlantic Margin Licensing Round and acquired its interest in FEL 1/13 in 2016, through its acquisition of the entire share capital in Antrim Exploration (Ireland) Limited

These recent extension and conversion awards in the Porcupine basin, together with Azeire’s existing Licence Options in the FastNet and North Celtic Sea basins, ideally positions Azeire’s portfolio to benefit from the insights expected to be derived from a number of planned upcoming wells to be drilled in the region.