Ireland Extends Predator Licensing Option

Predator Oil & Gas Holdings has been granted a one-year extension on a licensing option to explore offshore Ireland, the London-listed company announced April 10.

The Jersey-based Oil and Gas Company Predator said the extension of Licensing Option 16/30 ("LO 16/30") to 30 November 2019, is subject to the carrying out of a work programme agreed with the  Department of Communications, Climate Action and Environment.

A decision by the company to proceed to an application for a follow-on Exploration Licence as provided for under the terms of the Licensing Option will be made on or before 60 days prior to the end of the Licensing Option, Predator added.

The work programme includes the purchase and reprocessing of existing 2D seismic data and ongoing desk-top studies, principally focused on re-evaluating the Marathon 49/19-1 gas discovery, which was made in 1984 on the Ram Head prospect.

Predator secured the licensing option in 2016 as part of the 2015 Atlantic Margin Licensing Round.