Moesia Oil and Gas Granted Four Bulgarian Permits

The Bulgarian government has today awarded four exploration permits to Dublin-based Moesia Oil and Gas, the Sofia News Agency has reported.

The permits will cover Moesia to explore for both oil and gas in four areas in Bulgaria for a five-year period. The Irish junior, which was incorporated in 2008 and which already has interests in Romania, will in turn provide investment of €9.3 million into the four permits.

Additionally, a €125,000 investment will be made into environmental monitoring over the course of the five-year permits.

All four permits are reported to be located in the north of Bulgaria, in the districts of Montana, Lovech, Vratsa, Gabravo and Pleven. Bulgarian news site Capital Daily reports that these permits will relate to the Block 1-5 Devetaki, Block 1-7 Tarnak, Block 1-9 Mizia and Block 1-10 Botevo.

No official comment had been released by Moesia Oil and Gas at the time of writing.