Antrim updates Skellig 3D data (Ireland)

Antrim Energy Inc. has provided an update on its prospect inventory with respect to Frontier Exploration Licence 1/13 (FEL 1/13) which includes blocks 44/4, 44/5 (part), 44/9, 44/10, 44/14 and 44/15 (collectively the Skellig Block, Antrim 25% working interest) offshore Ireland.

The prospect inventory, prepared by the operator of the licence, Kosmos Energy Ireland, includes several leads previously identified and highlights three prospects including two tilted, Jurassic fault blocks and a Cretaceous submarine fan.

Two of the three prospects were previously included as leads in the prospective resources evaluated by McDaniel & Associates Consultants Ltd. in accordance with National Instrument 51-101 in a report dated effective June 30, 2014 (as announced by Antrim on July 29, 2014).

An additional second Jurassic prospect identified by Kosmos has yet to be reviewed by Antrim’s independent evaluator. Antrim says that further detailed seismic analysis is expected to be completed by the end of Q1 2015 in order to risk and rank these prospects.

The company also intends to update the previous McDaniel report to reflect the current prospect inventory including the additional second Jurassic prospect and the new work being completed.

Commenting on receipt of the prospect inventory, Antrim’s CEO Anthony Potter said: “We are very pleased with the quality of the 3D seismic data and the evaluation completed so far. These results support our continuing effort to de-risk the Irish Skellig Licence and create significant value for shareholders.”

Sound Oil recently announced its plans to launch a takeover bid for Antrim Energy. The company said that its Board would consider the offer.

 

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