Island Oil & Gas Drilling Begins at Celtic Sea well
Island Oil and Gas PLC said it spudded a gas appraisal well (49/23-2) in the Celtic Sea, offshore Ireland. The well is the first of this year's drilling program. It is also the company's second well at the Old Head of Kinsale and follows on from the gas discovery with its operated well 49/23-1 in 2006. The company plans to produce first gas in the fourth quarter of 2008. Source: AFX
Island Oil & Gas Wins Two New Licenses
Island Oil and Gas PLC said it has been granted two new licenses offshore Ireland. One license covers blocks in the Southern Slyne Trough. Island Oil, the designated operator, and Lundin Petroleum AB will each hold a 50 percent interest in the newly named Inishmore Licence. The second award is the newly named Inishowen licence in the Donegal Basin. Again, Island is the designated operator with a 40 pct stake, while Lundin will hold 40 pct and Endeavour Energy 20 pct. Source: Lifestyle Extra
