Adriatic Oil Plc

Adriatic Oil Plc is a publicly quoted UK-incorporated international oil and gas exploration company with a portfolio of activities focused on the North Celtic Sea, the UK North Sea and the Adriatic Sea Basin. In the North Celtic Sea, the Company has agreed with Fastnet Oil & Gas plc to farm-out 64. 5% of its original 80% interest in a Licensing Option which covers an area of 881 sq. km. Following execution of the Farm-in Agreements, the Company will hold 15. 5% of the Licensing Option. The Company has a second small carried interest in offshore Western Ireland. Separately, in the Inner Moray Firth area of the UK's North Sea, Adriatic Oil has secured a 25% Farm-In, approved by the UK Department of Energy and Climate Change, to Seaward Production Licence P1921 in relation to Blocks 12 /18 and 12 /19c and the Company has an option for a further 25% . The Company is also focused on making and progressing applications for offshore exploration opportunities in Albania, which holds the largest onshore oilfield ever found in Europe with 5. 7 billion barrels of oil in place. Adriatic Oil's strategy is to add shareholder value by proving and developing leads and plays in areas which the Directors of the Company consider to be high potential oil and gas provinces. Adriatic Oil's ordinary shares are quoted on the ISDX Growth Market (operated by ICAP Securities & Derivatives Exchange Limited) under the ticker symbol 'ADOP'.
Social Link - Linkedin: http://www. linkedin.com/company /adriatic-oil-plc
Employee Count: 1
Keywords: oil & energy