Black Rock said it was offered and will accept four licensing options located east of Ireland - 04/5, 04/6, 04/7 and 04/8. It has 100% equity and will operate these permits for the two-year grant period.
Three of the four blocks are in the offshore North Celtic Sea Basin while the fourth lies within the East Irish Sea.
Licensed areas 04/5, 04/6, and 04/7 are situated in the south-western extremity of the North Celtic Sea Basin and are on trend with the Fastnet Basin to the South. The North Celtic Sea and the Fastnet Basins contain proven productive petroleum systems. Adjacent acreage within the Basin contains the Seven Heads, Kinsale Head and Bally Cotton Gas Fields.
The fourth area, 04/8 provides a Triassic oil and gas play. According to Black Rock, Triassic rocks in the adjacent East Irish Sea Basin are hydrocarbon-bearing.
The work program for these licence option areas requires acquisition of all relevant seismic, gravity and well data. A program of interpretation, mapping and prospect identification will follow the data acquisition phase, along with anticipated development scenarios and economic evaluation.
Meanwhile Black Rock has decided not to continue with its Perth Basin exploration in EP-419. It has sold its 20% interest for a non-significant number of shares in another company.
