Energi Oil to Seek Shale Gas in Ireland

Enegi Oil Plc. has announced that it has been offered a 100% interest in an Onshore Petroleum Licensing Option to undertake a work programme on areas of interest within the Clare Basin located onshore western Ireland, covering an area of approximately 495 sq. kilometres.

Based on technical studies that have been carried out, the Company believes that the Clare Basin has the potential to contain shale gas. Well log analysis indicates the presence of a hot shale area, within the Clare Shale, that appears favourable for shale gas generation.

Following completion of the work programme, Enegi can to apply for Exploration Licenses over all or part of the areas of interest. Exploration Licenses are required before drilling activities can occur and the Company intends to apply for the relevant Exploration Licenses should the work programme identify prospective targets. The work programme is expected to cost up to £500,000, and must be performed within a two year time frame.

Source: Enegi Oil