Arenite Petroleum Limited submitted a bid including a firm well commitment on the 25th October 2014 for two 14th Onshore Licence Round blocks.
The 14th Round licence awards are expected in 2H 2015. Arenite joined forces with an established UK E&P exploration and production operator and a North American E&P operator in a joint venture.
Mike Cooper (CEO) said “We are waiting patiently for DECC to announce the awards for the 14th Landward Licence Round”. We anticipate there will be a lot of competition for acreage in the area we have targeted, as we believe there is the potential to deliver a new untapped energy source of national significance”.