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BLACKSTAIRS ENERGY PLC
COMPANY ANNOUNCEMENT
ROMANIA, NINTH ROUND OF PETROLEUM LICENCING AWARD OF P1X-11 SUDURAU
FIELD
The National Agency for Mineral Resources (NAMR) has announced the
results of the Ninth Round of Licencing. Under the terms of the Round,
fourteen Production Blocks were offered to the industry on a
competitive bidding basis. The individual Production Blocks are over
formerly producing oil and gas fields and were operated by Romanian
state companies.
Blackstairs Energy plc applied for four of the Production Blocks on
offer. NAMR has advised that the company has been successful in its
bid for the SudurÄ?u field. Under the terms of the licencing
procedure and associated Concession Agreement, Blackstairs now has
exclusive rights to re-develop the field and restore it to commercial
production.
The Sudurau field is located in Satu Mare County of north-west
Romania, about 10 kilometres north-west of the town of Tasnad. Sudurau
is an oil field with associated natural gas and lies in the oil and
gas-rich Pannonian Basin. The Sudurau field lies close to Blackstairs'
five existing Pannonian Basin oil and gas fields, acquired in 2007
under the Eighth Round of Licencing.
Blackstairs, at NAMR's invitation, will now enter formal discussions
in order to finalise the terms of a Petroleum Concession Agreement for
SudurÄ?u. A period of several months is set aside by NAMR to
complete these formalities.
Blackstairs has proposed technical programmes of reservoir and
petroleum engineering studies and reprocessing of existing seismic
data. The company will also undertake well interventions in the
field's previously producing wells and the refurbishment of production
facilities and pipeline infrastructure. Environmental studies and
technology transfer projects will also be completed.
Romania is a significant oil and gas producer and has a well developed
oilfield infrastructure including an extensive pipeline network and
refining capacity.
Background Information
Blackstairs Energy plc is an Irish-registered energy company. The
company was founded in 2006 by Gerry Sheehan (Managing Director) and
Bob Hamilton (Finance Director). Mr. Sheehan is a geologist and
geophysicist and has over 27 years experience in the international oil
sector. Mr. Hamilton is a chartered accountant. Both directors have
previously held senior management positions in Tullow Oil plc.
Blackstairs Energy plc is the operator of Blocks 4, 5 and 6 in the
Republic of Armenia. These large blocks cover an area of almost 14,000
square kilometres; they are currently being actively explored and are
managed from the company's regional office in Yerevan, Armenia. In
2008, Blackstairs Energy secured exclusive rights to re-develop seven
onshore, formerly producing oil and gas fields in Romania. Five of
these fields are located in the Pannonian Basin in north-west Romania;
the other two fields are in the southern Romania.
In February 2009, Blackstairs Energy agreed a `Memorandum of
Understanding' with Pakistan Petroleum Ltd. This agreement will
facilitate the evaluation and acquisition of exploration, development
and production assets, in addition to the pursuit of new business
opportunities in Africa, greater Eastern Europe, the Caucasus region,
the Commonwealth of Independent States and Pakistan.
Further Enquiries
Blackstairs Energy plc
1 Bayswater Terrace
Greystones
County Wicklow
Republic of Ireland
Telephone: +353 1 2870787
For additional information please contact:
Gerry Sheehan
Telehone: +353 86 6085345
Email: [email protected]
Directors: Gerard Sheehan, Robert Hamilton, J.D.Scott
Registered Office: 11 Adelaide Road, Dublin 2
Company Registration Number: 424205
COMPANY ANNOUNCEMENT
ROMANIA, NINTH ROUND OF PETROLEUM LICENCING AWARD OF P1X-11 SUDURAU
FIELD
The National Agency for Mineral Resources (NAMR) has announced the
results of the Ninth Round of Licencing. Under the terms of the Round,
fourteen Production Blocks were offered to the industry on a
competitive bidding basis. The individual Production Blocks are over
formerly producing oil and gas fields and were operated by Romanian
state companies.
Blackstairs Energy plc applied for four of the Production Blocks on
offer. NAMR has advised that the company has been successful in its
bid for the SudurÄ?u field. Under the terms of the licencing
procedure and associated Concession Agreement, Blackstairs now has
exclusive rights to re-develop the field and restore it to commercial
production.
The Sudurau field is located in Satu Mare County of north-west
Romania, about 10 kilometres north-west of the town of Tasnad. Sudurau
is an oil field with associated natural gas and lies in the oil and
gas-rich Pannonian Basin. The Sudurau field lies close to Blackstairs'
five existing Pannonian Basin oil and gas fields, acquired in 2007
under the Eighth Round of Licencing.
Blackstairs, at NAMR's invitation, will now enter formal discussions
in order to finalise the terms of a Petroleum Concession Agreement for
SudurÄ?u. A period of several months is set aside by NAMR to
complete these formalities.
Blackstairs has proposed technical programmes of reservoir and
petroleum engineering studies and reprocessing of existing seismic
data. The company will also undertake well interventions in the
field's previously producing wells and the refurbishment of production
facilities and pipeline infrastructure. Environmental studies and
technology transfer projects will also be completed.
Romania is a significant oil and gas producer and has a well developed
oilfield infrastructure including an extensive pipeline network and
refining capacity.
Background Information
Blackstairs Energy plc is an Irish-registered energy company. The
company was founded in 2006 by Gerry Sheehan (Managing Director) and
Bob Hamilton (Finance Director). Mr. Sheehan is a geologist and
geophysicist and has over 27 years experience in the international oil
sector. Mr. Hamilton is a chartered accountant. Both directors have
previously held senior management positions in Tullow Oil plc.
Blackstairs Energy plc is the operator of Blocks 4, 5 and 6 in the
Republic of Armenia. These large blocks cover an area of almost 14,000
square kilometres; they are currently being actively explored and are
managed from the company's regional office in Yerevan, Armenia. In
2008, Blackstairs Energy secured exclusive rights to re-develop seven
onshore, formerly producing oil and gas fields in Romania. Five of
these fields are located in the Pannonian Basin in north-west Romania;
the other two fields are in the southern Romania.
In February 2009, Blackstairs Energy agreed a `Memorandum of
Understanding' with Pakistan Petroleum Ltd. This agreement will
facilitate the evaluation and acquisition of exploration, development
and production assets, in addition to the pursuit of new business
opportunities in Africa, greater Eastern Europe, the Caucasus region,
the Commonwealth of Independent States and Pakistan.
Further Enquiries
Blackstairs Energy plc
1 Bayswater Terrace
Greystones
County Wicklow
Republic of Ireland
Telephone: +353 1 2870787
For additional information please contact:
Gerry Sheehan
Telehone: +353 86 6085345
Email: [email protected]
Directors: Gerard Sheehan, Robert Hamilton, J.D.Scott
Registered Office: 11 Adelaide Road, Dublin 2
Company Registration Number: 424205