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Aurora Energy Offered Block in 14th Onshore Licensing Round Awards

Source: 8/19/2015, Location: Europe

Aurora Energy Resources Limited (AER) has been advised it will be offered a block in the first tranche of the 14th Landward Licensing Round. The block is located in the vicinity of Blackburn, Lancashire and in combination with AER's existing PEDL164 licence increases the company's position in the core of the Bowland Shale exploration area to 200 km2 (50,000 acres).

The Bowland Shale is Europe's leading resource opportunity with an estimated 1,329 trillion cubic feet of gas in-place. AER's acreage in the Bowland Shale lies immediately adjacent to that held by Cuadrilla Resources.

AER has also applied for further licences in the 14th Round within areas not covered by today's awards. Licences in these areas will be included in a second tranche of awards expected later in the year.

Managing Director Ian Roche said:
"We are delighted with this new award which has significantly strengthened our position in the Bowland Shale exploration area.

Technical results to date in the Bowland Shale look very promising and we look forward to being involved in the further appraisal of what is widely expected to be Europe's first commercially developed shale gas province"

"Clearly, we are at a very early stage in this project, with the award of any licence covering this block not expected until after the Oil and Gas Authority's consultation on potential second tranche offers. Aurora is committed to exploring safely and with due regard to the amenity of local residents and to the environment and will liaise fully with local authorities, regulatory bodies and community groups ahead of any exploration activities on the block."

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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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