Shoal Point Energy has been granted an extension on an exploration license.
The company was told by license holders Ptarmigan Energy and Black Spruce Exploration that a drilling deposit has been filed with the Canada-Newfoundland Labrador Offshore Petroleum Board with an agreement to extend Period I of EL 1120 by one year.
Under an amended farmout agreement with Ptarmigan Energy, Shoal Point Energy has the right to earn an 80% working interest in a portion of EL 1120 by drilling and testing a target within the Humber Arm Allochthon.
This test well must now be spudded by January 15, 2016.
Read more Oil and Gas news here.
Recommended for you
