Enegi Offered Stake in Clare Basin
Rigzone Monday 14th February, 2011
Enegi has been offered a 100% interest in an Onshore Petroleum Licensing Option to undertake a work program on areas of interest within the Clare Basin. The Clare Basin is located onshore western Ireland and is within the same fault system trend as the prospects and discovery in the Company's Newfoundland regional play. The Option covers an area of approximately 495 sq. kilometers. 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 favorable for shale gas generation. Following completion of the work program, the Option enables the Company to apply for Exploration Licenses over all or part of the areas of i...
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