Our current exploration licence at BNG runs to 6 June 2015. As we have already discovered oil deposits we are able to extend the exploration licence to allow up to a further 4 years for appraisal. We do however expect to apply for a full production licence from June 2017..
Between now and June 2017 we plan to drill a further 10 deep wells. The income from sales of oil from the earlier wells would help fund later wells. The principal purpose of these wells is to provide the data required to allow the levels of P1 and P2 reserves to be maximized before the commencement of a full production licence in June 2017.
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