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IN BRIEF: Advance Energy Pleased With Block Awards In Licensing Round

Fri, 04th Sep 2020 14:05

Advance Energy PLC - upstream oil & gas company - Wholly owned subsidiary Resolute Oil & Gas (UK) Ltd and Holywell Resources Ltd - in which Advance Energy has a 25% interest - has each been awarded a 50% working interest in block 43/25 and part-blocks 43/29, 43/30, 48/4 and 48/5 in the UK Oil & Gas Authority's 32nd Offshore Licensing Round.

Block 43/25 and part-blocks 43/29, 43/30, 48/4 and 48/5 contain undrilled gas prospects and are located in the southern North Sea and the pperator of the blocks is Holywell. Advance will hold a non-operated indirect 62.5% interest in the blocks.

Current stock price: 0.22 pence

Year-to-date change: up 38%

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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