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
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