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Antrim Energy “very pleased” with Kosmos prospect inventory offshore Ireland

Last updated: 03:37 12 Dec 2014 EST, First published: 04:37 12 Dec 2014 EST

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Antrim Energy (LON:AEY) told investors that partner Kosmos Energy has identified and verified prospects within the Skellig Block, offshore Ireland.

Kosmos, with the benefit of new 3D seismic, identified three prospects as wells as several leads already seen by Antrim’s team previously.

Ongoing analysis by Kosmos aims to risk and rank the prospects by the end of the first quarter of next year.

"We are very pleased with the quality of the 3D seismic data and the evaluation completed so far,” said chief executive Anthony Potter.

“These results support our continuing effort to de-risk the Irish Skellig Licence and create significant value for shareholders."

Antrim added that it intends to update a prior resource report, produced for the company by McDaniel & Associates Consultants, to incorporate the latest Kosmos findings.

The original report, released in July, estimated the Skellig block could potentially contain as much as 4.5bn barrels of oil equivalent.

McDaniel assessed 17 identified leads and put potential resources between 260mln (low estimate) and 4.5bn (high estimate) barrels – with a ‘best’ estimate of 1.1bn barrels.

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