AzEire announces acquisition of Antrim Ireland

Ireland Coastline

HAMILTON, Bermuda – Wednesday, 16th November 2016:
AzEire Ltd. (“AzEire”), an Ireland focused oil and gas exploration company backed by Seacrest Capital Group, is pleased to announce that it has entered into an Agreement with Antrim Energy Inc. (“Antrim”) to acquire Antrim’s Ireland subsidiary, Antrim Exploration (Ireland) Limited (“Antrim Ireland”). Antrim Ireland owns modern 3D seismic data and associated analysis covering 1563km2 area including partial coverage of AzEire’s existing Ireland licence portfolio.

David Sturt, Managing Director of AzEire, commented: “The acquisition of Antrim Ireland increases AzEire’s 3D seismic data footprint in the North Porcupine area. Regional analysis, using such high-quality 3D seismic data, is an integral part of AzEire’s derisking process. The 3D seismic data and associated analysis secured by AzEire as part of this acquisition is highly complementary to AzEire’s existing database and will enhance and accelerate our understanding of this exciting proven petroleum province which is seeing a significant renaissance of interest from industry. The seismic data acquired also covers part of AzEire’s LO 16/17 licence.”

Paul Murray, Partner, Seacrest Capital Group, commented: “This is the latest step in Seacrest’s plan to build a significant independent exploration and production company offshore Ireland, which we consider one of the world’s high potential emerging oil and gas provinces. AzEire, along with all of the Seacrest exploration companies, is a patient and thorough explorer for oil and gas. AzEire has an extensive regional database and this transaction adds new footprint and valuable data to our technology-led model.”

irish wing