OilVoice - Sussex Energy Acquires 100% Equity in Two UK Central North Sea Licences

Sussex Energy Acquires 100% Equity in Two UK Central North Sea Licences

Tuesday, January 15, 2008

Sussex Energy has completed the acquisition of UK Central North Sea blocks 22/1b and 30/19b, and has received BERR consent for both transfers with effective date of 31 December 2007.

Sussex Energy, a wholly-owned, UK subsidiary of Bermuda-based Enovation Resources, now becomes an accredited UK offshore operator and holds 100% equity in both blocks.

Nigel Platt, Commercial Director of Sussex Energy in London, said, ‘This acquisition represents another important strategic step for the company. Together with Enovation Resources, Sussex is committed to exploring for and producing hydrocarbons on the UK Continental Shelf. We see significant and immediate potential in both blocks and will be pursuing early drilling opportunities.’

‘We are very pleased that the Sussex Energy team has clearly demonstrated the benefit of their presence within the Group by accelerating our North Sea entry and in such a material way,’ commented Diz Mackewn, CEO of Enovation Resources.