TItaly – 4 New Exploration Permits Awarded
The Company has been awarded 4 new Italian exploration permits. The new permits awarded to the Company’s wholly owned subsidiary Intergas Piu S.r.l. (IGP) are:
Villa Mazzarosa (MOG operator: 100%)
The Villa Mazzarosa permit comprises two gas discoveries namely Savini and Fonte Dell Olmo fields. These as yet undeveloped discoveries were drilled in the 1980’s with several gas levels producing on test up to 40,000 scm/d (1.4 mmscf/d). The appraisal of the Savini and Fonte Dell Olmo discoveries is a priority for the Company.
Serra dei Gatti (MOG operator: 100%)
The Serra dei Gatti permit is located onshore southern Italy in the area where IGP owns and operates the Torrente Celone and Masseria Petrilli production concessions. Also MOG’s production interests in Lucera and Masseria Acquasalsa are located in close proximity.
Villa Carbone (MOG operator: 50%, Gas Plus Italiana 50%)
Colle dei Nidi (Gas Plus Italiana operator: 65%;MOG 25%; Petrorep: 10%)
Villa Carbone and Colle dei Nidi are located onshore central Italy in the area where the Company owns and operates the Castel Di Lama production concession and the Acquaviva Picena and Guardia Vomano exploration permits.
The new permits cover a combined area of 287 square kilometres.
MOG will now complete environmental clearance studies for the new areas.
In parallel to the appraisal of Savini and Fonte Dell Olmo fields, MOG will conduct geological and geophysical studies on each of the other licences to better define a number of identified leads and prospects for gas targets.
The Company’s CEO, Sergio Morandi, said:
“With the acquisition of these new exploration permits we consolidate our portfolio of gas assets in areas where our Company’s experience in exploration and production gives us a distinct advantage. The proximity of MOG’s and its partners’ infrastructure to the new permits will clearly be advantageous to the Company’s operations.”