StockMarketWire.com - Oil company Advance Energy said subsidiary Resolute Oil & Gas and 25%-owned and Holywell Resources had each been awarded interests in blocks in the Southern North Sea by UK authorities.
Resolute and Honeywell had each won a 50% working interest in block 43/25 and part-blocks 43/29, 43/30, 48/4 and 48/5 in the Oil & Gas Authority's 32nd offshore licensing round.
The blocks were operated by Holywell, so Advance Energy would hold a non-operated indirect 62.5% interest in the blocks.
Chief executive Leslie Peterkin said Advance Energy was looking forward to working with Holywell to assess the blocks' potential.
At 1:54pm: [LON:ADV] share price was +0.04p at 0.21p
Story provided by StockMarketWire.com
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