Azinor Catalyst has signed an agreement with Xcite Energy Resources plc, a wholly owned subsidiary of Xcite Energy Limited, to acquire a 40% working interest in Licence P.1979, containing Blocks 9/4a, 9/8b and 9/9h in the UKCS.

Under the terms of the agreement, Catalyst will undertake a detailed technical evaluation of the Licence area to more accurately delineate and appraise the prospects identified by Xcite Energy. After the technical evaluation has been completed, and subject to approval from the Secretary of State for Energy and Climate Change, Catalyst will hold a 40% working interest in the Licence.

Tags: AziNor Catalyst, Xcite Energy