Byron Energy Limited advises that Byron Energy Inc, a wholly owned subsidiary of the Company, was the high bidder on a block in the Central Gulf of Mexico Lease Sale 235 held in New Orleans on March 18, 2015.
Byron was the high bidder on Eugene Island Block 18 ('EI 18') in the Eugene Island Area of the Outer Continental Shelf in 10 feet of water, approximately 50 miles (81 kilometres) south of Morgan City, Louisiana.
The final award of this lease is subject to approval by the Bureau of Ocean Energy Management. The total bid amount payable to the BOEM will be $US32,223, assuming the BOEM awards the lease to Byron.
The EI 18 block will add a new project to Byron's existing portfolio of projects in the shallow waters of the GOM, inboard of Byron's existing projects and adjacent to Louisiana State Waters. EI 18 will be subjected to enhanced seismic reprocessing techniques in the future, assuming final award by the BOEM.