The Board of Mediterranean Oil & Gas is pleased to announce the following operational update related to the Company's activities.
◾ Acquisition of new exploration opportunity offshore Malta in July:
◾ 40% working interest in the Exploration Study Agreement ("ESA") for offshore Malta Area 3 (Blocks 1, 2 and 3) ("Area 3")
◾ Partner with Capricorn Malta Ltd (W.I. 60%, Operator), a subsidiary of Cairn Energy PLC ("Cairn")
◾ Located north of Malta in the Sicily Channel covering an area of approximately 6,400 km2 and containing a number of prospective leads
◾ Development of Aglavizza Concession progressing:
◾ Final investment decision on the development of Civita 1 approved
◾ First gas expected late 2015 at 18,000 to 20,000 scm/d net MOG