Licences B.R 270 and B.R 271 are 144,500 hectares and 327,100 hectares respectively, and will run for six years from the date of award, the company said.
Petroceltic holds 100% of the permits, but Orca Exploration Group will have an option to earn a 15% stake in them through a 2010 farm-in agreement, subject to regulatory approval.
Studies of 2D geophysical data had already revealed a number of prospects and leads on the permits, the company said, with plans for acquiring new geophysical data for possible future exploration drilling were in the offing.
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