Island OIl & Gas secures funding for two-well campaign off southern Ireland
Offshore staff
(Dublin) Energy investment group Platinum Petroleum has agreed a strategic investment of up to £21 m with Island Oil & Gas, subject to regulatory and shareholder approvals. The money will be used by Island in part to finance the cost of wells in the Celtic Sea off southern Ireland, in the Seven Heads West Sub-Area, and on the Old Head of Kinsale prospect.
The agreement will also give Island access to new exploration and production opportunities in North and West Africa.
