UK 32nd Offshore Licensing Round Update

Talon Petroleum Ltd Company has been offered three Licence Areas as part of the UK 32nd Offshore Licensing Round (Licensing Round). Talon has noted the award on the UK Oil and Gas Authority’s (OGA) website and has not yet received official confirmation of the awards from OGA. Through the Licensing Round, the OGA has awarded 113 licences to 65 different companies, demonstrating the strong interest in the Licensing Round and appetite for exploration in the UK North Sea.

Consistent with Talon’s UK North Sea strategy, the bidding process identified areas with strong exploration potential, and which could be acquired with low cost work program commitments. Talon will provide further updates on the Licence awards and its UK North Sea Strategy as the formal process proceeds with OGA.