Antrim Energy has gained full ownership status by the Department of Natural Resources of Irish assets they previously co-owned with Kosmos Energy.

Kosmos Energy pulled out of the project last year.

The firm told investors that it now has full ownership and control of Frontier Exploration Licence (FEL) 1/13.

Confirmation of Antrim's 100% interest in FEL 1/13 comes after Ireland’s successful offshore licensing round, which has seen leading blue chip oil companies move in and take new acreage.

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Companies such as Exxon, Statoil, BP and China's CNOOC (via Nexen) have recently been awarded new exploration interest offshore Ireland as part of the process.

The company added that the initial term of the FEL runs until July 2016, and has submitted a request the first exploration for two further years.

Antrim is now seeking a new exploration partner and project operator to complete any additional technical work required during the possible extension period.

(CD)