Ophir Energy Plc Mexico Licence Award (7080D)

TIDMOPHR

RNS Number : 7080D

Ophir Energy Plc

02 February 2018

2nd February 2018

Ophir Energy plc

("Ophir")

Mexico Licence Award

Ophir is pleased to announce that, together with its joint venture partners, it has been awarded Block 10 and Block 12 as part of the Mexico offshore bid round 2.4. Both of these licences are located in the Ridges basin, which features a proven hydrocarbon system and material prospectivity. The licence awards are subject to final approval from the Mexican authorities.

The Block 10 partnership is comprised of Repsol (operator), Petronas and Ophir (20% interest). The block covers an area of 2,000 km(2) in water depths between 500m and 2,000m.

The Block 12 partnership is comprised of Petronas (operator), PTTEP and Ophir (20% interest). The block covers an area of 3,000 km(2) and is in water depths between 1,500m and 2,000m.

The partners have already identified multiple leads and prospects on the existing data within what is a prolific, proven hydrocarbon province.

Ophir Energy CEO, Nick Cooper, said:

"The addition of Blocks 10 and 12, to our existing position in Block 5, establishes Ophir as a significant acreage holder in the Mexican Ridges and Sureste Basins. Since the recent opening of the Mexican offshore to foreign investment, the first two exploration wells to have been drilled have both resulted in significant oil discoveries. These two awards add high impact exploration in a world class hydrocarbon system to Ophir's exploration portfolio."

For further enquiries, please contact:

Ophir Energy plc + 44 (0) 20 7811 2400

Geoff Callow, Head of IR and Corporate Communications

Brunswick (PR Adviser to Ophir) + 44 (0) 20 7404 5959

Patrick Handley

Wendel Verbeek

About Ophir:

Ophir Energy is an independent Upstream oil and gas exploration and production company. It is listed on the London Stock Exchange (LEI: 213800LAZOZTKPAV258).

This information is provided by RNS

The company news service from the London Stock Exchange

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February 02, 2018 02:00 ET (07:00 GMT)