Petra Petroleum selected for exploration licence in Greece

7/24/2013

Petra Petroleum selected for exploration licence in Greece

VANCOUVER, BRITISH COLUMBIA -- Petra Petroleum has been selected as preferred bidder for the Ioannina contract area under the Greece open door invitation process for hydrocarbon exploration rights.

The Petra Petroleum has joined with Energean for the award of the Ioannina contract Area, a 4,187 sq km onshore block, located in north western Greece, adjacent to the Albanian border. The licence participants are Energean 80% and Operator and Petra Petroleum 20%, together with Schlumberger as strategic technical partner.

The Petra Petroleum and Energean are planning to conduct a seismic work programme to evaluate both deep and shallow prospects in order to confirm a suitable location for exploration drilling.

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