According to PA Resources, the German licence is prospective at similar levels to the other successful discoveries and to other nearby fields in Denmark and the northern Netherlands, specifically Jurassic sandstone, Cretaceous chalk and Miocene sandstone. Under the terms of the farmout, Danoil partially carry PA Resources costs to obtain extensive 3D coverage over the licence and adjacent areas.

President and CEO of PA Resources Bo Askvik commented “We are delighted to welcome Danoil into our German licence. Danoil is a supportive partner in our Danish Licence and we look forward to jointly developing similar prospectivity in the adjacent German portion of the basin. Our strategy is to effectively explore the basin without regard to the national boundary, which does not reflect any notable change in geology or prospectivity.”