Italy Asset Overview

 
The Company  has interests in 19 licences (7 pending full award and 2 pending appeal) in Italy through its wholly-owned subsidiary Apennine Energy srl, most of which are operated. Licence details are as follows:
 

Licence
 
Status1
WI
(%)
Area
(km2)
Operator
Fonte San Damiano
Concession
100
23.7
Apennine Energy
Torrente Alvo
Permit
100
84.3
Apennine Energy
Carita
Permit
100
529.8
Apennine Energy
Badile
Permit
100
154.5
Apennine Energy
Sambucheto
Permit
95
147.6
Apennine Energy
Monteluro
Permit
95
364.9
Apennine Energy
Villa Gigli
Permit
50
110.9
Apennine Energy
Monte Negro
Permit
100
287.7
Apennine Energy
D150 DR-CS
Assigned Permit 2
100
65.2
Apennine Energy
D503 BR-CS
Assigned Permit
100
138.1
Apennine Energy
Colle Ginestre
Permit
50
86.6
CGI
Convento
Assigned Permit
50
412.8
Apennine Energy
Posta Del Giudice
Assigned Permit
50
113.6
Apennine Energy
Santa Maria Goretti
Assigned Permit
100
101.3
Apennine Energy
Solfara Mare
Assigned Permit
100
337.0
Apennine Energy
D148 DR-CS
Assigned Permit 2
100
63.1
Apennine Energy
Costa Del Sole
Assigned Permit
100
41.5
Apennine Energy
  
Rapagnano Assigned Concession
100
8.5
Apennine Energy
  
Montemarciano Permit                75             49.4 Apennine Energy  

 
Notes:
 
1 A Concession allows hydrocarbon production and is valid for thirty years. A Permit is valid for six years and allows seismic and drilling operations. An Assigned Permit requires an approved Environmental Impact Assessment to convert to a full permit. 
  
2 In August 2011 the Ministry of Economic Development in Italy withdrew Apennine Energy's Assigned Permits D148 DR-CS and D150 DR-CS from the application process to full permit status. This is in compliance with the environmental decree 128/1210 enacted in June 2010 which prevents oil and gas activity within 5 nautical miles of the Italian coast. Apennine is considering appealing against this decision through the relevant authority..