Exploration firm granted extensions

ISLAND OIL & GAS, the technology-led independent exploration and production company, has been granted licensing extensions to its options at the Seven Heads and Rosscarbery - both located in the Celtic Sea.

Island has a 12.5% interest in Seven Heads and a 22% stake in Rosscarbery.

Meanwhile, Ramco Energy has raised £750,000 (€1.09 million) to fund its Irish exploration assets.