The area of the two blocks together is approximately 213sq km, and the licence currently contains one well that recovered oil on test and three main prospects in the Jurassic Fulmar and Paleocene Forties sands.
Cirrus will hold 30% equity and the license will be operated by MPX North Sea (40%) with partner Sorgenia E&P (30%).
There are five other leads at Jurassic and Lower Cretaceous levels, and the only firm commitment is seismic reprocessing, followed by a one-well drill or drop decision to be made within two years, Cirrus said.
