The Dragon Licence is situated in about 90m water depth and is located approximately 40km offshore Ireland.
The licence contains the mapped extension of the UK Dragon gas discovery into Irish waters, as well as the deeper Orpheus and Pegasus exploration prospects.
The option agreement provides for Star to acquire a non-operated 50% interest in the Dragon Licence in return for carrying out a number of subsurface studies on the Dragon gas discovery.
Should Star subsequently exercise this option, it will participate in the drilling of the planned appraisal/development well on the Dragon discovery.
