Mediterranean Oil & Gas provide the results of an independent evaluation of Malta Offshore Area 4 (Area 4) currently owned 100% by MOG through its wholly owned subsidiary, Phoenicia Energy Company Limited (PECL). PECL entered into a farm-out agreement with Genel Energy Plc in August 2012 to sell 75% of PECL's interest in Area 4. This farm out is conditional on approval by the Maltese authorities, together with the grant of a minimum one year extension of the first exploration period of the Area 4 Production Sharing Contract.

Following the acquisition of 1,012 km2 of long offset 3D seismic data on Block 7 of Area 4, ERC Equipoise Ltd (ERCE) has carried out an independent review of the undiscovered hydrocarbons initially in place, Prospective Resources and the geological chance of success associated with Area 4.

Tags: Mediterranean Oil & Gas Plc