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Oyster Petroleum farms in to UK Central North Sea licence

Oyster Petroleum announces that it has recently entered into a farm-in agreement whereby, in exchange for covering certain well costs on drilling, Oyster Petroleum will acquire a 25% interest in licence P.1948, covering blocks 29/7c, 12, 13 and 14 in the UK Central North Sea. The P.1948 licence is operated by Endeavour Energy UK Limited, with further Joint Venture partners Faroe Petroleum (U.K.) Limited and First Oil and Gas Limited, and includes the Shipley and Forwood prospects.