UK Licence Farmout Conclusion.

Comtrack’s two UK registered subsidiaries Simwell Resources Limited and Comtrack (UK) Ltd have concluded a farm-out agreement for three UK 28th Round licences P2254, P2256 and P2300 with Ardent Oil Limited. Simwell and Comtrack (UK) Ltd will earn a 40% and a 10% interest respectively, whilst Ardent will retain 50% interest and continue as Licence Administrator. The three licences cover blocks 37/26, 36/27, 37/28a, 37/29a, 43/3a, and 43/4a in the UK sector of the Southern North Sea.

Comtrack has now build a substantial portfolio of licenses in the UK’s Southern North Sea areas, focusing on gas exploration and production. The licenses held by Simwell Resources Ltd and Comtrack (UK) Ltd are summarised on the map which can be viewed on Simwell's website.