Under an agreement concluded in November 1988, Marathon undertook to drill up to ten exploration wells in the period to end 1991. Of this number, five are obligation wells with the remainder being contingent on the identification of additional drillable prospects within Marathon's leased acreage.
As of 1 January 1991, Marathon have drilled four exploration wells and a further well is scheduled to be commenced shortly. My Department are in discussion with the company concerning the completion of the full programme. Of the wells drilled to date as a result of the 1988 agreement only one has been assessed so far as having located hydrocarbons capable of being commercially recovered. This was the 48/20-2 well which located the Ballycotton gas field. Development of this field is now underway and I anticipate its being brought on stream later this year.