Enegi announced that it has extended Period I of Exploration Licence EL1116, western Newfoundland for a period of 12 months. As per the announcement of December 23, 2013 a drilling deposit of $250,000 has been paid by Black Spruce Exploration (BSE) to the Canada-Newfoundland Offshore Petroleum Board (C-NLOPB). This has extended the initial five year licence period (Period I) for EL1116 by a further 12 months.

This is in advance of the drilling programme which is planned to take place on the licence in 2014 targeting the St George's Bay prospect. On completion of the well, under the terms of the licence, EL1116 will enter Period II and will then be valid for a further three years following the end of this extended 12 month period. The well on EL1116 will be drilled, by BSE, following the anticipated successful drilling at the Garden Hill Field (GHF) which is expected to commence in April.

The St George's Bay prospect is expected to be drilled from onshore to offshore to delineate the offshore extent of the Garden Hill hydrothermal dolomite trend.