Awarded in December 2008, the Pontenx Permit is located in south-west France on the southern margins of the Parentis Basin, an oil productive region on the west coast of France, and covers an area of 313 square kilometres. This licence contains the abandoned Mimizan Nord heavy oil field and a number of other high potential prospects with good oil shows and tests.

The licence has a 4 year term and the initial 2 year programme will comprise the reprocessing and interpretation of the existing seismic data, which is currently being conducted, a review of the rejuvenation potential of the Mimizan Nord field and detailed geological studies.

The Mimizan Nord field produced 3.5mmbls of 12 API oil from the Apto-Albian Cretaceous reefal limestone from 1960 to 1986. Various other wells on the blocks have yielded encouraging results, with a number testing oil at rates up to 250bopd.