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UK-based Hurricane Energy sold 50% stake in the Lincoln and Warwick licences, west of Shetland, to Spirit Energy. The project would reportedly reveal initial reserves of half a billion barrels. To further explore the potential of an area holding an estimated 2 billion barrels of oil, Spirit will invest £139 million to drill three wells. Spirit will become the new GWA licence operator, post successful drilling during 2019 and 2020.
