PRD Energy Inc. announced that it has been awarded the Schwarzenbek Exploration License covering approximately 175,000 acres. The license is located in the state of Schleswig-Holstein, and is within the Northwest German Basin. The license has been awarded to PRD Energy GmbH, a wholly-owned subsidiary of the company.

The Schwarzenbek license is awarded for an initial period of five years and includes all rights surface to basement. Pursuant to the terms of the license, PRD is committed to drilling three exploration wells within the initial five year term. The award of this license is subject to the review and approval by various municipal and state government authorities in Germany.