PRD Energy Inc. announced that it has been awarded the Sittensen Exploration Licence covering approximately 85,000 acres in Germany. The license is located onshore in the state of Lower Saxony, Germany and has been awarded to PRD Energy GmbH, a wholly-owned subsidiary of the company. The company also holds the Volkensen Production Licence which is within the boundaries of the Sittensen Exploration Licence.

The licence is awarded for an initial period of five years and includes all rights surface to basement. This licence has a history of previous production within its boundaries. Pursuant to the terms of the licence, PRD is committed to bringing at least two wells onto production within the initial five year term.

The award of this licence is subject to the review and approval by various municipal and state government authorities.