Determining to what level there are hydrocarbons in Manx territorial waters is somewhat of a 'premature' issue.
That's according to the Department of Economic Development which is currently looking for someone to undertake a 3D seismic study to provide further data.
It's estimated that there is around a 90 per cent probability of gas deposits which could generate revenue of around £100 million.
Minister John Shimmin says work to explore the idea will come at little cost to government:
New laws for young workers come into force today
New government regulations strengthening protections for children in part-time work have come into force today, Wednesday, April 1.
Manx Care extends mental health service to more surgeries
Manx Care's announced it's expanding a new mental health service to nine more GP practices.
Bus Vannin confirms normal services to run over Easter
Bus Vannin says services will be running as normal during the Easter weekend.
Steam Packet's new Northern Irish route launches today
The Steam Packet's officially launched its new Northern Irish route.
Creamery reassures milk buyers over price rise
Isle of Man Creamery has moved to reassure customers over the price of its milk.
April fool - did you get caught this morning?!
The Isle of Man's seen its fair share of online pranks this morning.
Tea room shuts its doors for good
A tea room in the west of the Island has announced it's closed down.
Milk up more than 5p a pint from today
The price of milk has risen by almost twice the rate of inflation today.
