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:
Chance to help name baby gibbon!
Could you help name a rare gibbon at the Wildlife Park?
Drug dealer to appeal asset seizure
A drug dealer serving a 20-year sentence will be back in court later this month as he appeals a court decision on seizing the proceeds of his crimes.
Government withholds cinema pay figures
The government won't reveal how much it pays the person who books movies for the Broadway Cinema in Douglas.
Ramsey camper area to open tomorrow
Ramsey commissioners say a campervan area will open tomorrow.
Airport admits flights story IS true
Ronaldsway airport has confirmed an airline is to remove weekend flights - after initially saying the news was untrue.
Egaming licence suspended during criminal investigation into company
An egaming firm has had its licence suspended as a criminal investigation takes place.
School toilet CCTV broke law, says data commissioner
Two Island high schools have been told to turn off CCTV in their toilets.
Government set to raise air passenger duty
Travelling through the airport could be about to get more expensive - if Tynwald approves changes to air passenger duty.
