Gas deposits in Manx waters have potential to add to the Island's economy.
Data collected from previous studies has been re-analysed - indicating scope for private sector investigations.
The Department of Economic Development will hold a licensing round and issue hydrocarbon licenses to extract it.
It's something which has been promoted at this week's EAGE Conference and Exhibition in Madrid to try and attract investment.
Director of energy policy Ken Milne says there's been some interest:
Tynwald to return this morning after summer break
Less than a week left to have your say on 20mph limits in middle and west of Island
Repair works to start on Peel Power Station today
Wildlife Park needs animal team assistants
Mountain Road reopens after weeks of work
Petition wants to ban pet shock collars
M&S to unveil new look tomorrow
Western fireworks display rescheduled
