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:
Footpaths sealed off, awaiting bomb disposal team
Town set for two-day music event
McGuinness’s TT Fireblade replica is strictly limited
Road closures announced for Peel's Viking boat races
More information submitted on statue lighting over bat concerns
Brewery makes appeal after pub furniture stolen
TT course shut after lunchtime crash
Northern landmark reopens to traffic
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