Enegi said it petitioned the Irish Petroleum Affairs Department to look for natural gas in the Clare Basin.
The company in 2011 started examining geological data related to the reserve potential in the basin. In November, the company said it determined that geological characteristics of the Clare Basin meant it was a prospective shale natural gas reserve.
"We believe the acreage covered by the Clare Basin option is highly prospective," Enegi Chief Executive Officer Alan Minty said in a statement.
"With this in mind and with the need to carry out further exploration work over the area, we have applied to the PAD to convert our option into an Exploration license which will allow us to carry out this work and to further prove up the potential that we believe this acreage holds."
Enegi said it believes the area may contain 1.49 trillion cubic feet-3.86 trillion cubic feet of natural gas.
The company didn't provide an estimate on when it expected a decision from the Irish government.