Providence Commences 3D Seismic Survey in The P...
Embargo: 7:00am
20 July 2011
PROVIDENCE COMMENCES 3D SEISMIC SURVEY IN THE PORCUPINE BASIN ADJACENT TO
SPANISH POINT AND BURREN DISCOVERIES
Providence Resources P.l.c., ("Providence") the Irish oil and gas exploration
and production company, whose shares are listed in London (AIM) and Dublin
(ESM), is pleased to announce that it has, on behalf of itself and its partners,
commenced operations for its 3D seismic acquisition project in Frontier
Exploration Licence (FEL) 4/08 in the Porcupine Basin, off the west coast of
Ireland. Using a vessel supplied by Polarcus Limited, the c. 200 km2 3D survey
is expected to run for approximately 15 days. Providence operates FEL 4/08 (32%)
on behalf of its partners, Chrysaor E&P Ireland Limited (60%) and Sosina
Exploration Limited (8%).
Contacts:
Providence Resources Plc Tel: +353 (0)1 2194074
John O'Sullivan, Technical Director
Powerscourt Tel: +44 (0)207 250 1446
Rob Greening
Murray Consultants Tel: +353 (0)1 498 0300
Pauline McAlester
Cenkos Securities Plc Tel: +44 (0)207 397 8900
Adrian Hargrave/Nick Wells
J&E Davy Tel: + 353 (0)1 679 6363
Stephen Barry/Eugenee Mulhern
EXPLANATORY NOTES
About Providence
Providence Resources Plc is Irish based oil and gas exploration and production
company listed on AIM (London) and ESM (Dublin). Providence's portfolio includes
extensive licence interests in Ireland (offshore), the U.K. (onshore and
offshore) and West Africa (offshore Nigeria). Providence recently announced a
multi-year, multi-well offshore drilling campaign to cover the six basins in
which the Company has licence interests offshore Ireland. Providence and
partners plan to invest upwards of $500 million in the drilling of 10
exploration and development wells, with first drilling planned to commence later
in 2011. This programme represents the largest drilling campaign ever carried
out offshore Ireland. Comprehensive information (press releases and Company
reports) are available at www.providenceresources.com.
About Polarcus
Polarcus is a pure play marine geophysical company with a pioneering
environmental agenda, specializing in high-end towed streamer data acquisition
from Pole to Pole. Polarcus is launching a fleet of modern 3D seismic vessels
using the innovative ULSTEIN X-BOW® design and incorporating advanced maritime
technologies for improved operational efficiency with a reduced environmental
footprint. Polarcus offers contract seismic surveys and multi client projects
worldwide and has its principal office in Dubai, United Arab Emirates. For more
information, visit www.polarcus.com
About This Announcement
This announcement has been reviewed by John O'Sullivan, Technical Director,
Providence Resources P.l.c. John holds a B.Sc. in Geology from University
College Cork, Ireland, an M.Sc. in Applied Geophysics from the National
University of Ireland, Galway and a M.Sc.in Technology Management from The
Smurfit School of Business at University College Dublin. John is presently
working part-time on a PhD dissertation at Trinity College, Dublin. John has
worked in the offshore business for 20 years and is a fellow of the Geological
Society of London. Definitions in this press release are consistent with SPE
guidelines.
SPE/WPC/AAPG/SPEE Petroleum Resource Management System 2007 has been used in
preparing this announcement
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Providence Resources plc via Thomson Reuters ONE
[HUG#1532178]
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