2nd PRODUCTION WELL COMMENCES
AT HIGH ISLAND A268
Providence Resources Plc, the AIM and IEX listed company, together
with the High Island A268 partners, is pleased to announce first
production from the A1 well at the High Island A268 development in
the Gulf of Mexico, offshore Texas. The A1 well was drilled in
January 2007, and its successful drilling result initiated the
fast-track development of High Island A268.
First production from the A1 well commenced on 9th September, and
comes shortly after the A2 well achieved first production last week.
With the AI and A2 wells both producing, the initial development
phase of High Island A268 is now complete.
Providence holds a 5% interest in High Island A268 and the field is
operated by Peregrine Oil and Gas LLC.
Contacts:
Providence Resources Plc Tel: +353 1 219 4074
Tony O'Reilly Jnr., Chief Executive
Powerscourt Tel: +44 (0)207 250 1446
Rory Godson/Elizabeth Rous
Murray Consultants Tel: +353 1 498 0300
Pauline McAlester
Notes to Editors
About Providence
Providence Resources Plc is an independent oil and gas exploration
company listed on the AIM market in London and on Dublin's IEX
market. The Company was founded in 1997, but with roots going back to
1981 when it predecessor company, Atlantic Resources Plc was formed
by a group of investors led by Sir Anthony O'Reilly.
Providence's active oil and gas portfolio includes interests in
Ireland (offshore), the United Kingdom (onshore and offshore), the
United States (offshore) and West Africa (offshore Nigeria).
Providence's portfolio is balanced between production, appraisal and
exploration assets, as well as being diversified geographically.
Comprehensive information on Providence and its oil and gas
portfolio, including all press releases, annual reports and interim
reports are available from Providence's website at
www.providenceresources.com
About High Island A 268
High Island A-268is located in the south central area of the Gulf of
Mexico. Partners in the High Island A-268 block include Peregrine
(Operator), Challenger Minerals Inc.(part of the GlobalSantaFe
Corporation), RP Joint Venture (which comprises Reeder, HRB Oil&
Gas), Pruet Offshore, Warren American Offshore, HDO Gulf Energy,and
Cottesloe Oil & Gas.
The A1 well, was drilled in the December 2006 through January 2007
period in 165 feet of water using the TODCO 207 jack-up drilling
unit. The well was drilled to a deviated total depth of 8,172 ft
TVDSS. The well was drilled on a Tertiary-aged gas-condensate target
with pre-drill most likely recoverable resource estimate of 10
BSCFE. The OCS-G 22268 A2 exploration well, was drilled in 165 feet
of water from the newly installed High Island A268 'A' platform using
the Todco 250 jack-up drilling unit.
The A2 well TD bottom hole location is approximately 1 mile east of
the A1 well discovery, announced in January 2007. Drilled to a
deviated total depth of 6,863 ft TVDrkb, the A2 well was targeting
new potential gas accumulations, with pre-drill gross recoverable
volumes estimated at between 3.5 to 5.8 BSCFG.
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