New 2-D seismic data to be acquired over Dunqui...
6th July 2006
New 2-D seismic data to be acquired over DUNQUIN Prospect
Providence Resources Plc ('Providence'), as Operator, is pleased to
announce that, together with its partners ExxonMobil Exploration and
Production Ireland (Offshore) Limited, an ExxonMobil subsidiary, and
Sosina Exploration Limited, it has agreed to exclusively license over
1,500 km of 2-D long offset seismic data over the Dunquin prospect
from Fugro Data Surveys AG. This is the first time long offset 2-D
seismic technology, which should significantly improve subsurface
imaging, has been deployed in the Porcupine Basin.
Commenting on the survey, Tony O'Reilly jnr., Chief Executive of
Providence Resources P.l.c. said:
"The award of this contract is a major milestone for Providence and
its partners. This is the largest prospect specific 2-D seismic
survey ever carried out offshore Ireland. Utilising the very latest
technology, the results of this seismic programme will allow the
partners to better define the future work programme on the Dunquin
Prospect."
Contacts:
Providence Resources P.l.c.
Tony O'Reilly jnr., Chief Executive Tel: + 353 (1)
667 5740
Powerscourt Media
Victoria Brough Tel:
+44 (0)207 236 5622
Murray Consultants
Paulline McAlester Tel: +
353 (1) 498 0300
Notes to Editors:
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 UK (onshore and offshore) and West Africa
(offshore Nigeria). Providence's portfolio is balanced between
production, appraisal and exploration assets, as well as being
diversified geographically.
Recent corporate announcements include; Annual General Meeting
Statement (announced on June 20th, 2006), Annual Results (announced
on May 17th, 2006), Dunquin Farm-out to ExxonMobil (announced on
February 13th, 2006), a ¤50 million Revolving Credit Finance Facility
with Macquarie Bank (announced on February 2nd, 2006) and increased
production at its Singleton oilfield (announced March 7th, 2006).
Comprehensive information on Providence and its oil and gas
portfolio, including its 2005 AIM Admission document, 2005 Annual
Report, Interim Report 2005 and recent press releases are available
from Providence's website at www.providenceresources.com
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