8 November 2006
Providence Resources P.l.c. ("Providence" or the "Company")
SUCCESSFUL CONCLUSION
OF SEISMIC SURVEYS, OFFSHORE IRELAND
Providence is pleased to announce the successful conclusion of its
seismic acquisition programme in the Celtic Sea and St. Georges
Channel area, offshore Ireland. The programme, first announced on 15
September, 2006 was carried out by Gardline Surveys Limited utilising
the MV Sea Surveyor. In total, approximately 1,000 kms of high
quality data was acquired in the period 10 October 2006 through to 6
November 2006.
Specifically, 286 kms of 2-D data was acquired over Pegasus, a large
exploration structure in the St. Georges Channel, 369 kms of 3-D data
was acquired over the Ardmore gas discovery and 279 kms over the Hook
Head oil and gas discovery. As announced on 26 October 2006, Ocean
Bottom Seismic (OBS) was successfully deployed over the Blackrock oil
discovery.
Commenting on today's announcement, Tony O'Reilly Jnr, Chief
Executive of Providence Resources P.l.c. said:
"This successfully concludes Providence's major seismic acquisition
programme offshore Ireland in 2006.
"Providence and its partners have now acquired a total of over 3,000
kms of high quality seismic data over the 4 operational areas of
Dunquin, Goban Spur, the Celtic Sea and the St. Georges Channel area.
"The seismic data is being processed and reviewed. The results will
provide us with additional information and allow us to finalise the
Company's 2007 operational activities, including drilling".
Contacts:
Providence Resources P.l.c.
Tony O'Reilly Jnr., Chief Executive Tel: + 353 (1) 2194074
Powerscourt Media
Victoria Brough Tel: +44 (0) 207 236 5622
Murray Consultants
Pauline McAlester Tel: + 353 (1) 498 0300
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 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;
* Award of Goban Spur Licencing Option with ExxonMobil & Sosina
(announced November 1st 2006)
* Blackrock Update - OBS (announced October 26th 2006
* Interim Results (announced September 27th 2006)
* Secures Rig Slot for 2007 (announced September 25th 2006);
* Gardline Geosurveys Ltd Survey (announced September 15th
2006);
* 20% Farm-out Deal agreed with CMI on Celtic Sea Licences
(announced September 5th 2006);
* Completion of Dunquin Seismic (announced August 8th 2006);
* 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);
* ¤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
---END OF MESSAGE---
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.