Providence Resources PLC
06 October 2005
6th October 2005.
Providence Resources P.l.c. ('Providence')
Providence completes West Lennox appraisal well
Providence Resources Plc announces the completion of the UK110/14c-6(F) well on
the West Lennox oilfield. This well, in which Providence holds a 10% equity
interest, was drilled in 15-metres of water in the East Irish Sea Basin off the
coast of Liverpool. The well, which was operated by Challenger Minerals (North
Sea) Limited, was spudded on September 18th 2005 as an appraisal well to further
delineate the extent of the West Lennox oilfield.
The rig operations have now been completed and the Noble Lynda Bossler jack-up
drilling unit has been released. Challenger Minerals has imposed tight-hole
confidential status on the well, due to commercial sensitivities. The well
results are presently being evaluated in relation to the future development of
the field.
In addition to West Lennox, the operator is preparing an exploration programme
for the evaluation and potential drilling of the adjacent Crosby prospect on
this licence in 2006. This Triassic Sherwood sandstone prospect is thought to
contain approximately 15 MMBOE REC.
Contacts:
Providence
Tony O'Reilly Jnr. Chief Executive Tel: +353 1 667 5740
Powerscourt Tel: +44 (0) 207 236 5615
Victoria Brough / Sorrel Beynon
Murray Consultants Tel: +353 1 498 0300
Pauline McAlester
www.providenceresources.com
NOTES TO EDITORS
About West Lennox
Licence P.099 comprises the West Lennox oil discovery and the Crosby oil/gas
exploration prospect. The licence is located in block 110/14d & 110/14c in the
East Irish Sea Basin, a prolific hydrocarbon province.
The partners in the project are:
Challenger Minerals (North Sea) Limited - 25%
P/F Atlantic Petroleum -25%
DYAS UK Limited - 20%
First Oil EXPRO Limited - 20%
Providence Resources - 10%
About Crosby
The Crosby prospect is a dip and fault closed exploration prospect located in
block UK110/14d to the east of the Hamilton gas field complex. The structure has
been mapped on 3D seismic data and in common with the Hamilton & Lennox fields,
the main reservoir objective are sands of the Lower Triassic Sherwood Sandstone
formation.
As with a number of discoveries in the area, amplitude anomalies have been
observed on the top of the structure, which are postulated to be associated with
hydrocarbon presence. Mapping to date suggests that the Crosby prospect could
contain approximately 15 MMBOE REC.
The partnership is planning to carry out seismic reprocessing and mapping of the
existing 3D data prior to any future drilling activity on the prospect. As part
of the farm-in arrangement, Burlington Resources, the previous licensee holds an
option to back into a 20% interest in the Crosby exploration prospect following
the drilling of the first well.
About Providence Resources
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.
Comprehensive information on Providence and its oil and gas portfolio, including
the AIM Admission document and Annual Report 2004 are all available from
Providence's website at www.providenceresources.com
This information is provided by RNS
The company news service from the London Stock Exchange
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