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Providence Resources - Dunquin South Licence Update - 2019 Work Programme & Budget Approved

Posted by OilVoice Press - OilVoice

14-Nov-2018


Providence Resources P.l.c. (PVR LN, PRP ID), the Irish based Oil & Gas Exploration Company (“Providence” or the “Company”), today provides a licence update on Frontier Exploration Licence (“FEL”) 3/04 located in the southern Porcupine Basin.  FEL 3/04 is operated by Eni Ireland BV (36.913%) on behalf of its partners, Repsol Exploracion Irlanda SA (33.557%), Providence Resources P.l.c. (26.846%) and Sosina Exploration Limited (2.684%), collectively referred to as the “FEL 3/04 Partners”.  The licence contains the undrilled Lower Cretaceous “Dunquin South” carbonate exploration prospect as well as the adjacent “Dunquin North” carbonate build-up, which hosts a residual oil column. 

Having completed the interpretation of the newly acquired 3D seismic data, the FEL 3/04 Partners have now approved the 2019 Work Programme & Budget to include the acquisition of a well site survey over the Dunquin South prospect.

Commenting today, Tony O'Reilly, Chief Executive Officer of Providence Resources said:

“We are very pleased to confirm that the Dunquin partners have approved the budget for the acquisition of a well site survey over Dunquin South, which is a prerequisite for the drilling of an exploration well on this high impact exploration prospect. We look forward to keeping all stakeholders updated on the forward plans for this licence.”

Providence ResourcesDunquin SouthLicenseIrelandPorcupine BasinEni Ireland

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