Ireland: Providence Commences Dunquin Well Activities

February 13, 2012

Providence Resources P.l.c., the London (AIM) and Dublin (ESM) quoted oil and gas exploration and production company, confirms the forward programme for Frontier Exploration Licence (FEL) 3/04, which contains the Dunquin exploration prospect.

ExxonMobil Exploration and Production Ireland (Offshore) Limited (27.5% interest) operates FEL 3/04 on behalf of its partners, Eni Ireland B.V. (27.5% interest), Repsol Exploracion Irlanda, S.A. (25% interest), Providence Resources Plc (16.0% interest) and Sosina Exploration Limited (4.0% interest).

Following a recent meeting, the 2012 budget was approved by all partners which includes the provision for well design activities and procurement of long lead items as part of the ramp up to the drilling of an exploration well on the Dunquin prospect next year. The current plan is to spud the exploration well in 2Q 2013.

Commenting on this news, Tony O’Reilly, Chief Executive of Providence said,

“We are extremely pleased to confirm that the pre-drill activities for the Dunquin exploration well have commenced and that a spud date has now been scheduled. This well forms an important part of Providence’s Irish multi-basin, multi-well drilling programme which kicked off in November 2011. ”

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Subsea World News Staff , February 13, 2012; Image: Providence