Providence Announces Barryroe Well Update (Ireland)

Lansdowne Oil & Gas plc, the AIM listed oil and gas exploration company, received the announcement today of the technical update by Providence Resources plc (“Providence”) on the successful Barryroe appraisal well 48/24-10z in the North Celtic Sea. Lansdowne has a 20% interest in the Barryroe project.

The announcement by Providence as operator stated the following: ”Permeability analysis of side wall cores carried out by Corelab over the basal oil bearing interval in the recent 48/24-10z Barryroe appraisal well has now been completed. These analyses have confirmed average reservoir permeability in the basal oil bearing reservoir sands of c. 600 mD, confirming the high productivity nature of this reservoir interval as observed during well testing operations. In addition, analysis of cores from overlying secondary reservoir sands, which were logged as hydrocarbon bearing in the 48/24-10z well, has demonstrated permeabilities of up to c. 100 mD. These secondary sands are thinly developed at the 10z well location but they thicken significantly to the west, where previous logging by a previous operator shows porosities of up to c. 30% (ref. Esso-operated 48/23-1 Barryroe well.)”

Third party micro-paleontological studies have now revealed the presence of a significant marine flooding surface within the lower part of the Wealden section, confirming that the environment of deposition had more of a marine influence than previously considered. Log motif analysis also shows that the deposition of the basal oil bearing sand may have been in a distributary channel setting as part of a broad delta plain which would support the evidence of marine influence.

Speaking today, John O’Sullivan, Technical Director of Providence said, “It is pleasing to note that the post well analysis from Barryroe keeps on getting better. The results of the sidewall core analysis are very positive as they confirm the high productivity nature of the main oil bearing basal reservoir interval. The permeability data from the overlying secondary reservoirs is welcome news as previously we had no information as to their potential productivity. These sands are now likely to add further resource potential to Barryroe. The evidence for marine influence in the lower part of the Wealden is consistent with the previous Esso-Marathon core analysis, which suggested the basal reservoir interval to have been deposited in a delta plain setting. With the completion of these post well studies, in conjunction with all the other post well works that have now been carried out, we look forward to providing a revised resource update for Barryroe later this summer.”

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Subsea World News Staff , June 21, 2012; Image: Providence