Gardline mobilizes for survey over Providence’s Irish prospect

Mobilization of Gardline’s Kommandor vessel to conduct a new seismic survey over Providence Resources’ Newgrange prospect, located off the south-west coast of Ireland, has started ahead of schedule. 

The Newgrange Prospect is located in Frontier Exploration Licence (FEL) 6/14 which is operated by Providence Resources on behalf of its partner Sosina Exploration Limited (20%).

The license is situated in c. 1,000 m water depth being c. 260 km off the south-west coast of Ireland.

Following  a contract award for the survey to Gardline and the Kommandor vessel in May, Providence informed on Monday, June 18 that the Kommandor survey vessel has started mobilization in advance of the planned acquisition of data suitable for input to an application for the permitting of an offshore exploration well.

Providence said back in May that Gardline would carry out the data acquisition during the third quarter of 2018.

Commercial discussions in relation to a potential farm-out of equity in the license to third parties are continuing, Providence added on Monday.

Dr John O’Sullivan, Technical Director of Providence, said, “We are pleased to confirm the commencement of the Newgrange site survey operations some two months ahead of schedule. In tandem with these operations, we continue to liaise with interested potential co-venture partners whilst also constantly monitoring possible rigs of opportunity which may become available for this exciting exploration venture.”