Providence Acquires Porcupine Basin 3D Seismic Data, Offshore Ireland

Providence Resources P.l.c. , the Irish oil and gas exploration and production company, whose shares are listed in London and Dublin, announces that it has, on behalf of itself and its partners, commenced operations for its 3D seismic acquisition project in Frontier Exploration Licence (FEL) 4/08 in the Porcupine Basin, off the west coast of Ireland.

Using a vessel supplied by Polarcus Limited, the c. 200 km2 3D survey is expected to run for approximately 15 days. Providence operates FEL 4/08 (32%) on behalf of its partners, Chrysaor E&P Ireland Limited (60%) and Sosina Exploration Limited (8%).

About Providence

Providence Resources Plc is Irish based oil and gas exploration and production company listed on AIM (London) and ESM (Dublin). Providence’s portfolio includes extensive licence interests in Ireland (offshore), the U.K. (onshore and offshore) and West Africa (offshore Nigeria). Providence recently announced a multi-year, multi-well offshore drilling campaign to cover the six basins in which the Company has licence interests offshore Ireland. Providence and partners plan to invest upwards of $500 million in the drilling of 10 exploration and development wells, with first drilling planned to commence later in 2011. This programme represents the largest drilling campaign ever carried out offshore Ireland.

[mappress]
Source: Providence, July 21, 2011;  Image: Polarcus