Survey Begins at Providence’s Spanish Point Acreage (Ireland)

Providence Resources P.l.c. an Irish based oil and gas exploration company, has announced that site survey operations are about to commence on its Spanish Point acreage (FEL 2/04) in the Main Porcupine Basin, off the west coast of Ireland.

The work is being carried out by Chrysaor (Ireland) Ltd (‘Chrysaor’) on behalf of the Spanish Point co-venturers and is part of the preparations for the drilling of an appraisal well in 2013, subject to rig availability and regulatory consents. The operations are expected to finish in early September. The site survey is being undertaken from a single boat, the “Kommandor Stuart”.

Providence is currently the Operator of FEL 2/04 though recently agreed to transfer this role to Chrysaor. This change is subject to Irish government approval. Providence holds a 32% interest in FEL 2/04 with its partners Chrysaor (60%) and Sosina Exploration (8%).

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Press Release, August 29, 2012