Providence Resources P.l.c., (“Providence”) the Irish oil and gas exploration and appraisal company, whose shares are listed in London (AIM) and Dublin (ESM), is pleased to confirm that drilling activities have now commenced on the 44/23-1 Dunquin exploration prospect in Frontier Exploration Licence (FEL) 3/04, off the west coast of Ireland.
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 P.l.c. (16.0% interest) and Sosina Exploration Limited (4.0% interest). Drilling operations are expected to take several months to complete using the Eirik Raude semi-submersible drilling unit.
Commenting on this news, Tony O’Reilly, Chief Executive of Providence said:
“We are pleased to confirm that drilling operations on the Dunquin exploration well have now commenced. This is a landmark well given that it is the first to be drilled in the central part of the deep-water southern Porcupine Basin and is designed to test a new and potentially material Lower Cretaceous carbonate exploration play concept. The 44/23-1 well is the second of six wells being drilled as part of Providence’s Irish concerted multi-basin, multi-well drilling programme which kicked off in November 2011 with the Barryroe appraisal well. ”