Providence lines up well off eastern Ireland

Offshore staff

DUBLIN, IrelandProvidence Resources and its partner Star Energy Group have committed to drill a well on the Dalkey Island exploration prospect offshore eastern Ireland.

The location is in the Kish Bank basin, 10 km (6.2 mi) offshore in 25 m (82 ft) water depth. Both companies have a 50% interest in the surrounding Licensing Option 08/2 (LO 08/2).

Recently they applied for a conversion to a Standard Exploration License by committing to a future work program that includes drilling of one exploration well.

As part of this program, they have begun the application process for a foreshore license over the area in order to perform well site survey and drilling operations.

Providence also commissioned a geochemical study on residual oil samples from a nearby well which has confirmed the presence of a mature Paleozoic marine oil- prone source rock in the Kish Bank basin.

John O’Sullivan, the company’s technical director, said the findings were “as a similar interval is considered to be the source for the prolific producing oilfields in the Liverpool Bay Area, offshore UK.”

09/22/2011



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