PROVIDENCE RES. Providence Resources P.L.C. - Operational Update - Frontier Exploration Licence 2/14 - Southern Porcupine Basin
September 26 2017 - 2:00AM
UK Regulatory
TIDMPVR
OPERATIONAL UPDATE
FRONTIER EXPLORATION LICENCE 2/14
SOUTHERN PORCUPINE BASIN
-- COMPLETION OF 53/6-1 DRILLING PROGRAMME
-- DE-MOBILISATION OF THE STENA ICEMAX DRILLSHIP FROM IRELAND TO LAS PALMAS
Dublin and London - September 26, 2017 - Providence Resources P.l.c.
(PVR LN, PRP ID), the Irish based Oil and Gas Exploration Company (the
"Company"), today provides an operational update regarding Frontier
Exploration Licence ("FEL") 2/14 located in the southern Porcupine
Basin. FEL 2/14 is operated by Providence Resources plc (56%) on behalf
of its partners Capricorn Ireland Limited (a wholly owned subsidiary of
Cairn Energy PLC, 30%) and Sosina Exploration Limited (14%),
collectively referred to as the "JV Partners".
The JV Partners can now confirm that the Stena "IceMAX" deep-water
drillship, which was used to drill the 53/6-1 exploration well in FEL
2/14, has now completed all requisite P&A operations. The drillship,
which is now off hire, departed from the Druid Drombeg well site
yesterday afternoon and is transiting back to Las Palmas, Gran Canaria.
INVESTOR ENQUIRIES
Providence Resources P.l.c. Tel: +353 1 219 4074
Tony O'Reilly, Chief Executive Officer
Cenkos Securities plc Tel: +44 131 220 9771
Neil McDonald/Derrick Lee
J&E Davy Tel: +353 1 679 6363
Anthony Farrell
MEDIA ENQUIRIES
Powerscourt Tel: +44 207 250 1446
Lisa Kavanagh/Peter Ogden
Murray Consultants Tel: +353 1 498 0300
Pauline McAlester
ABOUT PROVIDENCE RESOURCES Plc
Providence Resources Plc is an Irish based Oil and Gas Exploration
Company with a portfolio of appraisal and exploration assets located
offshore Ireland. The Company's shares are quoted on AIM in London and
the ESM in Dublin.
ANNOUNCEMENT
This announcement has been reviewed by Dr John O'Sullivan, Technical
Director, Providence Resources P.l.c. John is a geology graduate of
University College, Cork and holds a Masters in Applied Geophysics from
the National University of Ireland, Galway. He also holds a Masters in
Technology Management from the Smurfit Graduate School of Business at
University College Dublin and a doctorate in Geology from Trinity
College Dublin. John is a Chartered Geologist and a Fellow of the
Geological Society of London. He is also a member of the Petroleum
Exploration Society of Great Britain, the Society of Petroleum Engineers
and the Geophysical Association of Ireland. John has more than 25 years
of experience in the oil and gas exploration and production industry
having previously worked with both Mobil and Marathon Oil. John is a
qualified person as defined in the guidance note for Mining Oil & Gas
Companies, March 2006 of the London Stock Exchange.
Definitions in this press release are consistent with SPE guidelines.
SPE/WPC/AAPG/SPEE Petroleum Resource Management System 2007 has been
used in preparing this announcement.
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Providence Resources plc via Globenewswire
http://www.providenceresources.com/html/
(END) Dow Jones Newswires
September 26, 2017 02:00 ET (06:00 GMT)
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