PROVIDENCE RES. Providence Resources P.L.C. : Commercial Update - Frontier Exploration Licence 2/14 - Exclusive Option

 
TIDMPVR 
 
 
   THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION 
 
   Commercial Update 
 
   Frontier Exploration Licence 2/14 
 
   Exclusive Option 
 
 
   -- RECEIPT OF FINAL OPTION PAYMENT FROM TOTAL 
 
 
   Dublin and London - September 29, 2017 - Providence Resources P.l.c. 
(PVR LN, PRP ID), the Irish based Oil and Gas Exploration Company, today 
provides a commercial update on the Exclusive Option (the "Option") 
entered into with TOTAL E&P IRELAND B.V. ("TOTAL") and as announced on 
June 7, 2017.  Pursuant to the terms of the Option, Providence and 
Sosina can confirm receipt of US$ 6.75 million (US$ 5.40 million to 
Providence), being the second and final Option payment. 
 
 
 
 
INVESTOR ENQUIRIES 
 
Providence Resources P.l.c.             Tel: [phone] 
Tony O'Reilly, Chief Executive Officer 
 
Cenkos Securities plc                   Tel: [phone] 
Neil McDonald/Derrick Lee 
 
J&E Davy                                Tel: [phone] 
Anthony Farrell 
 
MEDIA ENQUIRIES 
 
Powerscourt                             Tel: [phone] 
Lisa Kavanagh/Peter Ogden 
 
Murray Consultants                      Tel: [phone] 
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. 
 
   ABOUT TOTAL 
 
   Total is a global integrated energy producer and provider, a leading 
international oil and gas company, and a major player in solar energy 
with SunPower and Total Solar. Our 98,000 employees are committed to 
better energy that is safer, cleaner, more efficient, more innovative 
and accessible to as many people as possible. As a responsible corporate 
citizen, we focus on ensuring that our operations in more than 130 
countries worldwide consistently deliver economic, social and 
environmental benefits. total.com 
 
   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 29, 2017 02:01 ET (06:01 GMT)

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