PROVIDENCE RES. Providence Resources P.L.C. - Frontier Exploration Licence 3/04 - Dunquin South, Porcupine Basin

 
TIDMPVR 
 
 
   THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION 
 
   FRONTIER EXPLORATION LICENCE 3/04 
 
   DUNQUIN SOUTH, PORCUPINE BASIN 
 
 
   -- PARTNERS APPROVE 2019 WELL SITE SURVEY BUDGET 
 
 
 
 
   Dublin and London - November 13, 2018 - Providence Resources P.l.c. (PVR 
LN, PRP ID), the Irish based Oil & Gas Exploration Company ("Providence" 
or the "Company"), today provides a licence update on Frontier 
Exploration Licence ("FEL") 3/04 located in the southern Porcupine 
Basin.  FEL 3/04 is operated by Eni Ireland BV (36.913%) on behalf of 
its partners, Repsol Exploracion Irlanda SA (33.557%), Providence 
Resources P.l.c. (26.846%) and Sosina Exploration Limited (2.684%), 
collectively referred to as the "FEL 3/04 Partners".  The licence 
contains the undrilled Lower Cretaceous "Dunquin South" carbonate 
exploration prospect as well as the adjacent "Dunquin North" carbonate 
build-up, which hosts a residual oil column. 
 
   Having completed the interpretation of the newly acquired 3D seismic 
data, the FEL 3/04 Partners have now approved the 2019 Work Programme & 
Budget to include the acquisition of a well site survey over the Dunquin 
South prospect. 
 
   Commenting today, Tony O'Reilly, Chief Executive Officer of Providence 
Resources said: 
 
   "We are very pleased to confirm that the Dunquin partners have approved 
the budget for the acquisition of a well site survey over Dunquin South, 
which is a prerequisite for the drilling of an exploration well on this 
high impact exploration prospect. We look forward to keeping all 
stakeholders updated on the forward plans for this licence." 
 
 
 
 
INVESTOR ENQUIRIES 
Providence Resources P.l.c.              Tel: [phone] 
Tony O'Reilly, Chief Executive Officer 
Dr. John O'Sullivan, Technical Director 
 
Cenkos Securities plc                    Tel: [phone] 
Neil McDonald/Derrick Lee 
 
J&E Davy                                 Tel: [phone] 
Anthony Farrell 
 
Mirabaud Securities Limited              Tel: + 44 20 3167 7221 
Peter Krens 
 
MEDIA ENQUIRIES 
Powerscourt                              Tel: [phone] 
Peter Ogden 
 
Murray Consultants                       Tel: [phone] 
Pauline McAlester 
 
   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. 
 
   ABOUT PROVIDENCE RESOURCES 
 
   Providence Resources is an Irish based Oil & Gas Exploration Company 
with a portfolio of appraisal and exploration assets located offshore 
Ireland.  Providence's shares are quoted on the AIM in London and the 
ESM in Dublin. Further information on Providence can be found on 
www.providenceresources.com 
 
   This announcement is distributed by West Corporation on behalf of West 
Corporation 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

November 13, 2018 02:00 ET (07:00 GMT)

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