PROVIDENCE RES. Providence Resources P.L.C. : Licence Update Frontier Exploration Licence 2/14 Southern Porcupine Basin

 
TIDMPVR 
 
 
   THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION 
 
 
 
   LICENCE UPDATE 
 
   FRONTIER EXPLORATION LICENCE 2/14 
 
   SOUTHERN PORCUPINE BASIN 
 
 
 
 
 
 
   -- CLOSING OF FARM-OUT FOR THE ASSIGNMENT OF EQUITY & TRANSFER OF 
      OPERATORSHIP IN FEL 2/14 TO TOTAL 
 
 
 
 
   Dublin and London - July 13, 2017 - Providence Resources P.l.c. (PVR LN, 
PRP ID), the Irish based Oil and Gas Exploration Company, provides a 
Licence Update on Frontier Exploration Licence ("FEL") 2/14. 
 
 
 
   Providence is pleased to confirm that, having received approval from the 
Minister of State at the Department of Communications, Climate Action 
and Environment, the farm-out comprising the assignment of equity (35%) 
and transfer of operatorship of FEL 2/14 to TOTAL E&P Ireland B.V. 
("TOTAL"), a wholly owned subsidiary of TOTAL S.A., has now completed. 
FEL 2/14 contains the undrilled Diablo prospect as well as the drilled 
Druid & Drombeg prospects. 
 
 
 
   The equity in FEL 2/14 is now TOTAL (Operator - 35%), Capricorn (30%), a 
wholly owned subsidiary of Cairn Energy PLC, Providence Resources P.l.c. 
(28%) and Sosina Exploration Limited (7%). 
 
 
 
 
 
 
 
 
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 
 
Mirabaud Securities Limited             Tel: [phone] 
Peter Krens 
 
MEDIA ENQUIRIES 
Powerscourt                             Tel: [phone] 
Peter Ogden 
 
Murray Consultants                      Tel: [phone] 
Pauline McAlester 
 
 
 
 
 
 
 
 
   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 at 
providenceresources.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

July 13, 2018 02:00 ET (06:00 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.