PROVIDENCE RES. Providence Resources P.L.C. - Operational Update - Frontier Exploration Licence 6/14 - Newgrange

 
TIDMPVR 
 
 
   THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION 
 
   OPERATIONAL UPDATE 
 
   FRONTIER EXPLORATION LICENCE 6/14 
 
   NEWGRANGE 
 
 
   -- MOBILISATION OF GARDLINE'S M/V KOMMANDOR COMMENCED AHEAD OF SCHEDULE 
 
   -- EXPLORATION WELL SITE SURVEY TO BE ACQUIRED OVER THE NEWGRANGE PROSPECT 
 
   -- COMMERCIAL DISCUSSIONS WITH POTENTIAL THIRD PARTY FARMINEES CONTINUE 
 
 
 
 
   Dublin and London - June 18, 2018 - Providence Resources P.l.c. (PVR LN, 
PRP ID), the Irish based Oil & Gas Exploration Company, today provides 
an update on Frontier Exploration Licence ("FEL") 6/14 that contains the 
Newgrange Prospect.  FEL 6/14 is operated by Providence Resources 
P.l.c., on behalf of its partner Sosina Exploration Limited (20%), 
collectively referred to as the Newgrange Partners, and is situated in 
c. 1,000 m water depth being c. 260 km off the south-west coast of 
Ireland. 
 
   The Newgrange Partners can confirm that Gardline's M/V Kommandor survey 
vessel has commenced mobilisation in advance of the planned acquisition 
of data suitable for input to an application for the permitting of an 
offshore exploration well.  The Newgrange Partners can also confirm that 
commercial discussions in relation to a potential farm-out of equity in 
the licence to third parties are continuing. 
 
   Speaking today, Dr John O'Sullivan, Technical Director of Providence 
said, 
 
   "We are pleased to confirm the commencement of the Newgrange site survey 
operations some 2 months ahead of schedule.  In tandem with these 
operations, we continue to liaise with interested potential co-venture 
partners whilst also constantly monitoring possible rigs of opportunity 
which may become available for this exciting exploration venture." 
 
 
 
 
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: [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

June 18, 2018 02:00 ET (06:00 GMT)

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