Providence Resources Encounters Hydrocarbons at Barryroe

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The 48/24-10z Barryroe appraisal well is located in approximately 328 feet (100 meters) of water depth, around 31 miles (50 kilometers) offshore Ireland in Standard Exploration License (SEL) 1/11 in the North Celtic Sea Basin. Providence (80 percent) operates SEL 1/11 on behalf of its partner Lansdowne Oil & Gas (20 percent).

 

The original drilling timeline was initially set back by weather and later by rig performance issues which significantly delayed the drilling of the 12.25-inch section. Drilling of this section recommenced on Feb. 2, when the necessary rig repairs and maintenance programs were completed by the rig owner. The current well depth is 6,969 feet at the base of the 12.25-inch section, with all key geological horizons to date having been encountered in line with pre-drill depth prognosis.

 

Hydrocarbon shows were encountered during the drilling of the 12.25-inch section, which contains a number of potential secondary reservoir units. Preliminary real time LWD data demonstrates excellent sandstone package correlation with the nearby 48/24-3 well.

 

The forward program includes a comprehensive wire-line data acquisition program of this drilled 12.25-inch section, utilizing modern 'state of the art' down-hole tools, after which the section will be cased.

 

Subsequent operations will include coring of the underlying primary reservoir zone, which is the main focus of this drilling program. Following this, it is planned to carry out drill stem testing of the primary basal sands target in order to ascertain flow rates and productivity.

 

"The 48/24-10z preliminary well results indicate the presence of hydrocarbons within the secondary objective overlying our main basal sandstone target. We will evaluate and integrate these well data with our newly processed 3D seismic in order to fully assess its incremental resource potential," said Providence CEO Tony O'Reilly.

 

"Most importantly, operations to evaluate the underlying primary Barryroe reservoir objective have now commenced and we look forward to further updating shareholders once the drilling phase of the program has been completed."

Company: Providence Resources PLC	more info
- Cairn Strikes Spanish Point Farm-In Deal (May 7)  - Fastnet Awarded New Irish Licensing Option (May 3)  - Exxon Spuds Dunquin Well Offshore Ireland (Apr 23)

Company: Lansdowne Oil & Gas plc	more info
- Lansdowne All Smiles over Amergin Seismic Findings (Jan 17)  - Providence's Barryroe Oil Update Could Tempt Majors to Celtic Sea (Sep 5)  - Providence to Look for Possible Extension to Barryroe Oil Find (Aug 9)