Repsol to Farm-In to Dunquin License

Providence Resources announced that Repsol will farm-in to Dunquin License 3/04 by acquiring a 25% interest from ExxonMobil and a 12.5% interest from Eni.

Following completion of this transaction, the partners in the license will consist of ExxonMobil (operator, 27.5), Eni (27.5%), Repsol (25%), Providence (16%) and Sosina (4%). The Dunquin license, spanning five blocks in the South Porcupine Basin, is located in 5,249 feet (1,600 meters) of water about 124 miles (200 kilometers) off the west coast of Ireland.  

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