Providence Resources has completed a technical assessment of the Kish Bank Basin in Licensing Option 08/2, containing the Dalkey Island exploration prospect, and have elected to proceed with exploratory drilling.
The company recently applied to have Licensing Option 08/2 converted into a Standard Exploration License, by committing to a future work program that will include the drilling of one exploration well. As part of these activities, the partners have moved forward with the application process for a foreshore license over the area in order to carry out well site survey and drilling operations.
The operator also commissioned a third party geochemical study on residual oil samples from a nearby well, which has confirmed the presence of a mature Paleozoic marine oil prone source rock in the Kish Bank Basin.
The Dalkey Island prospect is located in the Kish Bank Basin, offshore eastern Ireland in 82 feet (25 meters) of water. Providence holds an operated 50% equity interest in the License Option 08/2, together with partner Star Energy, a subsidiary of Petronas.
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