Drombeg Prospect Suggests Large Deep-water Fan System

Irish explorer Providence Resources reported Tuesday that an initial evaluation of fast-track 3D seismic data acquired over its Drombeg prospect offshore southwest Ireland has revealed seismic morphologies that are consistent with those of a large deep-water fan system.

The data also suggests that the Drombeg fan, situated in Frontier Exploration Licence 2/14, is being sourced from the Porcupine Bank via discrete sediment feeder systems. In addition, an initial review of the seismic gathers during data processing has also confirmed anomalous Class II AVO (amplitude versus offset) behavior within the prospect, Providence said.

Further seismic interpretation work is continuing on the fast-track 3D volume and the main interpretation, mapping and seismic attribute analysis work will be completed on the final migrated 3D volume, which is due to be received at the end of April.

Providence Technical Director John O'Sullivan commented in a company statement:

"We are providing this market update on these very initial observations from the Drombeg 3D survey given that Polarcus are making a presentation on this survey today at the APPEX Global 2015 Conference in London. Whilst much further work remains to be carried out, we are obviously encouraged by these initial results, which appear to validate our previous work. Given its considerable prospective resource potential, the Drombeg project has already attracted expressions of interest from a number of major international oil companies and we plan to hold prospect presentations later in the year once a comprehensive data analysis has been completed."


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