Providence Agrees Terms with Searcher for New Survey Offshore Ireland



Irish-based oil and gas exploration company, Providence Resources plc, has agreed terms with Searcher Seismic Pty Ltd for a new 3D seismic program in the southern Porcupine and Goban Spur basins, offshore south-western Ireland.

Scheduled to be acquired in summer 2016, the seismic program will cover the Newgrange exploration prospect which is located in Frontier Exploration Licence (FEL) 6/14. The Newgrange License is operated by Providence Resources, which holds an 80 percent interest, with Sosina Exploration Limited holding the remaining 20 percent interest.

John O’Sullivan, technical director of Providence, commented in a company statement:

“We expect, should this survey proceed as planned, that these new high resolution 3D data over our Newgrange prospect will confirm the potential within the Cretaceous section, which had been identified through the previous 2D seismic and facilitate future planning for the prospect. These new data should also allow us to evaluate the potential in the underlying vertically stacked Jurassic, where significant addition exploration prospectivity has also been identified.”



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