Providence Wins Exploration Licenses Offshore Ireland

Providence Resources P.l.c. said Tuesday that Ireland's Minister for Communications, Marine and Natural Resources has granted Providence and its partners offshore two petroleum exploration licenses.

Standard Exploration License 1/07 has been granted over part blocks No's. 41/25, 42/21, 41/30, 42/26 and 51/1 in the St. George's Channel Area and License 2/07 has been granted over part blocks 49/8, 49/9, 49/13, 49/14, 49/18, 49/19, 50/6, 50/7, 50/11, and 50/12 in the Celtic Sea Area.

License No. 1/07 is a successor license to Licensing Option 03/7, which contains the "Pegasus" and "Dionysus" prospects.

License No. 2/07 is a successor license to Licensing Option 03/8, which contains the following oil and gas discoveries, "Hook Head," "Ardmore," "Helvick" and "Dunmore."

Providence's active oil and gas portfolio includes interests in Ireland (offshore), the UK (onshore and offshore), the Gulf of Mexico (USA) and West Africa (offshore Nigeria).

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