Providence Hires TRNCO to Begin 3D Survey at Val Verde

Providence Resources, Inc. has engaged TRNCO Petroleum Corporation to implement an I/O System Two recording system in combination with the latest generation of acquisition and processing parameters to obtain high-quality 3D seismic data. The data is intended to illuminate deep gas targets at depths ranging from 14,000 to 16,000 feet in the Ellenberger carbonate, Strawn carbonate and Pennsylvanian-Wolfcamp sandstone reservoirs which underlie Providence's 12,832 acres of leasehold interests over 57 square miles in Val Verde County, Texas.

TRNCO will supervise the acquisition, processing, licensing and interpretation of all seismic data while Dawson Geophysical Company will be responsible for obtaining the actual 3D seismic data.

TRNCO, based in Midland, Texas, specializes in 2D, 2D swath and 3D seismic project design and management. TRNCO has provided geophysical project management services in North America, South America, Europe, the Middle East and Asia to clients ranging from small independent operators to major international participants in the oil and gas industry.

Dawson Geophysical Company is a leading provider of onshore seismic data acquisition and processing services that acquires and processes seismic data for major and independent operators in addition to providers of multi-client data libraries. Dawson operates two state-of-the-industry data processing centers in Houston and Midland, Texas, staffed by experienced geophysicists. Dawson's prior experience in the Val Verde Basin is expected to be of considerable benefit to Providence in acquiring reliable 3D seismic data.

Permitting, seismic data acquisition and interpretation is expected to require up to six months with plans for immediate drilling on the Val Verde leases anticipated immediately thereafter. Val Verde County has substantial gas gathering systems and pipeline infrastructure in place that will facilitate delivery of prospective production from the leases. Permitting for the work is expected to commence next week.

Additional updates on Providence's exploration and development activities will be provided as such information becomes available.


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