Providence Spuds Hook Head Well Offshore Ireland

Providence Resources has commenced drilling operations on its multi-well drilling program on Standard Exploration License 2/07 in the North Celtic Sea Basin, offshore southern Ireland.

Using the Transocean semisubmersible GSF Arctic II, drilling operations on the initial Hook Head appraisal well (50/11-4) commenced on August 5. Following completion of this well, a further appraisal well, (50/6-4), is planned to be drilled on the nearby Dunmore oil accumulation, located approximately 20 kilometers to the north of the Hook Head oil accumulation.

It is anticipated that the multi-well drilling program will take up to 3 months, which includes a provision for a comprehensive wireline logging and testing program.

Tony O'Reilly, Chief Executive of Providence said: "We are extremely pleased to announce the commencement of drilling operations in the Celtic Sea. This is a very exciting time for Providence and its shareholders and we look forward to the outcome of this multi-well/multi-project drilling program.”

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