Providence to Assess Development Feasibility Offshore Ireland

Providence Resources has agreed to work with Unmanned Production Buoy Limited to assess a development feasibility study for the Helvick oil field in the North Celtic Sea Basin, offshore Ireland. Providence is considering a minimal facility, unmanned production buoy system. The Helvick field is located in Standard Exploration License 2/07 and is situated some 25 miles (40 kilometers) off the south coast of Ireland in 262 feet (80 meters) of water. Providence serves as the operator, holding a 72.5% interest; Atlantic Petroleum holds 18.3%; and Sosina Exploration holds 9.2%.

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