Providence Captures Dragon Block

Providence confirmed that its wholly owned UK subsidiary, PR Singleton Limited, has been offered an exploration license over UK seaward block 103/1 in the St George's Channel Basin, offshore Wales. The offer was made by the UK Government's Department of Energy & Climate Change (DECC) following an out of round application by PR Singleton Limited (Operator, 50 percent) and Star Energy Oil & Gas Ltd (50 percent). The block contains the Dragon gas discovery.

Tony O'Reilly, Chief Executive of Providence, said, "We are very pleased to have been offered this UK block, which is adjacent to Irish license SEL 1/07 which Providence operates 100 percent. The Dragon gas discovery is mapped to lie within both the UK and Irish sectors and the award of this new block will allow Providence to move forward with the drilling of its planned appraisal well."