Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Providence Resources technical director to update on Dunquin South prospect

A presentation will be given at the American Association of Petroleum Geologist's European Regional Conference in Lisbon this morning
offshore oil platform
Providence has 26.84% of Eni operated FEL 3/04

Providence Resources PLC (LON:PVR) has told investors that technical director Dr John O’Sullivan will present a paper regarding Frontier Exploration Licence (FEL) 3/04, in the Atlantic margin, off Ireland’s west coast.

FEL 3/04 includes the undrilled Lower Cretaceous "Dunquin South" carbonate exploration prospect, and is adjacent to the area which hosted the previously drilled Dunquin North well.

Providence has a 26.84% stake in FEL 3/04 which is operated by ENI and also includes partners Repsol and Sosina. The presentation is due to be uploaded to the company’s website.

READ: Providence Resources keen to move ‘aggressively’ on Barryroe

It is one of a number of exploration areas held by Providence in Ireland’s Atlantic waters, a region that’s increasingly seen as a ‘hot spot’ for new potentially high impact exploration.

Last year, Providence took part in a drill programme albeit it didn’t unearth a discovery and it is anticipated that new wells are being planned by explorers in the region, drilling is likely to start in 2019.

In the Celtic Sea, meanwhile, the company recently secured a partnership agreement with a Chinese consortium which will see the Barryroe oil field advance to development and ultimately production.

At Barryroe, the next phase of appraisal drilling is expected to kick off in 2019.

View full PVR profile View Profile

Providence Resources PLC Timeline

Related Articles

Offshore oil operations
April 03 2018
United is growing its oil and gas business through relatively low-risk assets in Europe, meanwhile, big-bang exploration offshore Jamaica could prove to be a game changer
1529690386_shutterstock_298329077-001.jpg
June 22 2018
The firm is focused on assets with upside potential in Texas and New Mexico - notably in the Permian basin, a huge producing area for oil and gas
gas
April 16 2018
"Our annual independent updated reserves report reinforces the potential of our quality and well positioned asset base in China,” said chairman Randeep Grewal

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use