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Providence Resources set for summer seismic shoot at Newgrange

As farm-out talks continue, Providence is advancing the Newgrange prospect with a seismic programme as a precursor to a future exploration well.
Providence Resources set for summer seismic shoot at Newgrange
Exploration drilling is planned

Providence Resources PLC (LON:PVR) has updated investors on it exploration plans for the Newgrange project, off Ireland’s West Coast.

The Newgrange exploration partners have now hired Gardline to carryout a new 2D seismic data gathering programme, to examine the crest of the prospect and to provide additional data to support permitting for a future exploration well.

It is expected that Gardline’s M/V Kommandor vessel will conduct the data acquisition programme during the third quarter of this year, subject to regulatory consent.

WATCH: Providence keen to move ‘aggressively’ on Barryroe

In the meantime, Providence highlighted that it is continuing commercial talks with potential farm-in partners for the exploration project.

"We are pleased to announce the award of the 2018 Newgrange data acquisition programme to Gardline and look forward to commencing operations during the summer months,” said Dr John O’Sullivan, Providence technical director.

“The Newgrange prospect provides significant stacked exploration potential at both Jurassic and Cretaceous levels with proven source, reservoir and seal demonstrated in the previous off-structure 62/7-1 exploration well.”

O’Sullivan added: “The relatively shallow nature of the reservoir intervals also means that this data acquisition programme may provide even further insight to de-risk the potential presence of hydrocarbons within the subsurface prior to drilling."

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