Providence Resources provides update regarding Porcupine basin operations


DUBLIN and LONDON -- Providence Resources, the Irish based Oil and Gas Exploration Company, today provides an operational update regarding Frontier Exploration Licence (FEL) 2/14 located in the southern Porcupine basin. FEL 2/14 is operated by Providence Resources plc (56%) on behalf of its partners Capricorn Ireland Limited (a wholly-owned subsidiary of Cairn Energy, 30%) and Sosina Exploration Limited (14%), collectively referred to as the JV Partners.

The JV Partners can now confirm that the Stena IceMAX deepwater drillship, which was used to drill the 53/6-1 exploration well in FEL 2/14, has now completed all requisite P&A operations. The drillship, which is now off hire, departed from the Druid Drombeg well site yesterday afternoon and is transiting back to Las Palmas, Gran Canaria.

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