Monday, July 04, 2011
Providence Resources plc
Providence has, on behalf of itself and its partners, successfully completed the 3D seismic acquisition project over the Barryroe oil discovery ("Barryroe") in the North Celtic Sea, offshore Ireland. The partners believe that modern 3D seismic data, in tandem with modern well completions in the current high oil price environment, will be key components to unlocking value at Barryroe. This survey forms part of the planned pre-development drilling program on the Barryroe, where drilling is scheduled to commence in September utilizing the already contracted semi-submersible rig, the GSF ARCTIC III.
Providence operates Barryroe (50%) with partners San Leon Energy (30%) and Lansdowne Oil & Gas (20%).
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