Providence Preparing for Dalkey Island Drilling (Ireland)

Providence Resources an Irish based offshore oil and gas exploration and production company, has been awarded a Foreshore Licence (“Licence”) over an area in the Kish Bank Basin, offshore Dublin.

The Licence was awarded by the Foreshore Unit of the Irish Department of Environment, Community and Local Government.

This Licence permits the carrying out of a 2D seismic programme, a well site survey as well as the drilling of an exploration well on the Dalkey Island prospect, located within Standard Exploration Licence 2/11. Providence holds a 50% interest in SEL 2/11 which it operates on behalf of itself and its partner, PSE Seven Heads Limited, a wholly owned subsidiary of PETRONAS. In 2011, a commitment was made to drill an exploration well in SEL 2/11 subject to the granting of a suitable Licence. Providence will now advance procurement activities for a site survey vessel and drilling unit to drill the Dalkey Island prospect.