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Providence Awarded Standard Exploration Licence 2/11

Source: www.gulfoilandgas.com 12/2/2011, Location: Europe

Providence Resources P.l.c., (Providence) the London (AIM) and Dublin (ESM) listed oil and gas exploration and production company, is pleased to announce that it has been awarded Standard Exploration Licence 2/11 in the Kish Bank Basin, offshore Dublin by the the Irish Department of Communications, Energy and Natural Resources. The Licence, which is a successor authorisation to the previous Licence Option 08/2, has been granted for a period of up to six years, and is split into 2 three year phases.

The Licence contains the Dalkey Island exploration prospect and the partners have committed to the drilling of at least one well during the first phase. The partners have recently commenced the application process for a foreshore licence over the area in order to carry out well site survey and drilling operations. Providence holds a 50% interest in the Licence and operates on behalf of its partner Star Energy.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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