Providence Resources P.l.c., the Irish based Oil and Gas Exploration Company, 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 PLC, 30%) and Sosina Exploration Limited (14%), collectively referred to as the "JV Partners". The licence contains the Paleocene "Druid", Lower Cretaceous "Drombeg" and pre-Cretaceous "Diablo" prospects.
The JV Partners have contracted the Stena "IceMAX" deep-water drillship to drill the 53/6-A (Druid & Drombeg) exploration well in FEL 2/14. Following the granting of a safety permit in respect of Well Work activities for Providence's Well Work Safety Case and Stena's Non-Production Safety Case from the Commission for Energy Regulation, the IceMAX has now mobilised from its base in Las Palmas, Gran Canaria with a current expected time of arrival (ETA) at the planned 53/6-A well location of July 3rd.
A further operational update will be provided once the actual drilling operations have commenced, which is subject to final Ministerial consent from the Department of Communications, Climate Action and Environment (DCCAE).
