Providence Resources provides an update on Standard Exploration Licence (SEL) 1/11 which contains the Barryroe oil field, operated by Providence Resources (80%) on behalf of its partner Lansdowne Oil & Gas (20%). The area lies in c. 100 meter water depth in the North Celtic Sea Basin off Co. Cork, Ireland.
The Barryroe partners have been granted around 180 km2 increase in the areal extent of SEL 1/11 by the Minister of State, at the Department of Communications, Energy & Natural Resources for the first phase of the exploration licence and subject to further work program commitments to be undertaken by the Barryroe partners. This increase in the area of SEL 1/11 recognizes potential field extensions of Barryroe to the south and south-east.
John O’Sullivan, Technical Director of Providence, said: “The granting of an increase in the areal extent of SEL 1/11 recognizes the potential significant volumetric upside that exists at Barryroe. The structural closure as mapped now appears to extend further to the south and south-east, however no wells have been drilled as yet to confirm any such extensions to the field area.”
Press Release, February 18, 2014; Image: Providence