Irish well approaching oil targets

Providence Resources’ appraisal well on the Barryroe field off southern Ireland is close to the underlying oil targets.

Offshore staff

DUBLIN, Ireland – Providence Resources’ appraisal well on the Barryroe field off southern Ireland is close to the underlying oil targets.

The semisub GSF Arctic III is drilling well 48/24-10 in the North Celtic Sea basin in Standard Exploration License (SEL) 1/11. It is about 50 km (31 mi) offshore and in 100 m (328 ft) water depth.

The well has encountered gas shows while drilling through the PSE Seven Heads-operated gas reservoir, which overlies the Barryroe.

Following casing of the current section, drilling will continue into the underlying primary and secondary Barryroe oil reservoir targets.

12/14/2011

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