Providence to re-visit Hook Head

Offshore staff

DUBLIN, Ireland --Providence Resources plans an appraisal well this summer on the Hook Head prospect in Ireland's Celtic Sea. The semisubmersible Petrolia will drill the well on the crest of this mid-basinal, anticline structure.

Marathon drilled two wells on Hook Head, one in 1971 and one in 1975. The first logged around 100 ft (30 m) of hydrocarbons in five Lower Cretaceous sandstone compartments. The second was drilled as a delineation well at the down-dip edge of the structure.

Post-drill mapping suggested the structure's crest was 2 km (11/4 mi) northeast of the discovery well, and this prognosis is supported by new seismic acquired in 2006. Recent analysis suggests prospective resources of up to 70MMbbl of oil, or 250bcf of gas. Hook Head is located in the North Celtic Sea basin in 80 m (262 ft) of water, 60 km (37 mi) off southeast Ireland.

3/30/2007