Study confirms Ardmore’s strong oil potential

Providence Resources has completed a study of the heavy oil underlying the Ardmore field in Ireland’s North Celtic Sea basin.

Offshore staff

DUBLIN, Ireland -- Providence Resources has completed a study of the heavy oil underlying the Ardmore field in Ireland’s North Celtic Sea basin.

The review, based on a 3D seismic survey acquired in 2006, suggests a potential resource of up to 230 MMbbl of 16° API crude beneath the Ardmore gas cap.

Ardmore is in Standard Exploration License 207, in 90 m (295 ft) water depth, 60 km (37 mi) offshore Ireland’s south coast. The Lower Cretaceous-age field was discovered by Marathon in 1974, in sands similar to those producing at the nearby Kinsale Head field.

Providence, which operates the license in partnership with Atlantic Petroleum and Sosina Exploration, conducted the re-evaluation following a similar exercise at the nearby Balmoral heavy oil structure.

The partners have agreed to bring in a heavy oil specialist to assess options for a future development.

05/18/2010

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