Analysis confirms prospectivity in Drombeg offshore Ireland

Providence Resources has provided an update on the review of its Lower Cretaceous Drombeg prospect in the southern Porcupine basin offshore southwest Ireland.

Offshore staff

DUBLIN, Ireland – Providence Resources has provided an update on the review of its Lower Cretaceous Drombeg prospect in the southern Porcupine basin offshore southwest Ireland.

The Drombeg prospect, in frontier exploration license (FEL) 2/14, has been mapped as a significant stratigraphic amplitude/AVO-supported exploration target. The location is 220 km (137 mi) offshore in a water depth of around 2,500 m (8,202 ft).

Last year Polarcus MC acquired a 4,435-sq km (1,712-sq mi)multi-client 3D seismic survey over the prospect and surrounding area. Providence has licensed roughly 2,247 sq km (868 sq mi) of the data.

Initial analysis of the fasttrack 3D volume reveals seismic morphologies in Drombeg that are consistent with those of a large deepwater fan system. It also appears that the Drombeg fan is being sourced from the Porcupine Bank via discrete sediment feeder systems.

Additionally, a review of the seismic gathers during data processing has confirmed anomalous Class II AVO behavior within the prospect.

The main interpretation, mapping and seismic attribute analysis on the final migrated 3D volume should be delivered at the end of April.

Providence says Drombeg has drawn interest from various major oil companies.

03/05/2015

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