DUBLIN, Ireland – Providence Resources has issued an update on the Capricorn-operated Spanish Point South licensing option 11/2.
The concession, 160 km (99 mi) offshore Co. Clare, westernIreland in 400 m (1,312 ft) of water, was awarded under the 2011 Irish Atlantic Margin licensing round.
Following a mandatory 25% areal relinquishment, Ireland’s government has offered the partners a follow-on frontier exploration license.
They have already started planning for a new 500-sq km (193-sq mi) 3D seismic survey over the area. According to Providence, they have identified potential prospectivity in upper Jurassic and lower Cretaceous intervals similar to those that tested oil and gas in the adjacent Spanish Point 35/8-2 and Burren 35/8-1 discovery wells.
John O’Sullivan, the company’s technical director, said: “Our planned3D seismic survey will be the third which the partners have acquired across the area, and which, in tandem with the 2014 Spanish Point well, should put us in the leading position in understanding the hydrocarbon exploration and development potential within the principle prospective Mesozoic intervals.”