Hook Head well meets objectives

Offshore staff

DUBLIN, Ireland --Providence has logged 75 ft (23 m) of net hydrocarbon-bearing reservoir from its appraisal well on the Hook Head structure in Ireland's Celtic Sea.

Well 50/11-3, drilled in 240 m (787 ft) of water around 60 km (37 mi) offshore Waterford, was drilled to TVD 4,880 ft (1,487 m). It encountered all the geological horizons anticipated in the pre-drill prognosis, delivering significant oil and gas shows to suggest the presence of either light oil or rich gas.

Preliminary petrophysical analysis of electric wireline logs over the main Lower Cretaceous target indicate a 484 ft (147.5 m) gross hydrocarbon-bearing interval. The reservoir zones are of equivalent age to those intersected by Marathon's original discovery wells in the 1970s, but reservoir quality in 50/11-3 appears to be superior, with average porosities of 20% within the main hydrocarbon-bearing interval.

Providence and its partners plan to set casing before embarking on a flow test of the well.

09/10/2007