Offshore staff

DUBLIN, UK --Providence Resources has gained an extension to Sept. 30 for its licensing option 05/3 in the Irish sector of the St. George's Channel. This includes Apollo, an oil exploration prospect within a large tilted fault block in the southwest of the St. George's Channel basin.

Apollo has been mapped as extending over an area of 40 sq km (24.85 sq mi), using 2D seismic commissioned by Marathon in 1993. It lies in 80 m (262 ft) of water, 30 km (18.64 mi) off Ireland's south coast. Prospective horizons within the structure include Lower Jurassic sands, which have produced oil and gas shows in wells nearby, and Upper Jurassic sands which successfully flow tested 20MMcf/d at Marathon's Dragon field off southwest Wales.

Providence will use the extension to perform additional subsurface work, and to continue its farm-out efforts. Recent in-house mapping suggests total prospective resources in the Lower Jurassic reservoirs of 330MM bbl.

4/5/2007