Irish oil and gas explorer Providence Resources has recently commissioned a third party rock physics modeling and seismic inversion study over the Dalkey Island exploration prospect in the Kish Bank Basin, offshore eastern Ireland.

The data found a presence of a potential direct hydrocarbon indicator at the top of the primary Lower Triassic reservoir interval.

From analogous producing oil and gas fields in the nearby prolific Liverpool Bay area, direct hydrocarbon indicators have been noted.
Additionally, the petroleum systems analysis has suggested that the underlying Carboniferous section, which to date has not been drilled in the basin, may also be prospective for oil.

This potential has been highlighted by the 33/22-1 well, which was drilled on the edge of basin and which found residual oil in Upper Carboniferous sands.

Seismic mapping of the Upper Carboniferous has revealed a large structural trap, which directly underlies the Lower Triassic Dalkey Island prospect.

The Dalkey Island prospect is located c. 10km offshore eastern Ireland in c. 25m water depth.

Providence holds an operated 50% equity interest in Licensing Option 08/2 together with its partner, Star Energy Group.