Providence to drill Spanish Point Discovery offshore Ireland

The Spanish Point site is located in Frontier Exploration Licence (FEL) 2/04 in the Main Porcupine Basin.

The discovery, which was originally made by Phillips Petroleum in 1981, is located in approximately 400m water depth and is approximately 170km off the west coast of Ireland.

Providence Resources operates FEL 2/04 (56%) with partners Chrysaor E&P Ireland (30%) and Sosina Exploration (14%).

Providence Resources chief executive Tony O’Reilly said that the last two years work has significantly de-risked Spanish Point and as such, it gives every confidence in the successful future appraisal and development of this tested discovery.

"We have already identified the primary appraisal well location and have commenced well planning with a view to drilling in 2012," O’Reilly said.

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