Irish offshore seismic survey

Providence Resources PLC 13 October 2005 Providence Resources P.l.c 12 October 2005 PROVIDENCE COMMENCES MAJOR IRISH OFFSHORE SEISMIC SURVEY Providence Resources Plc ('Providence') is today pleased to announce the commencement of a major new Irish offshore seismic survey using a new 'long offset' technique, which can vastly improve imaging and hydrocarbon detection. The survey, which is being used for the first time in the Celtic Sea, will focus on a number of the Company's existing oil and gas field assets and will be carried out by Fugro Data Services AG and TGS-NOPEC Geophysical Company ASA. The survey is being partially underwritten by Providence. This first phase of the survey is expected to target specific structures including Ardmore, Hook Head and Blackrock. In addition, the survey will provide increased definition on the Pegasus, Dionysus and Apollo prospects in the St George's Channel Basin, where Providence holds a dominant acreage position adjacent to the Marathon-operated Dragon gas field. A second survey phase is envisaged for 2006, which will involve a further 2,500 km of 2D seismic data collection, including some of Providence's large prospects in the Porcupine Basin off the west coast of Ireland. Commenting on the survey, Chief Executive, Tony O'Reilly Jnr said: 'This new survey technique has already resulted in a noticeable increase in exploration success in the North Sea and we are delighted to be pioneering its use offshore Ireland. This is an exciting and important step in progressing towards drilling and development of Providence's many assets.' Contacts: Providence Tony O'Reilly Jnr. (Chief Executive) Tel: +353 1 667 5740 Powerscourt Tel: +44 (0) 207 236 5615 Victoria Brough Mob:+44 (0) 7967 044 840 Murray Consultants Pauline McAlester Tel: +353 1 498 0300 NOTES TO EDITORS About Survey The 'Northern Explorer' vessel mobilised from Den Helder, Holland on 12th October 2005 and is expected to acquire approximately 1,500 km of 2D seismic data in the North Celtic Sea and St. George's Channel Basins during 2005. The new survey involves the use of a new 'Long Offset' technique where an 8 kilometre long receiver streamer is towed behind the seismic surveying vessel. This new technique, which has not previously been deployed offshore Ireland, vastly improves imaging and direct hydrocarbon detection, and presently is creating a renaissance in North Sea exploration. Partners in this survey are: Providence Resources Plc Fugro Data Services AG TGS-NOPEC Geophysical Company ASA Island Oil and Gas Plc. About Providence Resources Providence's active oil and gas portfolio includes interests in Ireland (offshore), the UK (onshore and offshore) and West Africa (offshore Nigeria). Providence's portfolio is balanced between production, appraisal and exploration assets, as well as being diversified geographically. Comprehensive information on Providence and its oil and gas portfolio, including its AIM Admission document and Annual Report 2004, are all available from Providence's website at www.providenceresources.com. This information is provided by RNS The company news service from the London Stock Exchange
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