PROVIDENCE RES. Providence Resources P.L.C. : Licence Update Frontier Exploration Licence 2/14 Southern Porcupine Basin
July 13 2018 - 2:00AM
UK Regulatory
TIDMPVR
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
LICENCE UPDATE
FRONTIER EXPLORATION LICENCE 2/14
SOUTHERN PORCUPINE BASIN
-- CLOSING OF FARM-OUT FOR THE ASSIGNMENT OF EQUITY & TRANSFER OF
OPERATORSHIP IN FEL 2/14 TO TOTAL
Dublin and London - July 13, 2017 - Providence Resources P.l.c. (PVR LN,
PRP ID), the Irish based Oil and Gas Exploration Company, provides a
Licence Update on Frontier Exploration Licence ("FEL") 2/14.
Providence is pleased to confirm that, having received approval from the
Minister of State at the Department of Communications, Climate Action
and Environment, the farm-out comprising the assignment of equity (35%)
and transfer of operatorship of FEL 2/14 to TOTAL E&P Ireland B.V.
("TOTAL"), a wholly owned subsidiary of TOTAL S.A., has now completed.
FEL 2/14 contains the undrilled Diablo prospect as well as the drilled
Druid & Drombeg prospects.
The equity in FEL 2/14 is now TOTAL (Operator - 35%), Capricorn (30%), a
wholly owned subsidiary of Cairn Energy PLC, Providence Resources P.l.c.
(28%) and Sosina Exploration Limited (7%).
INVESTOR ENQUIRIES
Providence Resources P.l.c. Tel: +353 1 219 4074
Tony O'Reilly, Chief Executive Officer
Cenkos Securities plc Tel: +44 131 220 9771
Neil McDonald/Derrick Lee
J&E Davy Tel: +353 1 679 6363
Anthony Farrell
Mirabaud Securities Limited Tel: +44 203 167 7221
Peter Krens
MEDIA ENQUIRIES
Powerscourt Tel: +44 207 250 1446
Peter Ogden
Murray Consultants Tel: +353 1 498 0300
Pauline McAlester
ABOUT PROVIDENCE RESOURCES
Providence Resources is an Irish based Oil & Gas Exploration Company
with a portfolio of appraisal and exploration assets located offshore
Ireland. Providence's shares are quoted on the AIM in London and the
ESM in Dublin. Further information on Providence can be found at
providenceresources.com.
ANNOUNCEMENT
This announcement has been reviewed by Dr John O'Sullivan, Technical
Director, Providence Resources P.l.c. John is a geology graduate of
University College, Cork and holds a Masters in Applied Geophysics from
the National University of Ireland, Galway. He also holds a Masters in
Technology Management from the Smurfit Graduate School of Business at
University College Dublin and a doctorate in Geology from Trinity
College Dublin. John is a Chartered Geologist and a Fellow of the
Geological Society of London. He is also a member of the Petroleum
Exploration Society of Great Britain, the Society of Petroleum Engineers
and the Geophysical Association of Ireland. John has more than 25 years
of experience in the oil and gas exploration and production industry
having previously worked with both Mobil and Marathon Oil. John is a
qualified person as defined in the guidance note for Mining Oil & Gas
Companies, March 2006 of the London Stock Exchange. Definitions in this
press release are consistent with SPE guidelines. SPE/WPC/AAPG/SPEE
Petroleum Resource Management System 2007 has been used in preparing
this announcement.
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Providence Resources plc via Globenewswire
http://www.providenceresources.com/html/
(END) Dow Jones Newswires
July 13, 2018 02:00 ET (06:00 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Providence Resources (LSE:PVR)
Historical Stock Chart
From Apr 2024 to May 2024
Providence Resources (LSE:PVR)
Historical Stock Chart
From May 2023 to May 2024