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Providence Resources awarded site survey permit offshore Ireland

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Oilfield Technology,

Providence Resources has provided an operational update in relation to Standard Exploration Licence (SEL) 1/11 which contains the Barryroe oil accumulation. SEL 1/11 is operated by EXOLA DAC, a wholly-owned Providence subsidiary, on behalf of its partners, APEC Energy Enterprises Limited (APEC) and Lansdowne Celtic Sea Ltd, collectively referred to as the 'Barryroe Partners'.The area lies in approximately 100 m water depth in the North Celtic Sea Basin and is located approximately 50 km off the south coast of Ireland.
The Barryroe Partners can now confirm that they have received permission from the Minister of State at the Department of Communications, Climate Action and Environment to undertake a seabed debris clearance, environmental baseline and habitat assessment site survey (the 'site survey') over the area of the Barryroe field within SEL 1/11. Pursuant to the terms of the Updated Farm-out Agreement with APEC (as amended), and subject to the receipt of funding from APEC or alternative financing arrangements being put in place, the site survey is expected to commence later this month.

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