Providence Resources P.l.c. provided a technical update on the Barryroe oil discovery in the North Celtic Sea Basin, offshore Ireland. Providence (80 percent) operates Barryroe on behalf of its partner Lansdowne Oil and Gas plc. The area lies in c. 100 meter water depth and is c. 50 kilometers off the south coast of Ireland.
In March 2012, Providence announced the successful flow testing of both oil and gas from the 48/24-10z appraisal well. This 48/24-10z well was the 2nd well to be tested in the basal sands and the 6th well to be drilled on the Barryroe oil discovery, in which all wells have successfully logged hydrocarbons. In addition to carrying out comprehensive flow testing, significant data acquisition was also carried out utilizing modern wire-line equipment. The objective of the 48/24-10z appraisal well was to capture the most comprehensive amount of data that could be used in conjunction with the data from the 5 previously drilled wells (most of which were drilled in the 1970's, and one was drilled in 1990) as well as the 3D data from the 2011 seismic program.