Providence Resources provides an update on the Spanish Point area in the northern Porcupine Basin, offshore west of Ireland. The Spanish Point area includes Frontier Exploration Licence (FEL) 2/04 and 4/08, in which Providence holds a 58% equity interest and which are operated by Capricorn Ireland Limited (38%), a wholly owned subsidiary of Cairn Energy PLC with Sosina Exploration Limited holding the remaining 4% equity interest.

The area contains the upper Jurassic Spanish Point gas condensate field and Lower Cretaceous Burren oil discovery, as well as many other identified leads and prospects, and is located in c. 400 m water depth being c. 160 km off the west coast of Ireland.

Tags: Providence Resources Plc