Providence Resources report that, together with its partner Lansdowne Oil and Gas plc (Lansdowne), it has been offered a new licensing option over five part blocks adjacent to the Barryroe oil field, by the Irish Department of Communications, Energy and Natural Resources.

Licensing Option 12/4 (Option) is located to the north and west of the Barryroe oil field (held under SEL 1/11) and covers an area of c. 500 km2.

The Option has a two year term after which it may be converted into a standard exploration licence which would involve the commitment to drill a well. Providence (80%) will operate the Option on behalf of its partner, Lansdowne (20%).

Tags: Providence Resources Plc