Providence Resources confirms that the Minister of State at the Department of Communications, Energy and Natural Resources (DCENR) has approved Cairn's farm-in as Operator to two licences and one licensing option offshore West of Ireland. Following this transaction, Cairn has a 38% working interest (WI) with co-venturers Providence (32% WI) Chrysaor (26% WI), and Sosina Exploration Ltd (4% WI).

Cairn has also announced that it has, on behalf of the co-venturers, entered in to a contract to secure a drilling rig for the planned Spanish Point appraisal well located in FEL 2/04, in the Porcupine Basin, Quad 35 area offshore West of Ireland. Cairn, and its co-venturers, Providence, Chrysoar and Sosina, will use the "Blackford Dolphin", an enhanced Aker H3 deep-water semi-submersible rig, which underwent a $400 million upgrade in 2006. Subject to obtaining the necessary approvals, the rig will be mobilised to begin operations on this well in Q2 2014 on licence FEL 2/04.

Tags: Providence Resources Plc