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Providence Resources to divest onshore UK interests


Published Oct 1, 2012
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Providence Resources

Providence Resources has signed a binding Heads of Agreement with IGas Energy PLC (IGas) in relation to the divestment of its onshore UK producing, development and exploration assets.

Under the terms of the Heads of Agreement, IGas has agreed to acquire Providence’s 100% interest in the Singleton oil field, located in UK Production Licence (PL) 240, as well as its 50% operated interest in Petroleum Exploration and Development Licence (PEDL) 233, which includes the Baxter’s Copse oil discovery and Burton Down exploration prospect. Both of these licences are located in West Sussex, onshore United Kingdom.

Tags: Providence Resources Plc




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