Providence Resources P.l.c.: Barryroe Site Survey Commences
Monday 9 September 2019
Providence Resources P.l.c., the Irish based Energy Company, provided an operational update in relation to Standard Exploration Licence (“SEL”) 1/11 which contains the Barryroe oil accumulation. SEL 1/11 is operated by EXOLA DAC (“Operator”, 40%), a wholly-owned Providence subsidiary, on behalf of its partners, APEC Energy Enterprises Limited and Lansdowne Celtic Sea Limited (10%), collectively the “Barryroe Partners”. The area lies in c. 100 metre water depth in the North Celtic Sea Basin and is located c. 50 km off the south coast of Ireland.
The Barryroe Partners can confirm that Gardline’s M/V Kommandorsurvey vessel has now mobilized to SEL 1/11 where it will undertake a seabed debris clearance, environmental baseline and habitat assessment site survey over the area of the Barryroe field within SEL 1/11. The projected programme provides for a minimum of two locations to be surveyed at this time with the scope to increase the number of locations upon receipt of the APEC Loan Amount. The site survey is expected to take up to 3 weeks depending on operating conditions.