Providence awarded west coast prospect

Providence Resources has extended its acreage off the west coast, via the Government offering it and its developmental partners a frontier exploration licence for its Spanish Point South option. It requires operators commit to at least one exploration licence at a prospect.

The prospect was awarded as part of the Irish Atlantic Margin Licensing Round, in 2011, and is 32% owned by Providence. Scottish explorer, Cairn Energy — via its Capricorn Ireland subsidiary — is operator, with a 38% stake — with London-based firms, Chrysaor owning 26% and Sosina Exploration 4%.

It’s been a busy week for Providence; with the Dublin-based company already having announced the award of a follow-on exploration licence for its Drombeg prospect in the southern Porcupine Basin and countering speculation the development of its Barryroe field in the Celtic Sea, wasn’t progressing according to plan.