Providence agrees exploration deal with ExxonMobil

Gas exploration and production company Providence has signed a farm-out agreement with ExxonMobil, the world’s largest oil and gas company, on its Dunquin Prospect in the Porcupine Basin off the west coast of Ireland.

The AIM and ISEQ-listed company was granted an 80% interest of the Dunquin Prospect licence in November 2004 with its 20% partner, Sosina Exploration Limited. Covering an area of some 700 km2, the large Dunquin Prospect extends over five blocks.