Clare: North Clare has emerged as having potential for significant oil and gas production after a 3D seismic survey confirmed the presence of a large structural closure.
The survey carried out by Providence Resources located hydrocarbon bearing zones in Spanish Point. The survey also discovered the presence of black oil in the Burren, suggesting it may form part of a larger oil-bearing reservoir system providing significant future appraisal and exploration potential.
Chief executive of Providence Resources Tony O’Reilly described the findings as “extremely encouraging.”
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