(Sharecast News) - Ireland-focussed energy company Providence Resources updated the market on its operations on the Barryroe field on Tuesday, which lies in water 100 metres deep in the North Celtic Sea Basin, about 50 kilometres off the south coast of Ireland.
The AIM-traded firm said that pursuant to an earlier authorisation under the SEL 1/11 licence, its wholly-owned subsidiary Exola DAC commissioned a wellsite survey on behalf of the joint venture, which includes its partner Lansdowne Celtic Sea.
It confirmed on Tuesday that the Marine Institute's Celtic Voyager survey vessel mobilised on 24 October to the Barryroe field, where it was set to undertake a seabed, shallow geophysical and environmental baseline survey over the K area of the Barryroe field.
The site survey was expected to take up to seven days, depending on operating conditions.
"The directors of Providence Resources believe that we have a compelling proposition with regards to the Barryroe prospect," said executive chairman James Menton.
"We continue to focus on moving ahead with this project in these challenging times of energy supply and security."
At 0958 BST, shares in Providence Resources were down 2.94% at 3.3p.
25 Jul 2012 14:34
Providence upgrades resource estimate at Barryroe
Oil and gas producer Providence Resources upgraded its oil in place resource estimates at the Barryroe oil field in the North Celtic Sea Basin, offshore Ireland. The probable resources now total 1,043m barrels of oil and possible resources total 1,612m barrels. The results follow the drilling an
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