LONDON (Alliance News) - Providence Resources PLC on Friday said it has agreed terms on a 3D seismic data acquisition survey for the Newgrange prospect in the southern Porcupine and Goban Spur Basins offshore Ireland.
Providence holds an 80% stake in the licence and is the operator. Partner Sosina Exploration Ltd holds the other 20%.
Under the agreement, the pair will secure 1,200 square kilometres of seismic data from Searcher Seismic Pty Ltd.
Providence shares were up 13% to 11.33 pence on Friday morning.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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