(Sharecast News) - Ireland-focussed energy company Providence Resources updated the market on operations at the Barryroe field on Thursday, confirming that a baseline survey over the 'K' well drilling location was complete.
The AIM-traded firm said the field lies in water depth of about 100 metres in the North Celtic Sea Basin, around 50 kilometres off the south coast of Ireland.
It said the survey, studying the seabed, shallow geophysics and environment, was commissioned by Providence's wholly-owned subsidiary Exola DAC.
The survey was successfully completed, without incident, on time and under budget by the Marine Institute's Celtic Voyager survey vessel.
"The directors of Providence Resources are very satisfied with the successful completion of the Barryroe site survey," said executive chairman James Menton.
"This survey is part of the board's strategic review of Barryroe and the results of the site survey will be interpreted and incorporated into that review."
At 0905 GMT, shares in Providence Resources were down 4.93% at 3.14p.
13 Mar 2015 16:03