LONDON (Alliance News) - The Irish-based oil & gas company Providence Resources PLC said Monday it continues commercial discussions in relation to a potential farm-out of equity in the Newgrange prospect in Ireland.
The EL 6/14 licence, containing the Newgrange prospect, is operated by Providence Resources on behalf of its partner Sosina Exploration Ltd and is situated in 1,000 metres water depth at 260 kilometres off the south-west coast of Ireland.
The company also said that Gardline's MV Kommandor survey vessel has begun mobilisation in advance of the planned acquisition of data for input to an application for the permitting of an offshore exploration well.
The site survey operations have started about two months ahead of schedule.
Providence Resources shares were trading down 0.9% at 11.47 pence each.