Exploration company Providence Resources has reported a 'excellent' resolution in its initial fast-track 3D seismic programme on its Spanish Point licence.
The licence is located about 200km off the west coast of Ireland and is operated by Providence (56%) on behalf of its partners Chrysaor E&P Ireland (30%) and Sosina Exploration (14%).
During the summer Providence and its partners acquired a 3D seismic survey over the Spanish Point licence, which contains the Spanish Point gas discovery and the adjacent Burren oil discovery.
'Of particular significance is the identification of additional potential reservoir up-dip from the discovery well,' commented Providence CEO Tony O'Reilly.
'This indicates significant resource upside in terms of gas in place. We are also very encouraged by the data over the Burren oil discovery,' he added.
