Providence Resources, an independent oil and gas exploration company, updated its shareholders on its portfolio at its annual general meeting in Dublin this morning.
The company, which is listed on Dublin's IEX market and London's AIM market, reported that it has now finalised the 2006 work programme on its Dunquin venture with ExxonMobil, under its farmout agreement.
It also reported increased production at its Singleton oilfield. The current average daily output at Singleton has increased by 55% to 670 barrels of oil per day. The company's chairman, Dr. Brian Hillery, welcomed the production increases, especially given current oil and gas prices.
Providence is currently considering a number of production and acquisition opportunities around the world.
