Providence Resources has said that new completed 3D seismic data over its southern Porcupine Basin site has enhanced its understanding of the "exciting exploration potential" of this block.
The exploration company said the data confirmed the presence of the previously mapped Dunquin South prospect.
Providence also confirmed that a large and significant potential fluid escape feature was evident over the previously drilled Dunquin North prospect, which would explain why that target did not find commercial hydrocarbons when it was drilled in 2013.
The company said that no such feature was evident over the Dunquin South prospect.
"The new 3D seismic data over FEL 3/04 are greatly enhancing our understanding of the exciting exploration potential of this block," commented Providence Resources' Technical Director Dr John O'Sullivan.
"The presence of a major chimney over Dunquin North has been identified as the main reason for prospect failure.
"It is obviously highly encouraging that no such feature has been identified over Dunquin South, which we believe substantially de-risks this exciting exploration prospect," Dr O'Sullivan added.
