Ireland Operations

CELTIC SEA

Standard Exploration Licence 2/07  (72.5% interest)

HOOK HEAD
The Hook Head discovery lies approximately 60 km off the south coast of Ireland and lies in c. 70m water depth. The Hook Head structure is a large mid-basinal anticline where the four wells drilled to date have all successfully encountered hydrocarbon-bearing sands. The Hook Head discovery was made in 1971 by Marathon Oil and subsequently appraised in 1975 with the 50/11-1 & 2 wells respectively. In 2007, Providence operated the 50/11-3 well which encountered a significant oil column in Lower Cretaceous sands in the eastern part of the structure which are equivalent in age to those seen in previous wells. Unfortunately, operational problems precluded a full well test to be executed.

In 2008, Providence drilled the 50/11-4 appraisal well which failed to encounter hydrocarbons in the primary objective but encountered, in the second objective a significant gas column in the north-west sector of the structure. The most recent Providence analysis suggests that the main central panel of the Hook Head structure contains c. 100 MMBO STOIIP with further potential remaining on the north and south panels. Ongoing studies are focused on delineation of the development threshold for this accumulation.

Other partners in the project include  Challenger Minerals, Atlantic Petroleum and Sosina Exploration.

DUNMORE
The Dunmore discovery is located approximately 20 km north of the Hook Head discovery. The discovery well, 50/6-1, was drilled by the then Operator, Gulf Oil in 1985/86, and flowed at a rate of approximately 2,100 BOPD of high quality (44º API) oil. During 2008, Providence drilled the 50/6-4 appraisal well on the Dunmore structure and whilst the well failed to prove the lateral extent of the hydrocarbon bearing Upper Jurassic sands, a new oil bearing carbonate interval was intersected. Studies in relation to this new oil bearing zone are presently ongoing. Other partners in the project include Challenger Minerals, Atlantic Petroleum and Sosina Exploration.

HELVICK
The Helvick oil field is located in block 49/9, some 36 kilometres off the south coast of Ireland. The Helvick discovery well, 49/9-2, was drilled in 1983 and flowed at a cumulative rate of c. 9,900 BOPD and 7.5 MMSCFGD. Three appraisal wells were drilled in the late 1980s to delineate the field. In 2000, Providence drilled the 49/9-6Z well which was flow tested at rates of c. 5,200 BOPD. Further detailed analysis indicated that the Helvick reservoir is compartmentalised and would require further appraisal, particularly in the surrounding area. Providence concluded that development of Helvick on a stand-alone basis could not be justified given market conditions at that time.

Recent modern analysis of well test data suggests that wells could produce oil at significant rates under primary depletion. This, together with improved commodity prices, indicates that Helvick could provide an incremental oil development project in the future and may provide a subsea oil development tied back to a potential Hook Head or Dunmore liquids facility.

ARDMORE
The Ardmore gas field lies approximately 48 km north-east of the Kinsale Head gas field.  The discovery well, 49/14-1, was drilled in 1975 by the then Operator, Marathon, and flowed at an aggregate rate of circa 8 MMSCFGD.  In 2006, Providence completed a high-resolution 3-D seismic survey over the field. A recent assessment of these data, together with a re-evaluation of the original well test data, indicates a recoverable reserve potential of c. 30 BSCF within the uppermost reservoir interval. Additional reserve potential exists in tested gas bearing intervals at deeper levels within the structure.