Providence Reources Plc, the AIM and IEX listed company, confirms that, in conjunction with its AJE Partners (comprising Yinka Folawiyo Petroleum Company Limited ("YFP") acting as the Operator, Chevron Nigeria Deepwater H Limited ("CDHL") acting as the Technical Adviser, Vitol Exploration Nigeria Limited ("Vitol"), Energy Equity Resources Aje Limited ("EER") and P.R. Oil and Gas Nigeria Limited ("Providence")), drilling of the AJE 4 well has now commenced.
The AJE 4 well is being drilled utilising the Transocean Deepwater Pathfinder drill-ship. Drilling operations are expected to take up to 9 weeks. In the success case, the partners are not planning to flow test the well but to install production casing and suspend the well as a possible future producer.
No further announcements will be made until drilling operations conclude.
Commenting on the announcement, Mr Tony O'Reilly, Chief Executive said:
"We are delighted to confirm that the AJE 4 drilling operations have now commenced, allowing us to assess the full reserve potential of the AJE Field."
