- Block SU91 is adjacent to producing Singleton Oil Field
- 50:50 Partnership with Northern Petroleum PLC
Providence Resources P.l.c., the AIM and IEX listed exploration and production company, announces that its UK subsidiary, Providence Resources (GB) Limited, and its partner, NP Weald Limited, a subsidiary of Northern Petroleum Plc, has been offered Block SU91 under the UK's 13th Landward Licensing Round, which was announced on May 28th, 2008. Providence and Northern, who are 50/50 partners, have identified a number of exploration and development opportunities within the block, principally the Baxter's Copse oil discovery and the Burton Down exploration prospect. Providence, who holds a 99.125% interest in the nearby Singleton oil field, will act as the Operator for the group.
Commenting on the announcement, Mr. Tony O'Reilly, Chief Executive, said:
"We are very pleased to have been offered this acreage as it lies adjacent to our producing Singleton field, thereby consolidating our acreage position in this area. We look forward to working with our partner, Northern Petroleum, in advancing the opportunities on this acreage."
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