Providence Overview Irish based E&P Group Partnership is Key Over 30 years exploring offshore Ireland Bring in industry partners for drilling Irish headquartered & managed Co-venture with industry partners for development phase…
Providence Opportunity Today Ireland focused Oil & Gas portfolio Multi-basin drilling programme alongside material new prospects Management has significant experience of the Irish offshore sector Attractive geopolitical and…
2014 Highlights Barryroe License area increased to cover potential field extensions outside of the originally licensed area Development of First Phase Production System development concept with initial oil production rates of c.…
2014 Highlights Other Projects Conversion of three Atlantic Margin Licensing Options into Frontier Exploration Licences: Drombeg; Spanish Point South; Newgrange New seismic surveying carried out over: Drombeg Prospect (3D); Spanish…
Post Year-End Events Barryroe Farm out discussions ongoing Application made to extend both the first phase of the licence as well as the areal extent in order to cover potential further field extensions outside of the currently…
Post Year-End Events Drombeg 3D seismic processing complete interpretation has commenced 3D seismic morphologies consistent with a large deep-water fan system Potential sediment input systems from the nearby Porcupine Bank Class II…
Strategy Focus on Oil & Gas exploration offshore the Island of Ireland Core focus on early stage exploration & appraisal opportunities Active in 8 basins Create diversified material exploration & appraisal portfolio c. 333 MMBOE…
Objectives 2015/2016 Farm out of Barryroe* Spanish Point appraisal well* Participate in 2015 Irish Atlantic Licensing Round Complete processing of 3D & 2D seismic on: Drombeg in advance of intended farm out for future…
Providence - Central To The Irish E&P Sector Four Main Areas Of Focus Near Shore/Shallow Water Exploration Areas c. 0 100 metre water depth 2D seismic coverage Well Control Near Shore Appraisal Areas c. 100 metre water depth…
Providence Focus Projects Two Significant Appraisal Projects Providence has an interest in net audited un-risked 2C Contingent Resources of c. 333 MMBOE REC in the Spanish Point and Barryroe projects Additional gross un-risked…
Material Prospects With Activity Barryroe Oil Project (2011/12) Dunquin South Oil Prospect Successful appraisal well on basal reservoir zone. Post well analysis of Dunquin North upgrades this large structure. Unable to drill the key…
Providence Programme Targeting c. 4.7 BBOE* Multi-Basin Drilling Programme 4 1. Barryroe Oil Project, North Celtic Sea Basin (PVR-80%) Field Size (2C): 346 MMBOE REC Appraisal well drilled in 2012 2. Dunquin South Oil Prospect, South…
Providence Team Tony OReilly Simon Brett Chief Executive Chief Financial Officer 25 years experience 21 years experience ARCON, C&L Damovo, Coca Cola Dr. John OSullivan James Cockings Technical Director Geological Advisor 25…
Summary Ireland is a Unique Location Ireland focused Oil & Gas portfolio Attractive geopolitical and fiscal environment Multi-basin drilling programme alongside material new prospects Experienced Management Team Management has…
Appendix - Portfolio Management 17
Barryroe Oil Project, North Celtic Sea Basin Barryroe Audited Gross Resources Audited Gross on Block Resources 6 wells drilled (3 tested) and modern 3D PSDM seismic OIP REC coverage 2C/P50 2C/P50 4 stacked sands Main Sands MMBO…
Spanish Point Gas Condensate Project, Northern Porcupine Basin Spanish Point Audited Gross Resources Tested well and modern 3D PSDM seismic coverage 2011 Senergy CPR Resource Audit 1C Contingent Resources c. 52 MMBOE REC 2C…
Dunquin South Oil Prospect, Southern Porcupine Basin Prospect Details Two isolated carbonate platforms Dunquin North & South Dunquin North exploration well (2013) c. 44m residual oil column encountered in massive over-pressured high…
Drombeg Oil Prospect, Southern Porcupine Basin Prospect Details 1,000 km 2D survey carried out in 2008 Interpreted Significant Lower Cretaceous seismic anomaly linked to underlying fluid escape feature Low impedance, Class II AVO,…
Newgrange Gas Prospect, Goban Spur Basin Prospect Details 500 km 2D seismic survey carried out in 2006 Significant structure identified in basin Cretaceous target c. 400 metres BML in 1,000m water depth Structural closure covers c.…
Dragon Gas Project, St. Georges Channel Basin Dragon Field Details Upper Jurassic sandstone discovery Tested well and 3D PSDM seismic coverage P50 REC c. 300 BSCF (PVR) Licence Acrege Both UK and Irish blocks held 100% by…
Kish Oil Prospect, Kish Bank Basin Prospect Details Significant Lower Triassic structural closure mapped on 2D seismic data P50 REC 210 MMBO (PVR) Provisional exploration well location agreed East Irish Sea projects analogues…
Polaris Oil Prospect, Rathlin Basin Regional Activity Hydrocarbon concept proven by Rathlin Energy Limiteds onshore Ballinlea-1 oil discovery well (2008) Rathlin Energy Limited are currently planning a well to appraise the…
Silverback Oil Prospect, South Celtic Sea Basin Prospect Details Licensing Option covers c. 1,500 km Seismic reprocessing and inversion of available 2D data over the c. 170 km2 Lower Triassic Silverback structure Pmean STOIIP 1.36…
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