Forest Gate Resources Inc. and its Celtic Sea consortium partners, lead by Providence Resources Plc, have taken delivery of the Petrolia semi-submersible drilling rig from Island Oil and Gas Plc in anticipation of their upcoming appraisal drilling program at the Hook Head prospect in the Celtic Sea.

Under the terms of the rig share agreement with Island Oil and Gas Plc, the consortium members have secured the Petrolia Rig for a 50-day drilling slot.

"The project is moving ahead as anticipated and I look forward to news from Ireland in the very near future." said Michael Judson, President & CEO of Forest Gate.

In other consortium news, Providence has agreed to a new farm-out agreement with Sosina Exploration Limited over Celtic Sea Standard Exploration Licenses 2/07 ('Hook Head') & 3/07 ('Blackrock'). Subject to Irish governmental approval of this agreement, Sosina Exploration Limited will hold a 5% stake in these licenses. Providence's equity stake will remain at 40%, with Dyas BV at 15%, Atlantic Petroleum (Ireland Limited) at 10%, Forest Gate Resources Inc. at 15% and Challenger Minerals (Celtic Sea) Limited at 15%.