Providence, the AIM (London) and IEX (Dublin) listed oil & gas exploration and production company, has commenced drilling operations on its multi-well drilling programme on Standard Exploration Licence 2/07 in the North Celtic Sea Basin, offshore southern Ireland.

Using the Transocean semi submersible GSF Arctic II semi-submersible rig, drilling operations on the initial Hook Head appraisal well (50/11-4) commenced at 12:00pm on Tuesday, August 5th.

Following completion of this well, a further appraisal well, (50/6-4), is planned to be drilled on the nearby Dunmore oil accumulation, located approximately 20 kilometres to the north of the Hook Head oil accumulation.

It is anticipated that the multi-well drilling programme will take up to 3 months, which includes a provision for a comprehensive wireline logging and testing programme.

Tony O'Reilly, Chief Executive of Providence said, "We are extremely pleased to announce the commencement of drilling operations in the Celtic Sea. This is a very exciting time for Providence and its shareholders and we look forward to the outcome of this multi-well/multi-project drilling programme".

Tags: Providence Resources Plc