DUBLIN, Ireland – Providence Resources has received initially interpreted data from a recent 3D survey over the Dunquin structure in the southern Porcupine basin offshore southwest Ireland.
Dunquin is in frontier exploration license (FEL) 3/04: here there is an undrilled Lower Cretaceous carbonate exploration prospect,Dunquin South, and the residual oil accumulation Dunquin North.
Interpretation has confirmed the presence of Dunquin South prospect and a large and significant potential fluid escape feature evident over the previously drilled Dunquin North (although not over Dunquin South).
Imaging of the underlying 700-sq km (270-sq mi) Dunquin Ridge has also been greatly enhanced and the internal reflectivity, coupled with the seismic interval velocities, suggests the ridge is of sedimentary origin.
Dr. John O’Sullivan, technical director of Providence, said: “The presence of a major chimney over Dunquin North has been identified as the main reason for prospect failure. It is obviously highly encouraging that no such feature has been identified over Dunquin South, which we believe substantially de-risks this exciting exploration prospect.
“In addition, the data are suggesting a sedimentary versus volcanic origin for the erstwhile enigmatic Dunquin Ridge, which itself may provide another very significant stacked exploration target for a future Dunquin South well.”
07/20/2018
