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The Irish exploration company Providence Resources has received new data suggesting that a site off the southwest coast could produce oil.
The company, headed by Tony O'Reilly Jr., said last month that there was a renewed international interest in Dunquin South, an area of 25,000 km2 of territorial waters of the Republic to the west of Barryroe, off the coast of Kerry. Providence Technical Director, John O. Sullivan, said at a shareholders' meeting that Providence and several multinational oil companies, including the Italian ENI and Spanish Repsol, have released this year reports on Dunquin's oil supply outlook. The South is back on the radar and we think it could be from a world clbad perspective. "
Providence holds 26.85% of an exploration license at Dunquin South." Eni, Repsol and the British company Sosina Exploration are the other shareholders
Exxon drilled a single well. Exploration in the neighboring North Dunquin five years ago, but abandoned after not finding any oil.At the time, there was a significant international interest in the Porcupine Basin, of which Dunquin
Mr. O. Reilly was a part explained that other works of Providence discovered a 1-kilometer "bullet hole" in the North Dunquin bedrock.On Friday, Providence issued a "technical update" on the project, in which he claimed to have received 3D seismic data, which confirmed that nothing of this is evident on the South Dunquin.
Imaging of the underlying Dunquin Ridge of 700 km2 has also been "greatly improved", indicating that the Ridge is sedimentary scale
M. O & # 39; Sullivan said Friday that the development was "very encouraging".
"The presence of a major chimney above Dunquin North has been identified as the main reason for the eventual failure," he said.
"It is obviously very encouraging to note that" In addition, the data suggest a sedimentary rather than volcanic origin for the cryptic enigmatic Dunquin crest, which itself can provide another very important stacking. 39, exploration for a future Dunquin South well. "
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