Providence acquires new interests
19/09/2005 - 09:03:35Exploration company Providence has acquired a 10% interest in the West Lennox discovery and the adjoining Crosby exploration prospect in the Liverpool Bay area, offshore UK.
The company can also confirm that appraisal drilling commenced on the West Lennox discovery yesterday.
Providence boss Tony O’Reilly Jnr said: "West Lennox represents the first step in our stated strategy of increasing daily oil production. At a time of rising commodity prices, this will allow us to explore other real value-added opportunities already within our portfolio.
"This new presence in the East Irish Sea Basin compliments our other activities in the Irish Sea area, so leveraging our exploration potential."
