Providence’s shares are quoted on the AIM in London and the ESM in Dublin. Since its formation, Providence has built a diversified portfolio of oil and gas exploration licences and concessions with the key focus being the pursuit of exploration and appraisal interests offshore Ireland. The Company’s board and management have a well-established background in the oil and gas business having worked closely with many major companies throughout the world. Providence has previously and continues to work with leading companies including ExxonMobil, Repsol, ENI, Petronas & Cairn.
Providence’s strategy has been to assemble a material equity position in a portfolio of assets offshore Ireland combining existing discoveries with new prospects to improve overall economics and reduce risk profile in order to realise value and to generate sustainable incremental wealth for the Company and its shareholders.
- Focus on Oil & Gas exploration offshore the ‘Island of Ireland’
• Core focus on early stage exploration & appraisal opportunities
- Create diversified material exploration & appraisal portfolio
• c. 358 MMBOE net audited 2C Contingent Resources
• c. 4.792 MMBOE gross un-risked Prospective Resources
- Leverage in third parties to validate and co-venture with on prospects and projects
• ExxonMobil, ENI, Repsol, PETRONAS & Cairn Energy
- Farm out to defray CAPEX for subsequent drilling/development
As a result of these elements, Providence is leading the most ambitious multi-basin, multi-year drilling programme offshore Ireland. This programme, expected to last several years, is the largest concerted drilling programme ever carried offshore the island of Ireland and comprises a mixture of appraisal/development drilling on proven discoveries as well as exploration drilling.