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Lansdowne Oil & Gas and Providence Resources reported the offer of a new licensing option to its Barryroe partnership in the area to the north of the Barryroe oilfield in the North Celtic Sea Basin.
Licensing option 12/4 covers an area of 500 sq km. The option has a two-year term, after which it may be converted into a standard exploration license, which would involve the commitment to drill a well.
The main elements of the proposed work program involve assessing the prospectivity of the Barryroe Basal Wealden sand play across the option area.
Providence has 80% interest in the partnership; and Lansdowne, 20%.
Tony O'Reilly, chief executive of Providence, said, "This new option has increased our acreage position in the most prospective central part of the basin. Our work program has been designed to assess the potential of any extensions of the Barryroe field into the option area, together with determining whether any further satellite accumulations may exist close to the field that warrant investigation."