Providence Resources today said it had been granted a new licensing option in the north Celtic Sea basin by the Minister of Communications, Energy and Natural Resources.
The new licensing option for the Irish oil and gas group has a term of one year and is for an area adjacent to Hook Head, where Providence and its partners are testing the successfully drilled 50/11-3 appraisal well.
"We believe that the option area offers possible further significant hydrocarbon potential, which may complement any future development of the Hook Head discovery," chief executive Tony O'Reilly jnr said.