Providence Resources has identified oil seeps off the coast of Northern Ireland

Providence spots seeps offshore Northern Ireland

LONDON, May 14, 2015 – Irish oil and gas exploration company Providence Resources has identified two large oil seeps near its Polaris prospect in the Rathlin Basin, off the northern coast of Northern Ireland, the company announced in a press release on Thursday.

Providence said it had used satellite oil seep data to identify the seeps, located 3.5 kilometres northwest of the prospect. The company added that they may indicate “active oil migration from Lower Carboniferous source rocks.”

The Polaris prospect is located in its P1885 licence area. Providence said it had relinquished 70 percent of its stake in the area in accordance with the data, attempting to concentrate on the most prospective portion over the Polaris prospect.

Providence Resource’s UK subsidiary acquired six exploration blocks in the licence area as part of the second tranche of offers in Britain’s 26th licensing round in 2011.

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