At the Drombeg Prospect an areally extensive lower cretaceous amplitude anomaly is identified on 2D seismic data

7 August 2012

The results of a new third party seismic inversion analysis will be exhibited at the upcoming Third Central & North Atlantic Conjugate Margins Conference, which is being held at Trinity College, Dublin on August 22-24, 2012.

Providence Resources (80%, Operator) and Sosina Exploration (20%) were awarded Licensing Option 11/9 ("Drombeg") as part of the 2011 Irish Atlantic Margin Licensing Round. The Drombeg prospect lies in c. 2,500 metre water depth (c. 3,000 metres below the seabed) and is located in the southern Porcupine Basin, c. 220 km off West Cork, being c. 60 km from the ExxonMobil-operated Dunquin exploration prospect which is due to be drilled Q2 2013.

As mapped, the Lower Cretaceous Drombeg stratigraphic prospect demonstrates a significant seismic amplitude anomaly and low seismic impedance as well as a marked AVO (amplitude versus offset) response. Providence recently engaged Ikon Science to carry out a rock physics modeling and 2D seismic inversion study of the Drombeg prospect using a number of key 2D seismic lines together with regional well data. This study has concluded that the mapped seismic anomaly is consistent with a modeled hydrocarbon bearing sandstone interval which has a seismically derived thickness of c. 200-300 ft.  Providence's mapping shows that the anomaly is aerially extensive covering c. 240 sq km and is interpreted to be the deepwater equivalent of Lower Cretaceous Apto-Albian aged shallow water marine sandstones encountered in the BP-operated 43/13-1 well, drilled in 1988. That well, which was situated c. 80 km from Drombeg, encountered c. 70 ft of net Apto-Albian sandstone (average porosity of c. 19%). An underlying second seismic anomaly has also been identified and modeled to be consistent with hydrocarbon bearing sandstone with a seismically derived thickness of c. 140-200 ft and both anomalies appear to have a potential common down-dip depth termination.

A major Jurassic tilted fault block closure covering c. 150 sq km has been mapped beneath the prospect and a marked fluid escape feature has been identified at its crest. This ?chimney' appears to terminate at the down-dip edge of the Drombeg seismic anomaly and provides potential evidence of hydrocarbon sourcing and migration into the prospect.

	About Ikon Science  Ikon Science is a global geoscience technology company. We provide industry leadership in the prediction of reservoir properties, pressures and fluids. Our RokDoc software, Quantitative Interpretation and GeoPressure Services all leverage the power of rock physics to integrate well, geopressure and seismic data to understand the subsurface.  Ikon Science's RokDoc software platform and related Quantitative Interpretation services are used globally in over 180 Oil, Gas, Energy and Service companies throughout the world.  Ikon Science, founded in 2001, employs over 160 people and has offices in London, Durham, Edinburgh, Lagos, Rio de Janeiro, Houston, Boulder, Kuala Lumpur and Perth, Western Australia.  The company is privately owned and investors include Fleming Family & Partners and Tullow Oil Plc.
	About Drombeg Click here to read more at the SOSINA website.
	About Third Central & North Atlantic Conjugate Margins Conference Click here to come to the conference website in a new window.