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The lower cretaceous Drombeg reservoir interval encountered within the pre-drill depth prognosis


Preliminary log interpretation has indicated the presence of a porous water bearing interval, and following a comprehensive data acquisition programme the well is being plugged and abandoned as per programme


13 September 2017

SOSINA today provides an operational update regarding Frontier Exploration Licence ("FEL") 2/14 located in the southern Porcupine Basin. FEL 2/14 is operated by Providence Resources plc (56%) on behalf of its partners Capricorn Ireland Limited (a wholly owned subsidiary of Cairn Energy PLC, 30%) and SOSINA Exploration Limited (14%), collectively referred to as the "JV Partners".


The 53/6-1 (pre-drill designation 53/6-A) well, which spudded on July 11 2017, is located in c. 2,233 metres of water and c. 220 kilometres off the south-west coast of Ireland. The well, drilled by the Stena IceMAX drill ship, reached a final total depth of 5,281 metres MDBRT, having penetrated the north flank of the Lower Cretaceous Drombeg Prospect, which was encountered within the pre-drill depth prognosis. Logging together with down-hole sampling has confirmed that the Drombeg Prospect contains a porous water-bearing reservoir interval at the well location. The possible presence of bitumen was reported in drill cuttings within the Drombeg reservoir interval, which may indicate that it received an oil charge that was not retained at this location. However, further studies will be required in order to confirm this interpretation and its implications for the wider prospectivity within FEL 2/14.

As per the pre-agreed and consented programme, the well is currently being plugged and abandoned, after which the Stena IceMAX will be demobilised from Irish waters.


Mr. John Ødegaard,

Chairman of the Board

Mobile: +45 27 26 00 03





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