Nov. 2012 - Providence and its partner Sosina recently completed a potential resource assessment and major seismic inversion program over its Drombeg prospect in the southern Porcupine Basin offshore Ireland. Analysis results indicate recoverable P50 prospective resource potential of 872 MMbo within Drombeg and a new target identified below the main prospect. Additional Lower Cretaceous seismic anomalies have been identified both laterally offset to and vertically stacked with Drombeg which provide further resource potential. Supplemental data and 3D seismic of the area will be needed to accurately evaluate the true potential of Drombeg.

Aug. 2012 - Providence Resources has issued a technical report on its Dromberg prospect, offshore Ireland, indicating its potential as a hydrocarbon target. Drombeg, which was awarded to Providence and its partner Sosina Exploration as Licensing Option 11/9 in the 2011 Irish Atlantic Margin Licensing Round, is located approximately 140 miles (225 kilometers) off West Cork in 8,200 feet (2,499 meters) of water. The prospect is targeting a Lower Cretaceous zone, demonstrating a significant seismic amplitude anomaly and low seismic impedance as well as a market AVO (amplitude versus offset) response. Providence added that it has also identified an underlying second seismic anomaly that has been modeled to be consistent with hydrocarbon-bearing sandstone.