Providence begins drilling of AJE 4

Providence Reources Plc confirm that in conjunction with its AJE Partners (comprising Yinka Folawiyo Petroleum Company Limited (”YFP”) acting as the Operator, Chevron Nigeria Deepwater H Limited (”CDHL”) acting as the Technical Adviser, Vitol Exploration Nigeria Limited (”Vitol”), Energy Equity Resources Aje Limited (”EER”) and P.R. Oil and Gas Nigeria Limited (”Providence”), drilling of the AJE 4 well has now commenced.

The AJE 4 well is being drilled utilising the Transocean Deepwater Pathfinder drill-ship. Drilling operations are expected to take up to 9 weeks. In the success case, the partners are not planning to flow test the well but to install production casing and suspend the well as a possible future producer.

Commenting on the announcement, Mr Tony O’Reilly, Chief Executive said that we are delighted to confirm that the AJE 4 drilling operations have now commenced, allowing us to assess the full reserve potential of the AJE Field.