Irish oil and gas exploration company Providence Resources has been offered a follow-on frontier exploration licence (FEL)for its Newgrange option.
Providence (80 per cent) and Sosina Exploration (20 per cent) were awarded Newgrange as part of the 2011 Irish Atlantic Margin Licensing Round.
The Newgrange area lies in 1,000-metre water depth in the Goban Spur Basin and is about 260 kilometres off the south west coast of Ireland.
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