Apr. 2012 - Providence Resources believes it has identified two gas prospects approximately 45 miles off the west coast of Ireland, and close to Shell's Corrib gas field. Providence said that an initial technical evaluation of Licensing Option 11/12 has revealed the presence of two prospects in the Slyne Basin that it has called "Kylemore" and "Shannon" - both similar in age to the Corrib field. The Kylemore prospect is interpreted as a mid-basinal inverted four-way dip-closed anticline based on a combination of 2D and 3D seismic data. The most recent mapping of the Kylemore prospect indicated that it is structurally directly analogous to the Corrib gas field, with volumetric analysis based on available maps indicating potential gas in place of up to 228 billion standard cubic feet. The Shannon structure, which was drilled by Enterprise Oil in 1999, demonstrates significant structural closure covering around 9 square miles, the LO 11/12 partners believe that Shannon warrants a complete reevaluation in the context of any remaining resource potential. The company plans to apply modern seismic processing technologies to the available 3D seismic data in order to better quantify any remaining resource potential in the area.