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ExxonMobil’s (XOM) Dunquin North deepwater exploration well in the Porcupine Basin off...

ExxonMobil’s (XOM) Dunquin North deepwater exploration well in the Porcupine Basin off Ireland’s coast encounters water, not oil, but partner Providence Resources still finds indications of potential for oil to be found in the area, keeping alive hopes of offshore discoveries there. Dunquin was seen as a significant test of the area because it was the first well drilled in the basin proper.
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