Shares in Irish oil explorer Providence Resources sank in London yesterday after the firm confirmed it would seek a new partner for its Barryroe asset off the south coast of Ireland.
Providence Resources has decided to hand in a fresh application for surveys on the site of the Barryroe field following a legal challenge.
Shares in Providence Resources jumped by almost 10% in London this morning after the Irish oil firm beefed up its drilling programme for the Barryroe field.
Providence Resources’ boss said today that farm-out deals had helped the Irish explorer “shore up” its finances and bring first oil from the Barryroe discovery closer.
Lansdowne Oil & Gas said today that it expects to raise £900,000 through the placement of 69 million new ordinary shares.
Providence Resources said today that Chinese firm Apec will buy into the Barryroe oil field, off the south coast of Ireland.