17th Aug 2015 12:00
LONDON (Alliance News) - Providence Resources PLC on Monday said it doesn't know of any "specific reason" why its share price has fallen of late.
The Irish oil and gas exploration and appraisal company, said it "notes the recent fall in its share price and confirms that it is not aware of any specific reason for this decline".
The company reiterated that it has "now amassed in excess of 330 [million barrels of oil equivalent] of net audited 2C contingent resources at its Barryroe and Spanish Point assets and continues to focus on the delivery of its long-term, Irish-centric strategy, including the Barryroe farm-out process". 2C refers to the best estimate of contingent resources.
Providence Resources shares were down 2.8% at 13.85 pence on Monday afternoon in London. The stock was trading at 18.25p on Monday last week.
By Samuel Agini; [email protected]; @samuelagini
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