20th Jan 2014 13:20
LONDON (Alliance News) - Providence Resources PLC Monday said there has been no material change to its ongoing discussions over selling part of its Barryroe oil field.
The Irish oil and gas exploration and appraisal company made the release in response to media speculation that the Barryroe discussions may not be progressing to plan and further appraisal drilling may be necessary.
The company said in December that its strategy for future appraisal and development of the Barryroe oil field is to co-venture with a suitable financially and technically capable third party.
While the company said it is currently in discussions with major Asian, European and North American companies, it also said that an element of further appraisal for the site has always formed an essential part of its ongoing discussions.
Providence Resources were down 6.7% to 259 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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