Thursday 21 September 2017

Providence Resources: Significant interest in its Barryroe assets

Tony O'Reilly Jnr, chief executive officer of Providence Resources, at the launch of the exploration company's annual report for 2006 in Dublin yesterday. Paul Sharp
Tony O'Reilly Jnr, chief executive officer of Providence Resources, at the launch of the exploration company's annual report for 2006 in Dublin yesterday. Paul Sharp

EXPLORATION firm Providence Resources said today it has received a significant amount of international industry interest in its Barryroe assets in Cork with the sale process ongoing.

The company also reported profits of €1.3m, the sale of UK assets and it also announced that it has managed to pay off its corporate debt.

Providence has hired Rothschild to manage the sale of a stake in Barryroe.

“Following the truly transformational year of 2012, the first half of 2013 continued with a high level of activity,” said Tony O’Reilly Jnr, chief executive at the company.

“The main focus of our activities remained the ongoing post well work at Barryroe, the independent audit of resources and the launch of our industry wide Barryroe farm out campaign.”

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