Oil find is a lucky strike

THE OIL strike off Ireland's south coast this week is rare -- and very welcome -- good news for Ireland. The well at Barryroe is capable of producing 3,500 barrels of oil a day.

This could generate profits of at least €600m and would provide a huge tax boost to the Exchequer.

The strike will be welcomed by all.

As Providence chief executive Tony O'Reilly put it: "This is a wow day."