Providence Resources P.l.c.: Update on Barryroe Farm-out Transaction
Monday 22 July 2019
Providence Resources P.l.c., the Irish based Energy Company, provided a commercial and operational update in relation to Standard Exploration Licence (“SEL”) 1/11 which contains the Barryroe oil accumulation. SEL 1/11 is operated by EXOLA DAC (“Operator”, 40%), a wholly-owned Providence subsidiary, on behalf of its partners, APEC Energy Enterprises Limited and Lansdowne Celtic Sea Limited (10%). The area lies in c. 100 metre water depth in the North Celtic Sea Basin and is located c. 50 km off the south coast of Ireland.