Legal action delays Barryroe progress

Legal action delays Barryroe progress

Providence Resources’ much-anticipated, multi-well drilling programme at its Barryroe field off the Cork coast has been delayed.

The company has opted to give up its existing site survey permit ahead of reapplying.

The move is a direct result of environmental agency An Taisce’s legal proceedings against the Department of Climate Action and the Environment.

An Taisce is challenging the legality of the Government’s permission to grant approval to Providence subsidiary Exola to conduct a well-site survey ahead of drilling next year. 

That hearing has been postponed until December 10.

Providence had expected to undertake the site survey before the end of this year, but now anticipates work starting in the first quarter of 2019.

The news saw Providence’s share price dive by over 7%, having been down almost 14% earlier in the day.

Providence said it was frustrated with the turn of events, as it had complied with all environmental and planning regulations on its side, but took the decision to delay work in order to avoid further costs and delays.

“While this rescheduling will impact the planned start of the multi-well drilling programme at Barryroe, moving it from the second quarter of 2019 into the third quarter, we believe that it does not materially impact the timing of the overall delivery of the programme,” said Providence chief executive Tony O’Reilly.

Providence announced a multi-well drill plan for Barryroe in the summer, after reaching agreement with a Chinese consortium, headed by Beijing-based investment company APEC Energy, as its long-awaited development partner at Barryroe in March.

Elsewhere, Irish-focused explorer Predator Oil and Gas — which is fronted by former Fastnet Oil and Gas boss Paul Griffiths — has been awarded an onshore exploration licence in Morocco. 

Predator floated on the London Stock Exchange earlier this year, raising €1.5m to help develop assets it holds off the coasts of Ireland and Trinidad.

More in this Section

Tech firm Horizon8 picks Cork as Europe HQTech firm Horizon8 picks Cork as Europe HQ

Abbey eyes more Irish work as profits fallAbbey eyes more Irish work as profits fall

Providence shares see bounce on Tony O’Reilly exitProvidence shares see bounce on Tony O’Reilly exit

Legislation to test self-driving cars on Irish roads approvedLegislation to test self-driving cars on Irish roads approved


Lifestyle

This Christmas remember that there is no such thing as cheap food.Buy local: Use your LOAF

As we wait, eager and giddy, a collective shudder of agitated ardor ripples through the theatre, like a Late, Late Toyshow audience when they KNOW Ryan’s going to give them another €150 voucher. Suddenly, a voice booms from the stage. Everyone erupts, whooping and cheering. And that was just for the safety announcement.Everyman's outstanding Jack and the Beanstalk ticks all panto boxes

Every band needs a Bez. In fact, there’s a case to be made that every workplace in the country could do with the Happy Mondays’ vibes man. Somebody to jump up with a pair of maracas and shake up the energy when things begin to flag.Happy Mondays create cheery Tuesday in Cork gig

More From The Irish Examiner