O’Reilly upbeat about future

PROVIDENCE Resour-ces chief executive Tony O’Reilly Jnr has said that “the time has come” for Ireland’s hydrocarbon potential to be realised.

Speaking as part of the Dublin-headquartered oil and gas exploration company’s end-of-year trading update, Mr O’Reilly said: “Given recent industry advances in technology and pricing, as well as Ireland’s now established infrastructure and fiscal regime, it is our firm view that the time has now come for Ireland’s hydrocarbon potential to be realised.

“Our shareholders have waited patiently for this moment, and, as the leading Irish-based exploration and production company — with extensive acreage position, outstanding technical capabilities and world class international partners — we’re hopeful of being able to create significant sustainable value for them over the period ahead.”