Providence confirms talks on funding for exploration

Providence Resources has confirmed it is in discussions on “a potential funding” round to aid ongoing exploration costs.

The company’s share price continued to fall yesterday, at one point being down nearly 19% in Dublin and 13% in London, where the bulk of the Irish explorer’s shares are traded.

The Tony O’Reilly Jnr-led company is looking to boost funding capability for a number of projects, including its headline asset, the much-anticipated Barryroe oil and gas field off the Cork coast in the Celtic Sea.