Providence Resources shares surge 33% on Barryroe

Shares in Providence Resources surged 33% as the oil and gas explorer said it may be close to clinching a tie-in with an unnamed firm to help develop its Barryroe prospect in the North Celtic Sea.

Shares in Providence Resources surged 33% as the oil and gas explorer said it may be close to clinching a tie-in with an unnamed firm to help develop its Barryroe prospect in the North Celtic Sea.

The contract for “a multi-well farm-in” at Barryroe is at an advanced stage, said Providence in a year-end update, confirming that plans to hire a rig and the appointment of a project manager were under way.