Providence Resources to seek compensation from State if oil drill ban passes into law

Irish exploration company Providence Resources has said it will seek financial compensation from the Government should the Dáil pass into law proposed legislation targeting a ban on oil and gas drilling in Irish waters.

"Should this bill be enacted, we would rightly seek financial redress from the Irish State in respect of our very significant historical investment to date on behalf of our shareholders," Providence chief executive Tony O'Reilly Jnr said.