Providence Resources raises €270,000 to help fund Barryroe development

Providence recently said it could realise a further €23.5m in funding if all remaining warrants from April’s share sale are exercised. Picture: Finbarr O'Rourke 

Irish exploration company Providence Resources has raised a further £245,450 (€271,000) to help fund the development of its flagship Barryroe oil and gas field off the Cork coast.

The new money comes via investors exercising warrants that were issued as part of Providence’s €3m emergency fundraising in April. It follows a similar warrant exercising move, last month, which raised an additional €540,000.