Barryroe: No funding partner deal in place yet as talks deadline looms

Investors believe a funding deal for the Barryroe oil and gas field is close, but Providence Resources said partnership talks were ongoing.

A deal to bring in a partner company to bankroll the development of the Barryroe oil and gas field, off the Cork coast, has not yet been completed, despite the period of exclusivity granted to the lead bidder set to expire on Monday.

With shares in Barryroe’s current majority owner – Irish company Providence Resources – continuing a good run and jumping nearly 19%, markets clearly expect a deal to be completed in the coming days.