Providence shares slide on latest Barryroe funding snag

Providence Resources and its international funding and development partners are aiming to begin commercial drilling work at Barryroe by the end of next year.

Shares in Irish exploration company Providence Resources plummeted 14% on fresh complications surrounding the funding of the development of its Barryroe gas field off the Cork coast.

Providence completed a deal, last November, to bring in a consortium headed by Norwegian company SpotOn Energy to finance and develop Barryroe.