Providence Resources believes improved resource figures should further enhance global awareness of its Barryroe oil and gas field, in which it hopes to sell a significant equity stake later this year.

Irish exploration company, Lansdowne Oil & Gas has said latest seismic studies on its assets in the Celtic Sea have yielded positive signs; “substantially” de-risking the projects ahead of anticipated drilling later this year and developmental partners coming on board.

THE movers and shakers of our fledgling oil industry are small by any standards.

The Barryroe oil field off Co Cork could produce up to 100,000 barrels of oil per day, or a total of 280m barrels of recoverable oil over a 25-year lifespan.

Providence Resources has been offered a two-year licensing option on an area of the Celtic Sea, which could ultimately increase the total size of its Barryroe find.

Providence Resources could sell 40% of its shareholding in the Barryroe oil and gas field, off the Cork coast, later this year.

Investors in London and Dublin stock markets have reacted very positively to drilling results issued yesterday by exploration company Providence Resources.

EXPLORATION firm, Providence Resources has increased its equity stake in the Barryroe well, off the Cork coast in the Celtic Sea, to 80%.

PROVIDENCE Resources has completed a 3D seismic study of its Barryroe oil discovery off the Cork coast — a key element of its pre-development drilling programme in the Celtic Sea.

PROVIDENCE Resources is likely to sell further equity stakes in its Irish-based assets, as it progresses with its two-year €350 million drilling programme off the country’s coastline.

PROVIDENCE Resources has agreed a deal with the Shell International Trading & Shipping Company relating to the sale of future oil produced from two of its assets in the Celtic Sea.

OFFSHORE Ireland will see higher drilling activity and should be considered in the context of overall European gas supply and demand.

LANSDOWNE Oil & Gas, the anglo-Irish exploration company, has partially farmed -out one of its drilling licenses in the Celtic Sea to Dublin company Island Oil & Gas.

LANSDOWNE OIL & GAS has been awarded an exploration license covering an area of 449sq km in the North Celtic Sea basin, off the south coast of Ireland.

ANGLO-IRISH exploration company, Lansdowne Oil & Gas has tentatively agreed terms to buy rival company, Milesian Oil & Gas for an initial consideration of £4.28 million (€5.98m).

ISLAND OIL & GAS, the technology-led independent exploration and production company, has been granted licensing extensions to its options at the Seven Heads and Rosscarbery - both located in the Celtic Sea.