The new boss at Providence Resources, Alan Linn, said he’s confident in the potential of the Barryroe well off the Cork coast, as he seeks to secure an “attractive partner,” despite the huge setbacks faced by the oil company last year.

Providence Resources is once again looking for fresh money, saying it is “considering its funding options” as it only has sufficient working capital to cover its costs through to the end of next month.

Providence Resources is understood to have formally begun the search for a new farm-out, or development, partner for its flagship Barryroe field off the Cork coast.

A male acquaintance who is self-employed says women don’t value their own time in business.

Shares in Irish exploration company Providence Resources jumped by as much as 12% after it announced that Tony O’Reilly - its chief executive since 2005 - has left the company; stepping down as CEO and resigning from the board with immediate effect.

Shares in exploration company Providence Resources plummeted 12% on it losing another high profile development partner for one of its offshore Irish drilling prospects.

Providence Resources will, effectively, begin the search for a new development partner for its Barryroe oil and gas field as early as this week, if long-awaited funding from its existing partners fails to materialise.

Providence Resources has raised the prospect of looking for new development partners at its flagship Barryroe oil and gas field following another missed funding payment deadline by its current partner.

Providence Resources is getting closer to requiring alternative funding sources for the continued development of its flagship Barryroe oil and gas field off the Cork coast.

The commencement of the long-awaited drilling campaign at the Barryroe oil and gas field off the Cork coast is expected to be pushed into next year.

Providence Resources has said it has received "further assurances" that a $9m (€8m) development loan to fund work at its flagship Barryroe field, off the Cork coast, is "in the process of being paid".

Irish exploration company Providence Resources is set to commence a long-awaited site survey of its flagship Barryroe field later this month after finally receiving formal approval from the Government.

Approval and funding delays could push a long-awaited multi-well drilling campaign at the Barryroe oil and gas field, off the Cork coast, into 2020, a UK broker has said.

Providence Resources' technical director John O'Sullivan - the company's de-facto second in command to CEO Tony O'Reilly Jr - has left the company as part of a major downsizing of its operations and management structure.

Shares in Providence Resources have risen on the back of the oil and gas exploration company indicating that funds necessary to progress the development of its flagship Barryroe field, off the Cork coast, will be forthcoming.

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.

Shares in Irish oil and gas exploration company Providence Resources fell 16% on news of a further delay to a $9m (€8m) funding advance for its flagship Barryroe field off the Cork coast.

Providence Resources shares plummeted by more than 20% on the back of a further delay to planned drilling at the company's flagship Barryroe oil and gas field off the Cork coast.

People Before Profit is confident its bill aimed at banning future drilling for oil and gas in Irish waters can still succeed - albeit with certain amendments attached - despite it being cast into political limbo last month.

More than a third of oil and gas exploration companies active in Irish waters are finding it difficult to source partners to develop their licences here.

Providence Resources could drill off the west coast — as well as in the Celtic Sea — next year as it continues to ramp up exploration activity.

Providence Resources has hit a second major setback in the Porcupine Basin after summer drilling at the Drombeg well 220km off shore failed to hit oil and has been abandoned. The shares, which had one stage plunged by a third, ended the session 16.5% lower.

A number of Irish stocks felt the benefit as global markets rallied yesterday and investors weighed back in on the back of easing tensions between the US and North Korea.

Shares in Irish-focused exploration company Europa Oil and Gas jumped by up to 15% yesterday on the back of the London-based company raising an extra £1.3m (€1.47m) through an open offer of its shares.

One of the world’s largest oil companies, France’s Total has signed two commercial development deals with Irish exploration company Providence Resources – a move which sent the latter’s shares soaring as much as 11% yesterday.

Providence Resources boss Tony O’Reilly Jr has said landing a development partner for the company’s headline asset — the Barryroe oil and gas field off the Cork coast — remains the top priority despite a potential deal collapsing in the last few months.

Tony O’Reilly Jr’s Providence Resources has named Tullow Oil’s exploration director Angus McCoss to its board in a non-executive capacity.

Shares in British explorer Europa Oil and Gas climbed 6% yesterday on the back of the company effectively doubling the reserve estimate at one of its chief prospects off the west coast of Ireland.

Exploration-related activity in Irish waters is set to heat up further in the coming months with a new multi-client 3D seismic survey to be undertaken off the west coast.

Shares in Providence Resources jumped more than 7% yesterday on the back of the Dublin-based explorer reporting a near €4m narrowing of annual losses.

Providence Resources and Europa Oil and Gas – two of the most active exploration companies in Irish waters – are confident of further deal activity after both landing development partners for assets they hold off the west coast of the country.

Imagine a fishing trawler with nets bigger than Croke Park. Imagine that it can catch more in a day than many Irish trawlers can net in a month. Imagine the devastation that such a capacity may have, not alone for fish stocks, but for coastal communities and their livelihoods.

Right now the second largest super trawler in the world is fishing off the Irish coast. It drags a net bigger than a football field and can process over 250 tonnes of fish a day.

Irish explorer Providence Resources looks to be close to a deal with a rig contractor as it continues to ready itself for a return to drilling in Irish waters next year.

Irish exploration firm Providence Resources looks set to save around $2.5m (€2.3m) in additional legal costs, arising from its recently concluded legal battle with drilling services firm Transocean.

Exploration company Providence Resources said it has entered the second half of the year with “renewed optimism” after seeing a near halving of its first-half losses and carrying out a company-saving funding round.

Providence Resources — the Tony O’Reilly Jr-led exploration company — has named former Tullow Oil senior executive Pat Plunkett as its chairman.