New oil find - Impressive discovery

We may grumble about escalating fuel prices at the petrol pumps but those very prices may be the key to a new era in Irish oil exploration.

A test well in the Barryroe block, 50km off the Cork coast and managed by Providence Resources, has produced more than 1,800 barrels of oil a day.

This is not the first time oil has been found on the Barryroe block, but today’s oil prices make its exploitation — if it is a viable find — far more likely.

Should impressive initial findings be sustained then we might be on the threshold of the kind of development, the kind of rising tide that would do a lot to help rebuild our economy. It is far too early to celebrate but the signs are that, in time, we might.


Frits Potgieter is General Manager with Muckross Park Hotel and Spa.You've Been Served: Frits Potgieter, Muckross Park Hotel and Spa

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