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no middle prices anymore, paying full offer now

RNS with increase extension of the license


Providence Resources updates on Barryroe Oil Field

Providence Resources said the Barryroe exploration licence (SEL 1/11) partners have been granted a c.180 sq km increase in the areal extent of the licence by the Minister of State, at the Department of Communications, Energy & Natural Resources.

The increase was for the first phase of the exploration licence and subject to further work programme commitments to be undertaken by the Barryroe partners. This increase in the area of SEL 1/11 recognizes potential field extensions of Barryroe to the south and south-east.

SEL 1/11 contains the Barryroe oil field which is operated by Providence Resources (80%) on behalf of its partner Lansdowne Oil & Gas (20%). The area lies in c. 100 metre water depth in the North Celtic Sea Basin and is c. 50 km off Co. Cork, Ireland.

Barryroe could contain up to 800MBOE with drills to come in deepzone and at Barryroe North

It's commercial alright.....

Tis a North Sea sized oil find!

bottom shopping and a midle price at the time, could be profitable if is North Sea size find

Let's not forget : Spanish Point gas condensate (to be appraised shortly),....and the one that hardly anybody knows about ! : The Burren oil discovery not far from Spanish Point as well in the Atlantic margin sector (might be appraised just after Spanish Point).....now all this plus Barryroe 340 million barrels recoverable from 800 million discovered plus a big extension on all sides it seems...plus other smaller oil discoveries in the Celtic sea ..plus a dozen other prospects....no debt...how on earth is this worth just 142 million pounds (market cap) ? .......just crazy !...

Just had to get a few more today....

Would have been rude not to!

On the bounce, some large trades early on the morning did the trick after reaching lows yesterday

Back in Ireland has gone to 2.815 euros up by 6.84% today, only 3.85% over here, though the UT was at 2.70

Another 5p up today, not much volume yet but almost all buying

Tightening of the spread is interesting...

Must be nearing Spanish Point/Burren drill ready.....spud to be announced soon ? at least two wells coming up this spring/summer !...

Will this ever go up ?...getting impatient here...

Jeez been a while since anyone posted here! Now that has survived another near death experience maybe we can look forward to a game changing drill at Druid in 6 months time....

And at a very good drilling cost for Druid.....

Yes was sourced well!

Will we hear owt on Barryroe in CEO's end of year statement?

Inching up here as Oil inches up too!