Providence Resources is waiting for word from Minister Eamon Ryan.  The explorer has just completed a second independent audit of its Barryroe field, the second since 2013. The audit found 81 million barrels of oil. At today’s market price of $91, that’s $7.2 billion worth.  To get at the oil, Providence wants a new preparatory well. To sink the well, Providence needs a sign off from Minister Ryan, as well as €65 million from shareholders.  In an update on Friday, Providence made the case to investors, and to the government, that the project should go ahead.  To the government, it…

Want to read the full story?

Unlock this article – and everything else on The Currency – with an annual membership and receive a free Samsonite Upscape suitcase, retailing at €235, delivered to your door.

Subscribe

Cancel at any time.

Are you already a member? .