Oil and gas explorers have led the way in the outperforming AIM market so far this year. And as investors spend this long Easter weekend reflecting on this outperformance, the question most will ask themselves whether or not the junior oil and gas sector continue to drive the AIM market higher?

The good news continues to flow from Providence Resources’ Barryroe well. A week after confirming Ireland’s first commercial offshore oil find, the company unveiled a second round of results, which once again exceeded expectations.

Providence Resources today confirmed that Repsol will be the operator of a new venture off Ireland’s south-west coast, which includes the large Newgrange gas prospect.

Providence Resources’ results from its pivotal Barryroe appraisal well, offshore Ireland were a landmark not only for the company but the nascent Irish oil industry, its chief said.