The combination of board and management talent, together with Providence's major shareholder worldwide network, presents a unique ability to succeed on the international stage. Providence has appropriate experience in the financing of large developments and is well equipped to plan and access finance for a wide range of activities and projects. Providence has established banking relations with a number of leading international financial institutions.
Since its formation, Providence has built a diversified portfolio of oil and gas exploration licences and concessions with the key focus being the pursuit of exploration and appraisal interests offshore Ireland. The Company’s board and management have a well-established background in the oil and gas business having worked closely with many major companies throughout the world. Providence works with leading companies including ExxonMobil, Repsol, ENI, Petronas, Chrysaor and Nautical Petroleum.
14/05/12
Providence Resources signalled this morning it isn’t prepared to dwell on its recent success – and nor can it afford to with no fewer than seven appraisal, exploration opportunities slated for the next 18 months.
14/05/12
Providence Resources signalled this morning it isn’t prepared to dwell on its recent success – and nor can it afford to with no fewer than seven appraisal, exploration and production opportunities slated for the next 18 months.
10/05/12
The Irish oil explorer today told investors that the basal reservoir sands that flowed in the recent Barryroe well are ‘widely developed’ in the surrounding area.
30/04/12
The successful outcome of the Barryroe project was a giant leap forward for Providence Resources, says Cenkos analyst Will Dymott. The analyst reckons Providence shares could now be worth several multiples of the current share price of 560p.
19/04/12
Providence Resources’ new acreage in the Slyne Basin off the coast of Ireland has demonstrated “exciting gas potential”, the company said this morning.
10/04/12
Liberum Capital has raised its target price for Providence Resources by a massive 400 pence from the previous level to 1,250 pence.
08/04/12
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?
23/03/12
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.
22/03/12
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.
16/03/12
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.
15/03/12
Providence Resources weighed in with significantly better than expected drilling results from its appraisal well on the Barryroe Field in Ireland’s Celtic Sea.
27/02/12
Shares in Providence Resources spiked more than 12 per cent in morning trade after the explorer unveiled “highly encouraging” results from the Barryroe well off the coast of southern Ireland.
27/02/12
Providence Resources this morning unveiled some “highly encouraging” early results from the Barryroe appraisal well off the coast of southern Ireland.
09/02/12
The well has now successfully assessed both the upper gas field and a secondary reservoir target. Results so far are consistent with the company's expectations. Drilling is now going ahead through to the primary reservoir target and the result is likely to be ready within around three weeks' time.
09/02/12
Providence Resources this morning provided a highly encouraging update on its Barryroe appraisal well in Ireland’s Celtic Sea.
26/01/12
Cenkos has set a target price of 857p for Providence shares, with an estimate of the Barryroe prospect alone at $370.6 million or 476p per share.
30/12/11
We talk to explorer Providence Resources, whose portfolio includes licence interests in offshore Ireland, onshore and offshore UK, offshore USA and offshore Nigeria.
14/12/11
Providence Resources this morning gave an encouraging update on its first well on the Barryroe Field in Ireland’s Celtic Sea.
21/11/11
Providence Resources said it has begun drilling on the Barryroe licence in Ireland’s Celtic Sea – its first hole in a two-year exploration programme.
07/11/11
Providence Resources took delivery of the GSF Arctic III semi-submersible rig on Saturday. It will be used to carry out the appraisal programme on the Barryroe field, in the Celtic Sea off the coast of southern Ireland, with drilling expected to get under way in the next two weeks.
07/10/11
Providence Resources said today there could be up to 300 billion cubic feet of gas in place at the Dragon discovery in St George’s Channel Basin, off the coast of Ireland. The new estimate is derived from an inversion study carried out by IKON Geoscience, which remodeled historical well and seismic data.
28/09/11
Providence Resources chief executive Tony O’Reilly remains upbeat about the prospects for the Barryroe discovery in the Celtic Sea, with work set to get underway imminently. Not only will it unlock value for shareholders, Barryroe “should also trigger a complete industry re-appraisal of the Irish offshore” oil exploration, he said.
22/09/11
Providence Resources confirmed today it will go ahead with drilling on its Dalkey Island prospect off the coast of Dublin.
08/09/11
Providence is about to embark on the most ambitious multi-basin, multi-year drilling programme ever to test the true hydrocarbon potential around Ireland, Liberum said in a note to clients.
04/07/11
Providence Resources said this morning that it had completed a 3D survey on the Barryroe Field in Ireland’s Celtic Sea as it confirmed it will begin drilling in September. Lansdowne Oil & Gas will now take delivery of the Polarcus Samur vessel, which will shoot a seismic survey on the Amergin, Rosscarbery and Midleton prospects, also in the Celtic Sea.
10/05/11
Providence Resources is about to begin the most extensive campaign in Irish exploration and appraisal drilling history, according to broker Ambrian, which features the firm among its "favoured picks" of the UK-listed junior oil and gas firms
01/04/11
Oil and gas explorer Providence Resources has taken a decisive step in rationalising the business with the sale of its assets in the Gulf of Mexico for up to US$22 million. It allows the company to focus on an ambitious drilling programme, and leaves it with just one producing field, Singleton in West Sussex.
01/04/11
Oil and gas explorer Providence Resources revealed this morning it is selling its assets in the Gulf of Mexico for up to US$22 million. The cash will be used to reduce the company’s borrowings.
11/03/11
Providence Resources was given a major boost this morning by Cenkos Securities, the company’s own broker, which reckons the shares are worth £16.54 each. The bullish price target is underpinned by an aggressive drilling programme, which has the potential to transform the junior explorer.
08/03/11
Up to ten wells in six separate basins around the coastline of Ireland - and all of this in the space of less than two years. The numbers are really starting to stack up for Providence Resources, including the US$120 million it has to fund its exploration and development plans. Read more as we speak to the company's chief executive, Tony O'Reilly.
08/05/06
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