Providence Resources announces re-instatement of equity in SEL 1/11 (Barryroe Licence)

Providence Resources, the Irish based resource development company, has announced that it  has received official confirmation from the Department of the Environment, Climate and Communications (DECC) by way of an Addendum No 6 to the Standard Exploration Licence 1/11 that, the interest in the licence granted to APEC under Addendum No 5 to the Standard Exploration Licence 1/11 during the farmout process with APEC has reverted to EXOLA DAC, a fully owned subsidiary of Providence Resources and Lansdowne Celtic Sea, a fully owned subsidiary of  Lansdowne Oil and Gas.

Standard Exploration Licence 1/11 contains the Barryroe oil and gas field.

As a result of the enactment of Addendum No 6 to Standard Exploration Licence 1/11 the assigned interests in the licence are now as follows: EXOLA DAC 80%; Lansdowne Celtic Sea 20%.

Source: Energy-pedia