Providence shares rise as Barryroe expert joins board
Market sees appointment of Andrew Mackay as vote of confidence in Irish prospect
Market sees appointment of Andrew Mackay as vote of confidence in Irish prospect
Oil and gas explorer posted a pretax loss of €48m last year
CEO Alan Linn says oil field ‘economically compelling’ with oil prices at $50 a barrel
Former CEO Tony O’Reilly jnr received exit payment of almost €450,000
Alan Scott Linn takes over at oil and gas explorer after long-term head Tony O’Reilly quit
Cantillon: Alan Linn gets share incentive to succeed where others failed with oil field
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Providence chief executive has to sell investors on himself after a series of setbacks
Oil and gas explorer has conditionally raised funds through a share placing
Shares in Providence have slumped by 45 per cent over past 3 months
Apec funding has yet to reach the exploration firm’s account
Oil explorer again forced to extend deadline for receipt of funds from Chinese investor
Shares in the oil and gas explorer jump almost 30% during trading in London
Oil explorer expected to proceed with site survey even if finance doesn’t come
Shares tumble 34 per cent in London as explorer reports cash level of $1.45 million
Irish exploration company sets August 2nd deadline for receipt of funding
Exploration firm is awaiting the receipt of $10m in funding Chinese company Apec
Exploration company says transfer is expected to be completed shortly
Efforts to find a major partner with deep pockets to back the project have been tortuous
No bonuses for executives but O’Reilly package rises 18% to €470,000
Move could hit group’s plans to exploit oil discovery off the south coast
Apec purchased 50% of southwest coast field thought to hold over 300 million oil barrels
Analysts at Cenkos estimate that Barryroe drilling programme could cost $100m
Chinese group Apec will take 80% of Barryroe’s proceeds until debt is repaid
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