Providence Resources, the Irish oil explorer, has found signs of the black stuff during appraisal drilling in the North Celtic Sea Basin offshore southern Ireland.
The original drilling timeline was initially set back by bad weather and by technical problems with the rig but operations started again on February 2nd.
Providence has an 80% stake in the venture, with Lansdowne Oil and Gas owning a further 20%.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
News of the hydrocarbon show has seen Providence gain 2.61% in early trading. Over the last 12 months the stock has risen 9%.
BS
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
