Positive drilling result for Providence
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.
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
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
FCA reveals 'once in a generation' advice changes - what the reforms mean for you
Consumers to get free access to financial advice type help for pensions and investment following proposed changes from the regulator
-
Zoopla: House prices slows to 1.4% in May as rate of sales at four year high
The average UK property now costs £268,400, Zoopla says, but some areas of the country are experiencing much higher price growth than others.