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Total exercises option on Providence project

By BFN News | 07:20 AM | Thursday 28 December, 2017


Oil and gas firm Providence Resources says oil major Total has exercised its option to farm-in for a 35% interest and operatorship to the FEL 2/14 project off the south west coast of Ireland. It also says Cairn's option to take a 20% stake in LO 16/27 (which includes the Avalon prospect) has now lapsed. Furthermore, a period of exclusivity has been granted to a potential farm-in partner for the Barryroe project. It didn't reveal the identity of the potential partner, but said successful negotiations would deliver a multi-well programme. Story provided by StockMarketWire.com

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