Tony O’Reilly, CEO of Providence Resources in 2009
Where’s our black gold?
With Providence drilling only one appraisal well so far, potential farm-out partners may want more evidence.
“There is a discovery there, the question is what is commercially recoverable,” said David Round, an analyst at BMO Capital Markets in London. “They may still find a partner, though the terms might not be as lucrative as they originally envisaged.”
Providence’s difficulties in finding a partner may have been amplified by past exploration failures in offshore Ireland. Some 158 wells have been drilled over past 45 years in Irish waters. Only four commercial gas fields have been found.
Outside the Ireland Oil & Gas 2014 Summit being held at the Conrad Hotel, Dublin.
Sponsored by insurance giant Aon, Tony O’Relly Jnr’s Providence Resources and other disinterested parties.
So what the frack’s going on inside!?
“The Summit will provide delegates with an overview of the fiscal regime and legislations relating to exploration and production in both the Republic of Ireland and Northern Ireland. . It will ultimately provide you with the opportunity to enhance your understanding of the potential of the region at this crucial time, when a new licencing round covering most of Ireland’s Atlantic margin will soon commence.
The sublime cityscapes of San Francisco based painter Jeremy Mann.
Turning oil into light.
This is how you do that.
Above (from top): The City Tempest (2013); Times Square Lights (2012), The Market Street Steam Vent (2012); Untitled; The Last Light Of San Francisco (2013), Rooftops In The Snow; Manhattan Nights (2013) and our personal favourite Hell’s Kitchen (2013).
[From top: Eddie Hobbs with contributing authors; Hobbs; Hobbs with Chris Sanders and Eilis Quinlan whose father,former Labour Minister and European Parliament member Justin Keating (on screen) who in 1975 introduced the first substantial legislation for the development of Ireland's oil and gas; Book cover]
The launch of ‘Own Our Oil: The Fight for Irish Economic Freedom’ by Eddie Hobbs in the President”s Room at the RDS, Ballsbridge, Dublin this afternoon.
In ‘Own Our Oil:The Fight for Irish Economic Freedom’ Eddie Hobbs and contributing authors shine a light on the exploitation that surrounds Ireland’s oil and gas reserves. The authors illustrate their ideal economic model for a healthy and prosperous Ireland, in contrast to the current management of oil and gas reserves in Ireland….
Protesters including the admirably-ripped Paul Wright (top and above) at the Forty Foot in Sandycove, Co Dublin, earlier opposing the oil exploration license granted to Providence Resources two miles out to sea.