Tag Archives: Providence Resources

At the Forty Foot in Dun Laoghaire 

A Facebook group, entitled Protect Our Seas, Ditch The Drills at The Forty Foot, writes:

On July 11th 2017, the Irish government gave consent to Providence Resources to begin drilling for oil and gas in the Porcupine Basin off the south-west coast of Ireland.

The same company are now preparing for a submission for a licence which will allow them to start drilling in the Kish Bank of Dublin Bay, barely kilometres away from The Forty Foot.

This drilling would have serious effects on greenhouse gas emissions, water quality and Irish marine life. We have to stand in solidarity with our friends in Cork and Kerry to stop this rogue company before it builds up momentum and turns its oil rigs to Dublin Bay.

Join us on [Sunday] August 6th as we take action at the Forty Foot coinciding with action in Cork to tell our government that this is not acceptable – not here, not anywhere!

A petition against oil or gas drilling off the Irish coast can be signed here

Protect Our Seas, Ditch The Drills at The Forty Foot (Facebook)

Related: Forty Foot ‘next in line’ for oil exploration, claims Senator (The Irish Times, July 19, 2017)

Rollingnews

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 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.

Where’s That Irish Oil, Investors Wonder Two Years Later (Dara Doyle, Bloomberg)

(Sasko Lazarov/Photocall Ireland)