Providence Resources to farm out 32 per cent stake in Spanish Point

Providence Resources said it has commenced a farm-out process to sell up to 32 per cent of its interest in the Spanish Point exploration licence.

This would leave it with a 26 per cent stake in the area, which includes Frontier Exploration Licence 2/04 and 4/08, and is located in around 400 metres of water, 160 kilometres off the west coast.

Providence hold a 58 per cent equity interest in Spanish Point, which ...