Providence predicts re-appraisal of offshore Ireland

Providence Resources has posted a loss before tax of €9.8 million in the six months to the end of June.

28th September, 2011

Providence Resources has posted a loss before tax of €9.8 million in the six months to the end of June, according to a statement from the company. This compares to a profit of €0.6 million in the first half of 2010.

Revenue from continuing operations at Providence was €5.7 million, down 4.4 per cent on the same period in 2010.

The company announced a multi-well drilling programme to run from 2011 through 2013 that will cover both appraisal...

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