Thursday December 5, 2019

Providence seeks to raise €100 million

Shares in explorer suspended from trading since April

Ian Guider

Markets Editor

22nd May, 2016
Providence chief executive Tony OReilly Pic: Ferghal Ward

Struggling oil and gas explorer Providence Resources is in talks to raise more than €100 million from investors as it looks to pay down debt, The Sunday Business Post has learned.

Shares in Providence have been suspended from trading since April after the company lost a court case in London that meant it faces having to pay over $7 million to Transocean, which supplied it with a drilling rig a number of years ago.

The company...

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