Energy

Barryroe Offshore Energy to enter voluntary liquidation

The move comes after the business failed to secure a lease to explore an oil field off the coast of Cork earlier this month

The decision comes after Barryroe failed to secure a lease to explore an oil field off the coast of Cork. Picture: Finbarr O'Rourke

Barryroe Offshore Energy, formerly known as Providence Resources, has announced plans to wind down the company and enter creditors voluntary liquidation (CVL). Earlier this month, the company directors indicated that the business was considering winding down with shareholders told that Barryroe had less than €180,000 in working capital.

The decision comes after the oil and gas exploration company failed to secure a lease from the government to explore an oil field off the coast of ...