Companies
Directors of Barryroe Offshore Energy consider winding up firm as it faces insolvency
The company previously known as Providence Resources failed to secure a lease undertaking from Minister Eamon Ryan earlier this month to explore an oil field off the Cork coast potentially worth up to $8bn
Barryroe Offshore Energy, the company previously known as Providence Resources, is considering an orderly wind down of the business after it revealed to shareholders on Thursday that it has less than €180,000 in working capital remaining.
The company, which has been trying for years to develop the Barryroe oil and gas field with little success, said it is currently in discussions with its largest shareholders, including beef magnate Larry Goodman, to secure additional working capital ...
