Providence shares surge after farm-in deal with Total
The exploration group has reached a $27 million option agreement with Total on the Porcupine licence
Shares in Providence Resources surged by more than eight per cent in early trading after the exploration group announced it had entered option agreements with French oil major Total to farm out part of its interests in its Porcupine wells.
Total will pay $27 million (€24 million) to acquire an option over a 35 per cent share in Frontier Exploration Licence 2/14, which lies in around 2,250 metres of water in the southern ...
