PROVIDENCE RES. Providence Resources P.L.C.: Exclusivity Extension With Spoton Energy In Sel 1/11 (Barryroe Licence)

 
TIDMPVR 
 
 
   Dublin and London -- 30 October 2020 - Providence Resources P.l.c. (PVR 
LN, PRP ID), the Irish based resource development company ("Providence" 
or the "Company"), is finalising the commercial terms of a farm-out of 
the Barryroe licence with SpotOn Energy.  In order to facilitate full 
completion of the farmout documentation we have agreed to extend the 
exclusivity period to November 30(th) , 2020. 
 
   CEO Alan Linn commented; 
 
   "Despite the ongoing Covid constraints, we have made excellent progress 
in agreeing farmout terms, for an interest in Barryroe, to SpotOn Energy, 
and are working very closely with them to finalise the agreement 
documentation. The farmout is structured to ensure that the development 
is fully funded and includes an Early Development Scheme (EDS) work 
programme for the Barryroe oil and gas field located in Standard 
Exploration Licence 1/11. It is important that the partnership 
agreements and work programme are comprehensively documented and this 
process requires some additional time to complete". 
 
   INVESTOR ENQUIRIES 
 
 
 
 
Providence Resources P.l.c.        Tel: [phone] 
Alan S Linn, 
Chief Executive Officer 
 
J&E Davy                           Tel: [phone] 
Anthony Farrell 
 
Murray Consultants                 Tel: [phone] 
Joe Heron 
 
 
 
 
 
 

(END) Dow Jones Newswires

October 30, 2020 03:00 ET (07:00 GMT)

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