PROVIDENCE RES. Providence Resources P.L.C.: Irish Un Climate Action Speech

 
TIDMPVR 
 
 
   Dublin and London -- September 24, 2019 - Providence Resources P.l.c. 
(PVR LN, PRP ID), the Irish based Energy Company ("Providence" or the 
"Company"), notes yesterday evening's announcement at the UN Climate 
Action Summit by An Taoiseach, Leo Varadkar, which stated the Irish 
Government's intention to phase out oil exploration licences in the 
future. 
 
   The Company believes that the phasing out only relates to the issuance 
of future oil licences and the Company presumes that all of the options, 
licences and leases already in place will be allowed to progress for 
their full duration. 
 
   Providence has a large exploration and appraisal portfolio offshore 
Ireland and the Company will be seeking clarification of the situation 
through the offices of the Irish Offshore Operators' Association 
("IOOA").  IOOA is the representative organisation for the Irish 
offshore oil and gas industry.  Its members are companies licensed by 
Government to explore for and produce oil and gas in Irish waters. 
 
   The IOOA spokesperson/CEO made the following statement on the IOOA 
website: 
 
   "IOOA look forward to seeing the full detail of the proposals to be 
outlined in the Taoiseach's speech at the Climate Action Summit this 
evening. In particular we look forward to receiving the exact detail of 
the proposed implementation of today's announcement regarding future 
exploration in Ireland. Our members remain committed to Ireland's 
efforts to transition to renewable energy, however energy security for 
Ireland is an important part of that process and we will seek a meeting 
with Government in relation to the matter in the coming weeks." 
https://www.globenewswire.com/Tracker?data=zP1ypOT_Q7ydOA8Y7Wk03CcQtErqBBm3yoamK4ejXJkTmfsy3GI3cS7FDNOU2j7OldY6b5NNxtNg6v8-xLfMNzOoydSlP-ippa4Gpufx2t_E7aIR5omADznHmXIexSrXUGKB3DQ2htg4k8CYvb3giHC2qW-LV9sthMAOLgWZd-ADRMg0CQkoBzAiNeOaYkHjZ4CqchZJDzkVgpFGe2P-1PFIbJ5eJvGXPSKSlWIzb-k= 
https://www.iooa.ie/iooa-response-to-remarks-by-an-taoiseach-nyc-23rd-sept/ 
 
 
   Providence is working closely with its colleagues at IOOA on this 
important matter and the Company will provide further updates in due 
course. 
 
 
 
 
INVESTOR ENQUIRIES 
-------------------------------------- 
Providence Resources P.l.c.                   Tel: [phone] 
Tony O'Reilly, Chief Executive Officer 
 
Cenkos Securities plc                         Tel: [phone] 
Neil McDonald/Derrick Lee 
 
J&E Davy                                      Tel: [phone] 
Anthony Farrell 
 
Mirabaud Securities Limited                   Tel: + 44 20 3167 7221 
Peter Krens 
 
MEDIA ENQUIRIES 
-------------------------------------- 
Powerscourt                                   Tel: [phone] 
Peter Ogden 
 
Murray Consultants                            Tel: [phone] 
Pauline McAlester 
 
 
   ANNOUNCEMENT & FORWARD-LOOKING STATEMENTS 
 
   This announcement contains certain forward-looking statements. Actual 
results may differ materially from those projected or implied in such 
forward-looking statements. Such forward-looking information involves 
risks and uncertainties that could significantly affect expected 
results. No representation is made that any of those statements or 
forecasts will come to pass or that any forecast results will be 
achieved. You are cautioned not to place any reliance on such statements 
or forecasts. Those forward-looking and other statements speak only as 
at the date of this announcement. Providence Resources P.l.c undertakes 
no obligation to update any forward-looking statements. 
 
   ABOUT PROVIDENCE RESOURCES PLC 
 
   Providence Resources is an Irish based Oil & Gas Energy Company with a 
portfolio of appraisal and exploration assets located offshore Ireland. 
Providence's shares are quoted on the AIM in London and the Euronext 
Growth Market in Dublin. Further information on Providence can be found 
on 
https://www.globenewswire.com/Tracker?data=HjERloY4NWSj1_mW2EHJCgdK3xF_xT0KzGnY9SkBsjGHlHp1jdBZ4WC45vpSXoKLpktexN2pUdN-q7tpCDWX9IUy0tftxM7ZjiCXa4LCYZTjgWl_tLINuxde0BagIKyq 
www.providenceresources.com 
 
 
 
 

(END) Dow Jones Newswires

September 24, 2019 04:48 ET (08:48 GMT)

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