Latest Barryroe setback could end up being good news for Providence investors Market Beat: Explorer has yet to deliver on long-standing ‘black gold’ hype about 5 hours ago
Investors in oil and gas exploration stocks need a strong constitution at the best of times. But followers of Providence Resources have had to be a breed unto themselves. Shares in the company slumped as much as 22 per cent within an hour of trading getting underway in London on Thursday as the market digested news that a partnership to develop the group’s much-hyped Barryroe oil and gas field 50km off the Cork coastline had fallen through.