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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. ....
Providence to go it alone on Barryroe as third partnership collapses Company has terminated a so-called farm-out agreement with Norway’s SpotOn about 2 hours ago
Providence Resources said on Thursday it plans to proceed alone to bring its Barryroe oil and gas field south of the Cork coastline to production as a third planned development partnership has fallen through. The company, led by chief executive Alan Linn, said that it has terminated a so-called farm-out agreement with Norway’s SpotOn, which was supposed to ultimately receive a 50 per cent stake in the project subject to completing a $166 million (€138 million) fundraising to develop the field. ....
TRADING UPDATES: Solid State ends year strongly; Deltex loss widens Thu, 22nd Apr 2021 18:48 (Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: Solid State PLC - Worcestershire-based computing products manufacturer - Expects to announce results for year ended March 31 ahead of recently-upgraded consensus forecasts. Trading since February update has continued to be encouraging, with stable order flow and strong invoiced sales in March. The final month of the financial year benefitted from demand pulled forward and a strong contribution from the two businesses acquired at the end of February, company says. Adds it has seen particularly strong order intake post-year end, building confidence in the outlook for the year ahead. Chief Executive Gary Marsh says: The outcome for the full year represents an excellent achievement for the group, given that notwithstanding the di ....
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