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Providence plans to raise €60-€70m through bond issue


Statoil petrol station in Dublin
Providence Resources’ partners in the development of the Barryroe oil and gas field plan to raise between €60 million and €70 million through a bond issuance in the coming months, the
Business Post understands.
Providence last week announced it had reached a farm-out deal for the Barryroe field with a consortium led by Norway’s SpotOn Energy. The Irish exploration company expects it could begin making dividend payments within three years.
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