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(Alliance News) - Lansdowne Oil & Gas PLC said Monday partners at the Barryroe field have once again given more time for funding from a Chinese partner to come.
Last week, Lansdowne said APEC Energy Enterprises Ltd had instructed HSBC to send USD10 million to Providence Resources PLC's bank account.
This came after APEC missed a deadline for the payment, with the partners at Ireland's offshore Barryroe field giving one last deadline extension.
Lansdowne said Monday the partners have now seen "further documentation showing the mechanics" of the transfer of funds. However, the money has not arrived yet due to banking delays.
Providence owns 40% of the licence, with Lansdowne holding 10% and APEC the rest. Lansdowne was up 1.1% on Monday at 1.90 pence each, with Providence down 3.3% at 10.28p.
