By Sarah Young
DUBLIN, May 14 (Reuters) - Explorer Petrel Resources Plc is seeking a larger partner to help it fund drilling offthe coast of Ireland and hopes to conclude a deal in comingmonths, as it capitalises on a surge of interest in thecountry's oil potential.
Ireland's oil prospects have come to the fore after positiveresults last year at the Barryroe field in the Celtic Sea, whichnow looks set to be developed, turning the country into an oilproducer.
Dublin-based Petrel, which has a stock market value of about14 million pounds ($21.5 million), said on Tuesday it was intalks about bringing in a partner to help fund drilling offIreland's coast, which due to the deep water and expensive rigscosts tens of millions of dollars.
"We've been approached by a few players that we're now indiscussions with," Petrel Managing Director David Horgan said inan interview, adding he expected to conclude the discussions incoming months.
Attractive tax rates in Ireland and the large potential sizeof yet-to-discovered oil fields off the country's Atlantic coasthave sparked the interest of the world's biggest oil companies,such as ExxonMobil, which is drilling a well there.
"There's good interest in Ireland," said Horgan, describingparties who had shown interest as large independents and oilmajors.
Another Dublin-based explorer, Fastnet Oil & Gas,is also in the process of trying to secure a partner for itsIrish licences, while Providence Resources is seeking apartner to help foot the bill of up to $1.7 billion to get theBarryroe field into production.
U.S.-based Kosmos Energy, a company worth around$4.37 billion, recently signed a deal with minnow Europa to explore off the coast of Ireland.
Shares in Petrel soared 156 percent to 32.5 pence in a daylast November, when the company said geological studies led to abelief that one of its drilling targets had a billion-barrelpotential.
The stock has since pared those gains and traded at 18.5pence by mid-morning Tuesday.