LONDON (Alliance News) - Providence Resources PLC Friday responded to press speculation by confirming it is in talks over a potential fund-raising, but said at this stage no terms for any such funding have been agreed.
The Irish oil and gas exploration company also said that there has been no change to the status of its farm-out process on its Barryroe asset. Earlier this month, the company had reached an agreement on commercial terms with a proposed farm-in partner on the asset subject to closing conditions.
Shares in Providence Resources are trading down 12.8% at 29.00 pence Friday afternoon.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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