Providence Resources - Barryroe Technical Update good for Lansdowne Oil & Gas and Seaenergy
Providence Resources has announced a technical update on its Barryroe Oil Field in the North Celtic Sea Basin, offshore Ireland.
An independent third party analysis confirmed high quality oil at Barryroe.
It confirmed the oil to be a premium light (43 API), low sulphur, low acidity, low metal crude, low nitrogen crude with a wax content of circa 17% by weight. The data is an improvement on the previously published PVT fluid analysis from March 15th and enhances the marketability of the crude.
All very good news for Providence and Lansdowne Oil & Gas which has a 20% stake in the Barryroe Field and in turn Seaenergy with its 25% stake in Lansdowne.