Providence Resources - Result of AGM

Barryroe Offshore Energy

27/07/2022 12:49

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RNS Number : 9559T  Providence Resources PLC  27 July 2022

Providence Resources P.l.c.

Result of AGM

Dublin and London - 27(th) July 2022 Providence Resources P.l.c (PVR), the
Irish based energy company, is pleased to announce that all resolutions were
duly passed at the Company's Annual General Meeting held earlier today.

James Menton, Chairman, Providence Resources said, "I welcome today's
opportunity to address our shareholders and bring them up to date on the
Board's activities over the last 12 months. The Board's primary objective
remains the successful optimisation of the Barryroe Field, which represents an
opportunity to develop a vital indigenous source of oil and gas. At a time
when geopolitical uncertainty necessitates that all energy options must be
given due consideration, we believe that the Barryroe Field has the potential
to have a significantly positive impact on Ireland's security of energy supply
in the coming years. Indigenous oil and gas supplies will be critical in
providing a substitute for the imports that will be required to meet ongoing
demand during Ireland's energy transition to Net Zero"

 

Alan Curran, Interim Chief Executive, Providence Resources, said, "My initial
review of Barryroe confirms its material potential as an oil and gas asset
that is ready for appraisal drilling. However to progress and harness the
enormous potential in the Barryroe Field as soon as possible, regulatory
consent by way of the Lease Undertaking is required. No further material
technical progress can be made without this."

 

ENDS

 

Investor Enquiries:

o  Providence Resources P.l.c.                 Tel: 353 1 219
4074

James Menton

Chairman

 

o  Investor
Relations
Tel: 353 87 6620234

Job Langbroek

 

o  J & E
Davy
Tel: 353 1 679 6363

Anthony Farrell

 

Media Enquiries:

o  AM O'Sullivan
PR                                    Tel:
353 87 9881890 / tina@amosullivanpr.ie (mailto:tina@amosullivanpr.ie)

Tina Quinn

 

 

 

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