Principle 1

Principle 1 : Establish a strategy and business model which promotes long-term value for shareholders

Providence Resources P.l.c. is an Irish based upstream oil and gas company with a portfolio of appraisal and exploration assets located offshore Ireland. Operating for over 30 years, the Company (and its predecessor companies) has a well-established background in the Irish oil and gas business, having worked closely with many major international companies including ExxonMobil, Repsol, Total, Eni, Petronas and Cairn Energy.

The Company is involved in a number of material exploration prospects and appraisal projects in multiple basins around the coast of Ireland. The Company’s strategy has been to assemble a material equity position in a portfolio of assets combining existing discoveries with new prospects to improve overall economics whilst mitigating risk in order to generate value for the Company and its shareholders.

  • Focus on oil & gas exploration offshore Ireland - Core focus on early stage exploration & appraisal drilling opportunities in multiple basins
  • Create a diversified and material exploration & appraisal portfolio
  • Farm-out to defray CAPEX for subsequent drilling/development and/or seismic acquisition
  • Leverage in third parties to validate and co-venture with on prospects and projects
  • Evaluate new opportunities