"The Government have clearly sent the message to Shell, ‘you can do whatever you want’. Fortunately due to protest, the refinery remains unconnected to the gas field. If, as Shell planned, gas had been flowing by now, we would potentially all be dealing with a gas leak and explosion.”
By:
Fearghal O'Connor - Business Post New tests suggest that the Barryroe oil discovery off the Cork coast could deliver oil at “significantly higher production rates” than was previously modelled, according to Providence Resources.
The company’s share price jumped 3 per cent as new tests predicted that the discovery is likely to produce “significant production rates.”
A comprehensive programme of post-drill studies is continuing in order to better define the Barryroe oil in place resource and potential recoverable reserves. The first of these studies was undertaken In early May, according to the Irish oil and gas exploration and production company, which is the operator and 80 per cent owner of the prospect.
“These figures now confirm the magnitude of that productivity potential and clearly demonstrate that the Barryroe basal sands could potentially deliver oil at significantly higher production rates than was previously modelled,” said Providence in a statement.
Posted Date:
25 May 2012
Link:
http://www.businesspost.ie/#!story/Home/News/Providence+shares+jump+on+new+Barryroe+data/id/19410615-5218-4fbd-eb41-1e98f1685259