Major Inishkea gas find, but who will benefit?

Seven years ago in this column I wrote about a 2006 Government Indecon report that claimed there is a minimum of 10 billion barrels of oil (and gas) off our shores. Work it out. At $70 a barrel, it would more than pay for the bank bailout debt that was unfairly pressed upon Irish citizens. And we would still have a lot of change.
There has been a major gas find off the Mayo coast, bigger than Corrib. The UK-based Europa Oil & Gas (Holdings) PLC ‘has elected to fast track an ongoing technical work programme following positive results’ from their flagship project in Ireland, the Inishkea prospects in the Slyne basin near the Corrib gas field.
All going well the drilling will start in 2020.
A Europa newsletter, dated March 14, 2018, available on www.europaoil.com, states:
“We believe 2.5 tcf [trillion cubic feet] of undiscovered Gas Initially In Place (GIIP) is likely to translate into commercially significant prospective resources. We understand that the recovery factor at the Corrib field is ~ 80 percent.
“Water depths are comparatively shallow (400-600m) and do not require harsh environment sixth generation drillships therefore drill costs are lower. We have recently conducted a drill cost estimate for a well on the Inishkea prospect and dry hole cost including mob and demob is US$28 million using a prevailing rig rate of US$120,000 per day.
“Gas infrastructure is already present nearby at Corrib therefore a fast track path to commercialisation is potentially available, subject to negotiation and cooperation with the infrastructure owners. Gas is likely to be a significant component of Ireland’s future energy needs both for electricity generation and domestic and industrial heating.”