Providence Resources (LON:PVR) has confirmed it is looking differently at Barryroe with the much-vaunted gas element at the asset shifting the company's development approach.
New CEO Alan Scott Lin (who replaced Tony O'Reilly at the start of 2020) outlines his new strategy for Barryroe in a comprehensive interview with Proactive London.
The new CEO agrees that in the past Barryroe has been independently verified as containing large volumes of both gas and oil, potentially comprising two wells as either (a) a large oil field with a gas cap or (b) a large gas field surrounded by an oil rim.
Beyond Barryroe, Providence’s new management continues to advance a strategic review of the business and its assets. As such all exploration licences are being re-assessed based on cost and relevance to the new business model.