KeyfactsEnergy

Providence Resources announces further Extension on Barryroe farm-out transaction

29/07/2019

As at close of business on 26 July 2019,no funds had been received in the Company’s account. However, the Company has been provided with a copy of further documentation provided to APEC’s funders (the 'Payee') by HSBC showing that US$10 million has been debited from the Payee’s account for payment to Providence’s designated account.The documentation confirms that the payment date is still pending due to final processing by HSBC. Accordingly, to facilitate this, the Barryroe Partners have agreed to a backstop extension of on or before August 2, 2019.

Link to Providence Resources Ireland country profile