Ashurst advises on the sale of a 50% stake in Barryroe Field in Ireland
International law firm Ashurst is advising Providence Resources plc ('Resources'), the Irish based oil & gas exploration company, and Lansdowne Oil and Gas plc on a farm-out agreement ('FOA') with APEC Energy Enterprises Limited ('APEC') relating to standard exploration licence ('SEL') 1/11, containing the Barryroe Field. SEL 1/11 is owned by EXOLA DAC ('EXOLA') (80%), a wholly-owned Providence subsidiary, and Lansdowne Celtic Sea Limited (20%), collectively the 'Barryroe Partners'.