Providence Resources - Response from Providence Believe where they mention SP they mean Barryroe !! - Thank you for your email....

Thank you for your email.

As we state in the RNS, we have agreed commercial terms, but due to the proposed farminee having to close its financing, it is still conditional. Under an agreed confidentiality provision, neither party can issue a RNS advising on names involved or deal terms, until such time as the deal has closed. Once this happens, both companies are then in a position to update on the deal terms and the forward programme.

We issued the RNS on Monday regarding Spanish Point and having discussed with our advisors, and in direct response to significant media and shareholder enquiries, we used this RNS to provide a short no names/no terms update on the Barryroe farm out process. We discussed this with the proposed farminee who was comfortable as no names or terms were disclosed. As for the counter party raising funds, we understand that they have been working on their financing well in advance of agreeing terms with us. We also understand that their corporate financing plans extend beyond their proposed investment in Barryroe.

As regards your enquiry regarding the major shareholder, I can confirm that we received notification of his reduced holding this week and as required, we issued a notification to the exchange. You are correct that ACC notified us last week of their increased holding and again, we immediately issued a notification to the market. To be clear, we have no information if any deals are related and we cannot speculate on changes in shareholdings and neither can we control the manner or timing of when we are notified on these matters. We simply issue notifications when received.