Offshore staff
DUBLIN, Ireland — Barryroe Offshore Energy (BOE) has discontinued its plan to raise capital for an appraisal program on the Barryroe oil and gas field in the Celtic Sea offshore southern Ireland.
This follows last month’s decision by Eamon Ryan, Minister for the Environment, Climate and Communications, not to grant the company a lease undertaking over the surrounding SEL 1/11 license.
BOE said it was now in talks with its shareholders on potentially funding the company going forward, but it warned that there is no guarantee that these discussions will be successful.
Under AIM and Euronext Growth market rules, the company must publish by June 30 its annual accounts for the year ended Dec/ 31, 2022.
However, the minister’s decision and the attendant delay to the proposed working capital raise has created ongoing concern issues for the company that will delay publication of the accounts.
06.08.2023
