Happy St. Patrick's Day! Ireland Strikes Oil

After more than three and one half years of brutal recession that stopped the Celtic Tiger in its tracks, the Irish finally have something to celebrate. On 15 March Irish-based Providence Resources PLC announced that it had drilled a commercially viable oil well at its Barryroe licensing block, roughly 30 miles off the coast of Cork. The test well findings suggested the field could yield more than 3,500 barrels of oil a day, nearly double the 1,800 barrels needed to make the venture commercially viable. The test area off the Cork coast covered…

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