Data from a survey conducted by Dublin-listed exploration company Providence Resources has highlighted the potential of its Spanish Point target in the Atlantic margin off the west coast of Ireland.

The survey also covered the adjacent Burren oil discovery, and indicated it could have significant future exploration potential. Davy analyst Job Langbroek said this update should help Providence to attract a partner for its Frontier licence (which contains the Spanish Point and Burren discoveries).

“This is positive for the stock and will help to advance drilling plans...” he said.