O'Reilly owned Providence Resources drills for oil off Dalkey


Providence Resources the energy exploration company owned by the multi millionare O'Reilly family has announced that it is to start drilling for oil only 10km to sea from the city of Dublin.  If it does hit oil then like all the other energy exploration companies it will not have to pay one cent in royalities thanks to the Great Oil & Gas Giveaway deal created by Minister Ray Burke (subsequently jailed for corruption) and Bertie Ahern among others.  The O'Reilly family also own a huge percentage of the Irish media, the same media that has failed to cover this Great Oil & Gas Giveaway and that in the case of the Sunday Independant in particular has actively attacked the few journalists like Fintan O'Toole that have dared to speak out.

In a press release yesterday Tony O‟Reilly, Chief Executive of Providence, said: “We are delighted to confirm that our ongoing analysis of the Kish Bank Basin has revealed the presence of a large untested structure that warrants further investigation. The Dalkey Island exploration prospect presents the potential for a large oil accumulation in shallow water off the east coast of Ireland."

The release also pointed out that "given its location in shallow water and close proximity to shore, the prospect is of great interest as exploration drilling, together with any future development costs, are likely to be low" giving the lie to Green Ministers Eamonn Ryan's oft repeated claim that he is refusing to do anything about the Great Oil & Gas Giveaway because exploration and extraction in Irish waters would be so expensive that it could not happen on any other terms.

At the time when workers in Ireland are being forced to pay for the losses of property speculators and banks it adds insult to injury to see multi-millionares like the O'Reillys potentially been given hundreds of millions that could otherwise fund education or healthcare.  The total value of the Gas & Oil natural resources off the west coast alone is estimated at 430 billion euro, we need to organise to make sure the giveaway is brought to an end.

An analysis of the sort of coverage the O'Reilly owned Sunday Independent publishes
Dublin Shell to Sea lay out the facts of the Great Oil & Gas Giveaway

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