Providence Resources UK Ltd has confirmed to DETI as of yesterday (12th August 2014), that the company has decided to relinquish its Petroleum Licence, PL5/10, which covers Rathlin Island.

Providence’s decision to relinquish the Licence is based on the ‘lack of significant prospectivity identified in the licence area.’

However, the company continues to hold a Petroleum Licence granted by the Department of Energy and Climate Change for offshore in the Rathlin Sound, posing grave risks to the coastlines of Rathlin Island, our whole north coast, and the Scottish west coast.

Rathlin Energy Ltd continue to hold their onshore licence (PL3/10) for the mainland Rathlin Basin, extending from Ballycastle in the east, to Magilligan in the west, and as far inland as Garvagh.